I bring this question up in response to CFAI 2011 PM Mock #57. In the book, they talked about justified P/E alot and importantly, always specified trailing or leading P/E. In this question they ask for the intrinsic P/E and do not specify. In the explanation they use the same equation as for justified forward P/E. (1-b)/(r-g)
Does anyone know what the distinction is between justified and intrinsic or if we should assume forward P/E when it’s not specified?
Thank you