问题
单项选择题
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%
答案
参考答案：B
解析：
P1/E1=(D1/E1)/(k-g)，D1/E1=1-留存比率(retentionratio)； 16=(1-60%)/(r-6%)，r=8.50%。