Orchards net income for the year ended december 31 was, Ask an Expert

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Orchard"s common stock, which is listed on a major stock exchange, was quoted at $4 per share on December 31. Orchard"s net income for the year ended December 31 was $50,000. The yearly preferred dividend was declared. No capital stock transactions occurred. What was the price earnings ratio on Orchard"s common stock at December 31?

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