You are provided with quarterly linancial for Target corporation (Target Corp Data, for HW3.xlsx). Answer the following questions: 1) What is Target's P/E in Q4 of 2014 ? (Note: epsfl2 is the EPS of the previous 12 months relative to the fiscal quarter end. We refer to it as a trailing twelve months (TTM) EPS.) 2) Compute P/E for each quarter. In which quarter Target had the lowest P/E ratio? 3) Take the quarter in which Target had the lowest P/E.| a. What is the 1-year forward return for this quarter? b. What is the 2-year forward return for this quarter? 4) For each quarter in the dataset, compute 1-year forward return. Compute correlation between P/E and the 1-year forward return. 5) For each quarter in the dataset, compute 2-year forward return. Compute correlation between P/E and the 2-year forward return. 6) Comment on the correlations computed in 5) and 6). What important lesson these correlations demonstrate? You are provided with quarterly linancial for Target corporation (Target Corp Data, for HW3.xlsx). Answer the following questions: 1) What is Target's P/E in Q4 of 2014 ? (Note: epsfl2 is the EPS of the previous 12 months relative to the fiscal quarter end. We refer to it as a trailing twelve months (TTM) EPS.) 2) Compute P/E for each quarter. In which quarter Target had the lowest P/E ratio? 3) Take the quarter in which Target had the lowest P/E.| a. What is the 1-year forward return for this quarter? b. What is the 2-year forward return for this quarter? 4) For each quarter in the dataset, compute 1-year forward return. Compute correlation between P/E and the 1-year forward return. 5) For each quarter in the dataset, compute 2-year forward return. Compute correlation between P/E and the 2-year forward return. 6) Comment on the correlations computed in 5) and 6). What important lesson these correlations demonstrate