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Which of the following statements is FALSE? O A. For valuation purposes, the trailing P/E ratio is generally preferred, since it is based on actual not expected earnings. O B. Trailing eamings are the eamings over the previous 12 months. C. Forward earnings are the expected earnings over the conming 12 months. D. We can estimate the value of a firm's shares by multiplying its current earnings per share by the average P/E ratio of comparable firms