Multiple Choice
Napoli Industries had net income for Year 2 of $650,000. Napoli had an average number of shares outstanding at the end of the year of 500,000 shares. On January 1, Year 2, the market price of Napoli's stock was $20 per share. On December 31, Year 2, the market price was $22 per share. What is the price-earnings ratio for Napoli at the end of Year 2?
A) 16.9
B) 16.2
C) 15.4
D) None of these answer choices are correct.
Correct Answer:
Verified
Correct Answer:
Verified
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