Gary Cliff is an equity analyst for Plettenburg Limited. The tool that Plettenburg uses to compare share valuations is the dividend discount model. The firm particularly evaluates shares in terms of justified multiples of earnings, sales and dividends. Over time, these multiples seem to provide a good check on the market valuation of a share relative to the company's fundamentals. Gary will derive valuation estimates from selected financial information in respect of a company in the telecommunications industry, namely Plettenberg Limited, for the year ended 31 December 2020. Plettenburg Limited Current stock price per share Sales per share Earnings per share (EPS) for current year Dividends per share (DPS) for current year ROE Book value per share Required return on equity R30 R70 R5.00 R3.00 16% R32 15% Determine the justified price-to-sales ratio (P/S) of Plettenburg Limited. a. 0.85 b. 0.53 c. 0.35