单选题 Assume the following information for a stock:
Beta coefficient = 1.50
Risk - free rate = 6%
Expected rate of return on market = 14%
Dividend payout ratio = 30%
Expected dividend growth rate = 11%
The estimated earnings multiplier (P/E ratio) is closest to:
A. 10.00. B. 3.33. C. 4.29.

【正确答案】 C
【答案解析】P/E = D/E1/(k-g)
D/E1= Dividend payout ratio = 0.3
g=0.11
k=6+1.5×(14-6)=18%
P/E=0.3/(0.18-0.11)=0.3/0.07=4.29