McDaniel Corporation had net income for 2016 of $72,000. McDaniel had 6,000 shares of common stock outstanding at the beginning of the year and 26,000 shares of common stock outstanding at the end of the year. There were 8,000 shares of preferred stock outstanding all year. During 2016, McDaniel declared and paid preferred dividends of $19,000. On December 31, 2106, the market price of McDaniel’s common stock is $48 per share and the market price of its preferred stock is $69 per share. What is McDaniel’s price/earnings ratio? (Round any intermediate calculations and your final answer to the nearest cent.)14.5015.3320.8517.33
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more