Rochester,Inc.has 7,500 shares of stock outstanding at a market price of $42 each and earnings per share of $1.90.The firm has decided to repurchase $63,000 worth of stock.What will the PE ratio be after the repurchase,all else held constant?
A) $1.30
B) $1.44
C) $1.90
D) $2.02
E) $2.38
Correct Answer:
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