88. An analyst gathers the following data about a company in order to estimate its
price/earnings (P/E) ratio.
Expected dividend payout ratio 40%
Return on equity 15%
Required rate of return 12%
Stock’s current market price $75
The P/E ratio is closest to:
A. 6.7 x.
B. 13.3 x.
C. 20.0 x.
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