15. Sam is a 50 share shareholder in MOP Inc. that earned $2 million, had 100,000 shares outstanding and a price-earnings ratio of 18. What is the current market value of Sam s investment in MOP Inc.?

a. $1800

b. $360

c. $18,000

d. $15,000

23. The Greenspan Model attempts to estimate the relative valuation of the stock market by:

a. subtracting the 10-year Treasury bond yield from the S&P 500 earnings yield.

b. comparing the U.S. T-Bill rate with the E/P ratio of the broad market.

c. subtracting the S&P earnings yield from the yield on a long-term U.S. Treasury bond.

d. subtracting the S&P dividend yield from the 10-year Treasury yield.