How do you all calculate the justified trailing and leading PE?
In the CFAI Equity P. 249 they calculate the leading as (D0/E0)/(ke - g).
I tend to calculate trailing as (D1/E0)/(ke - g) and leading as (D1/E1)/(ke - g); which makes a lot more sense to me than what is mentionned in the textbook. We arrive at the same result though. Anyone would like to shed some light on this?
Thx!