Question: Please explain the solution to this general accounting problem with accurate principles. A business has a dividend payout ratio of 0.6, an expected growth rate

Please explain the solution to this general accounting problem with accurate principles.

A business has a dividend payout ratio of 0.6, an expected growth rate of 4% per year, and investors require a 9% return on their investment. What should be the price-earnings ratio? a. 10x b. 12x c. 15x d. 6x

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