NO.PZ201710200100000109
问题如下：
9. Based on Exhibit 1, the growth component of the leading P/E is largest for:
选项：
A.ABTD.
B.BKKQ.
C.CPMN.
解释：
C is correct.
The leading P/E is calculated as follows:
P0/E1 = [1/r] + [PVGO/E1],
where, 1/r captures the no-growth component of P/E and PVGO/E1 captures the growth component of the P/E. PVGO is computed as follows:
PVGO (ABTD) = P0 – E1/r = 80.00 – [7.30/0.105] = C$10.48,
PVGO (BKKQ) = P0 – E1/r = 39.00 – [2.12/0.08] = C$12.50,
PVGO (CPMN) = P0 – E1/r = 27.39 – [1.90/0.12] = C$11.56,
where, P0 is the current price per share, E1 is the forecasted earnings per share, and r is the required rate of return.
The growth component of the P/E for each stock [PVGO/E1] is:
ABTD: 10.48/7.30 = 1.44×
BKKQ: 12.50/2.12 = 5.90×
CPMN: 11.56/1.90 = 6.08×
em，，，我是用 80/7.3-（1/0.105）=p/e-1/r来算的，突然看不懂答案了10.48是怎么来的，请问我该如何理解答案的公式化解？
