The news supplement assignments posted on Blackboard provided articles and questions related to news articles that students were assigned to research. Which of the following best reflects observations in the assigned article about Morningstar Direct's estimate of the level for the forward price-earnings ratio for the S&P 500,as compared to the forward price-earnings ratio for the MSCI World ex-USA Index

A.The forward P/E ratio of the Morningstar Direct's estimate of the MSCI World ex-USA Index is approximately 5 to 7, as compared to the estimate for the S&P 500 of approximately 12

B.The forward P/E ratio of the Morningstar Direct's estimate of the MSCI World ex-USA Index is approximately 8 to 9 , as compared to the estimate for the S&P 500 of approximately 14.

C.The forward P/E ratio of the Morningstar Direct's estimate of the MSCI World ex-USA Index is approximately 11 to 12, as compared to the estimate for the S&P 500 of approximately 16

D.The forward P/E ratio of the Morningstar Direct's estimate of the MSCI World ex-USA Index is approximately 15 to 16, as compared to the estimate for the S&P 500 of approximately 20

E.The forward P/E ratio of the Morningstar Direct's estimate of the MSCI World ex-USA Index is approximately 18 to 19, as compared to the estimate for the S&P 500 of approximately 24