Miller's Farm has 110,000 shares of stock outstanding, sales of $960,000, and net income of $51,000. Financial analysts believe the price-earnings ratio for this firm should be 15.8. Given this information, what should be the current stock price?
A) $7.33
B) $8.87
C) $14.85
D) $14.57
E) $15.21
Correct Answer:
Verified
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