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The Cincinnati Chili Kitchen has just announced the repurchase of $205,000 of its stock. The company...

The Cincinnati Chili Kitchen has just announced the repurchase of $205,000 of its stock. The company has 55,000 shares outstanding and earnings per share of $3.61. The company stock is currently selling for $78.17 per share. What is the price–earnings ratio after the repurchase?(Show work)

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