Exhibit 9.11 USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S) Modular Industries currently has market multiple is 10. 16 percent annual growth rate, while the market average is 6 percent. The 43. Refer to Exhibit 9.11. Determine the justified P/E ratio for Modular Industries assuming Modular can maintain its superior growth rate for the next five years. a. 6.4 b. 13.1 c. 16.5 d. 23.8 e. 15.7. 44. Refer to Exhibit 9.11. Determine the P/E ratio for Modular Industries assuming Modular can maintain its superior growth rate for the next eight years. a. 6.4 b. 20.5 c. 16.5 d. 23.8 e. 29.5