问题
单项选择题
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.
答案
参考答案：A
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