P/E multiples can be used to benchmark or determine the potential acquisition price. What is the implied purchase price for Whole Foods per share using the industry average projected P/E multiple. Assumptions: EPS 2016 $1.55, projected industry average P/E multiple of 20x, EPS growth rate of 5%, 320 million shares outstanding at 9/25/2016, $42 per share price actually paid by Amazon.

a. $42.00

b. $28.65

c. $32.55

d. None