单选题 An analyst does research about equity valuation of Yelp Industry. Yelp's dividend growth rate is 6% and its dividend retention ratio is 60%. If the justified forward price-to-earnings ratio on Yelp's stock is 16, the implied required rate of return on equity is closest to:
A. 3.50%
B. 8.50%
C. 9.75%

【正确答案】 B

【答案解析】[解析] P₁/E₁=(D₁/E₁)/(k-g)，D₁/E₁=1-留存比率(retentionratio)； 16=(1-60%)/(r-6%)，r=8.50%。