The Able Company had profit of $47,500 and earnings per share of $3.17 during 20X2. On December 31, 20X2, the shares had a market price of $18.50 per share. What is Able's price/earnings ratio?
A) 0.17
B) 5.84
C) 8.11
D) 25.70

Name: The Able Company had profit of $47,500 and earnings per share of $3.17 during 20X2. On December 31, 20X2, the shares had a market price of $18.50 per share. What is Able's price/earnings ratio? A) 0.17 B) 5.84 C) 8.11 D) 25.70
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Calculation: $18.50 ÷ $3.17 = 5.84.

The Able Company Had Profit of $47,500 and Earnings Per