3.33333 poin QUESTION 7 Razorback, Inc., which has no debt financing has the following income statement and statement of cash flow information Total operating expenses $ 49,000,000 Depreciation expense $3,000,000 Amortization of software development costs 51.100.000 Net income 510,000,000 Cash flow used in investing activities $ 8,000,000 () {a} Includes software development expenses of $3,500,000 Razorback has a current stock price of $26 per share and 15 million shares of common stock outstanding What would the company's price / earnings ratio be if it expensed rather than amortized the software development costs? Assume that the company's current effective tax rate of 30% would not change 49.1 b. 45 C. 42.6 d. 46.9 39.0