Using multiples approach, calculate the stock price of Company J if the number of shares outsanding is 10 million. Analysts expected that the next year's earnings of J Company will be $350 million. The trailing earnings of Company J are $300 million. the median P/E ration is 3 and the average P/E ration is 4.

a. $108

b. $105

c. $122.5

d. $120

e. $118.5

f. $90