Daniel Corporation had net income for 2024 of $73,000. Daniel had 15,000 shares of common stock outstanding at the beginning of the year and 20,000 shares of common stock outstanding at the end of the year. There were 8,000 shares of preferred stock outstanding all year. During 2024, Daniel declared and paid preferred dividends of $19,000. On December 31, 2024, the market price of Daniel's common stock is $50 per share and the market price of its preferred stock is $71 per share. What is Daniel's price/earnings ratio at December 31, 2024? (Round any intermediate calculations and your final answer to the nearest cent.) OA. 22.98 OB. 13.7 OC. 16.18 OD. 17.02

Daniel Corporation had net income for 2024 of $73,000. Daniel had 15,000 shares of common stock outstanding at the beginning of the year and 20,000 shares of common stock outstanding at the end of the year. There were 8,000 shares of preferred stock outstanding all year. During 2024, Daniel declared and paid preferred dividends of $19,000. On December 31, 2024, the market price of Daniel's common stock is $50 per share and the market price of its preferred stock is $71 per share. What is Daniel's price/earnings ratio at December 31, 2024? (Round any intermediate calculations and your final answer to the nearest cent.) OA. 22.98 OB. 13.7 OC. 16.18 OD. 17.02

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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