4096 49. DO NOT NEED to Show your work: Peninsular Research is initiating coverage of a mature manufacturing industry. John Jones, CFA. head of the research department, gathers the data given in Exhibit 1-1 to help in his analysis. Exhibit 1.1 Fundamental Industry and Market Data Forecasted Industry Earnings Retention Rate Forecasted Industry Return on Equity 25% Industry Beta 1.2 Government Bond Yield 696 Equity Risk Premium 596 Compute the price-to-earnings (P/E) ratio for the industry based on the fundamental data in Exhibit 1-1. Show your work. A. 30 X B.35 X C. 28 X D. 34 X E. 22 X A