Question 3 (1 point) Three Apples, Inc. has come out with a new and improved product. As a result, the firm projects an ROE of 25%, and it will maintain a plowback ratio of.20. Its earnings this year will be $3 per share. Investors expect a 12% rate of return on the stock. At what P/E ratio would you expect Three Apples, Inc. to sell? Shipping Tool is mowing, 15.25 8.33 11.43 14.29