NO.PZ2015122801000052
问题如下：
Bear Company is expected to have a payout ratio of 50% and growth rate of 10%. Assume the rate of return is 15%, What is the firm's leading price-to-earnings (P/E) ratio?
选项：
A.9x.
B.10x.
C.11x.
解释：
B is correct.
P/E=divident payout ratio /( k-g) = 0.5 / (0.15 - 0.1) = 10x.
B是正确的。
本题考察的是leading P/E的计算公式应用。
P/E1 = （1-b）/(k-g) = 0.5/(0.15-0.1) = 10
如果dividend payout ratio = 1 - RR
那么dividend payout ratio就是dividend吧、
dividend payout ratio 怎么会等于 D/E
dividend payout ratio直译不就是分红比例吗，一单位收益有多少是分红，多少是留存
P/E=divident payout ratio /( k-g) = 0.5 / (0.15 - 0.1) = 10x.
请问E在哪里，题目里在哪里体现？
