Barbur,Inc.reported net income of $12 million.During the year the average number of common shares outstanding was 3 million.The price of a share of common stock at the end of the year was $5.There were 400,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is noncumulative. The Price/Earnings ratio is approximately:
A) 1.00.
B) 1.25.
C) 1.42.
D) 6.25.
Correct Answer:
Verified
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