The Following Information Pertains to Jasmin Corporation

question 42

Multiple Choice

The following information pertains to Jasmin Corporation. Assume that all balance sheet amounts represent both average and ending figures. Jasmin Corporation had 6,000 shares of common stock issued and outstanding. The market price of Jasmin common stock on December 31, 2009, was $23.00. Jasmin paid dividends of $0.90 per share during 2009.
What is the price/earnings (P/E) ratio for this corporation? Round your answer to two decimal places.

• A) 8.20 times
• B) 10.70 times
• C) 7.20 times
• D) 9.20 times

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Definitions:

Analogous Trait

A trait shared by different species due to convergent evolution, not because of a shared ancestry, producing similar structures independently.

Monophyletic Group

A group of organisms that consists of all the descendants of a common ancestor, representing a single branch on the tree of life.

Ancestor

An organism from which others have descended.

Convergent Evolution

The process by which unrelated or distantly related organisms evolve similar body forms, coloration, organs, or adaptations, often due to similar environmental pressures.