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Question #84 of 120 Question ID: 1146176Pam Robers, CFA, is performing a valuation analysis on the common stock of Allstare Inc. The stock's beta is 1.1, the
risk-free rate is 5%, and the market risk premium is expected to be 8%. Allstare's ROE is expected to be constant at 18%,
and its dividend payout ratio has been fairly constant over time at 40%. The forward-earnings multiplier that Robers
should use to estimate the current value of the shares is closest to:
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