000 SHARES OF $100 PAR VALUE, 6% PREFERRED STOCK AND 120,000 SHARES...

10,000 shares of $100 par value, 6% preferred stock and 120,000 shares of $10 par value

common stock outstanding and 5,000 shares of common stock in treasury. There are no

dividend payments in arrears, and the market price per common share at the end of the

year was $40. Appleseed’s price-earnings ratio is

a.

9.47.

b.

9.09.

c.

8.50.

d.

8.16.