Barbur, Inc. reported net income of $28 million. During the year the average number of common shares outstanding was 4 million. The price of a share of common stock at the end of the year was $5. There were 800,000 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. 0.71.
B. 3.55.
C. 7.00.
D. 7.84.
Answer: A
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