单选题
A company has a "0" earnings retention rate, the firm"s P/E ratio will equal:
A、
1/k.
B、
D/P+g.
C、
k+g.
【正确答案】
A
【答案解析】
P/E = dividend payout ratio/(k-g)
where g=( retention rate) (ROE) =(0)(ROE)=0
Dividend payout=1-retention ratio =1-0=1
P/E=1/(k-0)=1/k
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