Use the Information for the Question(s)below

question 86

Multiple Choice

Use the information for the question(s) below.
In November 2019,Perrigo Co.(PRGO) had a share price of $39.20.They had 91.33 million shares outstanding,a market-to-book ratio of 3.76.In addition,PRGO had $845.01 million in outstanding debt,$163.82 million in net income,and cash of $257.09 million.
-Perrigo's price-earnings ratio (P/E) is closest to:

• A)15.96.
• B)21.85.
• C)29.77.
• D)35.64.

---

Definitions:

Accelerated Debt

A repayment strategy that involves paying off debt more quickly than the standard repayment schedule.

Anti-Takeover Strategy

Tactics employed by a company to prevent or discourage unwanted takeover attempts by another entity.

Technical Insolvency

A situation where an entity cannot meet its short-term financial liabilities, despite potentially having enough assets to cover its debts.

Legal Insolvency

A financial condition in which an entity is unable to meet its debt obligations as they come due, potentially leading to legal processes for debt resolution.