Napoli Industries had net income for Year 2 of $300,000. Napoli had an average number of shares outstanding at the end of the year of 500,000 shares. On January 1, Year 2, the market price of Napoli's stock was $12 per share. On December 31, Year 2, the market price was $15 per share. What is the price-earnings ratio for Napoli at the end of Year 2?
A. 20.00
B. 7.20
C. 25.00
D. None of these answer choices is correct
Answer: C
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