Union Enterprise Has an Expected Profit Margin of 12%, Turnover

Union Enterprise has an expected profit margin of 12%, turnover ratio of 1.5, and a leverage ratio of 0.8.Union plans to distribute 45% of its expected earnings of $1 million as a dividend next year.What is the firm's P/E ratio if the risk-free rate is 4.75% and the risk premium associated with the shares is 6.75%?

A) 8.96
B) 10.48
C) 12.57
D) 15.23