As of February 2008, you are researching Jonash International, a hypothetical company subject to cyclical demand for its services. Jonash shares closed at $57.98 on February 2, 2007. You believe the 20032006 period reasonably captures average profitability:

Measure 2007 2006 2005 2004 2003

EPS E $3.03 $1.45 $0.23 $2.13 $2.55

BV per share E $19.20 $16.21 $14.52 $13.17 $11.84

ROE E 16.0% 8.9% 1.6% 16.3% 21.8%

Question at position 5 Calculate the P/E for Jonash from the normalized EPS based on the method of average ROE.

(Round your answer to 3 decimal places. For example, if your answer is 89.12345, enter 89.123)

1 point Calculate the P/E for Jonash from the normalized EPS based on the method of average ROE. (Round your answer to 3 decimal places. For example, if your answer is 89.12345, enter 89.123)