TwitterMe, Inc., is a new company and currently has negative earnings. The company's sales are $1.6 million and there are 122,000 shares outstanding. a. If the benchmark price-sales ratio is 4.2, what is your estimate of an appropriate stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.) b. What if the price-sales ratio were 3.6? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)
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