x = 2

x = 3 not 2

6) The JJ company's 2020 net income is $100000, the dividend payout ratio is 0.x and the number of shares is x0000. The P/E ratios of the JJ company's competitors are given below. What is the estimated share price for JJ company? (10 pts) Name of the Company P/E Ratio CAS 12.3 PRS 15.7 SBT 19.2 SLM 9.4 NBD 13.3 XYZ 18.4 ASD ISS