Answer:
Price earning ratio is 16.98 times
Explanation:
Earning per share = $3.24 per share
Book value = $22 per share
Market-to-book ratio = 2.5
Market to book ratio = Market price of share / book price of share
2.50 = Market price of share / 22
Market price of share = $22 x 2.5
Market price of share = $55
Price earning rartio = Market price / Earning per share
Price earning rartio = $55 / $3.24 = 16.98 times
