The restaurant industry's average P/E ratio is 23. Darden Restaurants sells currently for $31.00 and they earned $1.15 per share last year. Is it more expensive or less expensive than the industry on the P/E valuation measure?

Question 9 options:

	The P/E is higher and less expensive than the industry
	The P/E is lower and it is more expensive than the industry
	The P/E is lower and it is less expensive than the industry
	The P/E is higher and it is more expensive than the industry