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Archer Inc. has 500,000 shares of $10 par value common stock outstanding. For the current year, Archer paid a cash dividend of $4.00 per share and had earnings per share of $3.20. The market price of Archer's stock is $36 per share. The average price/earnings ratio for Archer's industry is 14.00. When compared to the industry average, Archer's stock appears to be
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Christine Purelis
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