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The market price of Friden Company's common stock increased from $15 to $18. Earnings per share of common stock remained unchanged. The company's price-earnings ratio

The market price of Friden Company's common stock increased from $15 to $18. Earnings per share of common stock remained unchanged. The company's price-earnings ratio would:

A)Increase

B)Decrease

C)Remain unchanged

D)Impossible to determine

Its the company price earnings ratio would increase? 18-15=3/15=.2*100=20?

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