问题
单项选择题
An analyst gathered the following financial information about a firm:
Estimated EPS $10 per share
Dividend payout ratio 40%
Required rate of return12%
Expected long-term growth rate of dividends 5%
What would the analyst's estimate of the value of this company's stock be（）
A. $33.
B. $57.
C. $80.
答案
参考答案：B
解析：
(P/E)1=(D1/E1)/(k-g)=0.4/(0.12-0.05)=5.7
P1=$10×5.7=$57