The following table supplies data on earnings per share (EPS), book value per share (BVPS), and the Beta Inc.'s return on equity (ROE). Beta Inc.'s current stock price is $32.0 per share. Historical and forecast EPS, BVPS and ROE of Beta Inc. (currency in $) 2006 2011 2010 1.05 0.84 2008 0.69 2.65 2012F 1.12F 2009 0.70 2.99 EPS BVPS ROE 2007 0.68 2.80 24.3% 0.82 3.90 3.00 28.0% 3.72 22.0% 4.03F 27.8%F 26.0% 23.4% 26.9% a) Using historical (2006-2011) average EPS for normalization, the P/E based on the normalized EPS is equal to 1 (1 decimal place) b) Using historical (2006-2011) average ROE for normalization, the P/E based on the normalized EPS is equal to (1 decimal place)