On December 1^st 2020, AcuquirerCo acquired TargetCos 100% shares. The M&A deal that took place between TargetCo and AcquirerCo with a Fixed Exchange Ratio Structure based on basic shares outstanding. According to the terms of the agreement, AcquirerCo delivered its 150 mil shares to TargetCo in exchange of TargetCos 100% basic shares. Assumptions are as shown below ($ in million, except per share data; shares in millions).

Offer Price Per Share	$25
Acquirer Share Price	$75
Acquirer Shares Exchanged	100
TargetCo's Debt	$900
TargetCo's Preferred Stock	$150
TargetCo's Minority Interest	$350
TargetCo's Cash	$200
TargetCo's Sales (2014:Q1 Reported Financial Statement)	$1500
TargetCo's Sales (2013:Q4 Reported Financial Statement)	$3750
TargetCo's Sales (2013:Q3 Reported Financial Statement)	$3000
TargetCo's Sales (2013:Q2 Reported Financial Statement)	$2000
TargetCo's Sales (2013:Q1 Reported Financial Statement)	$1250

Tranches	Number of Shares (mil)	Exercise Price
#1	100	$26
#2	150	$28
#3	250	$32

What is the EV/LTM Sales multiple for TargetCo?

1)4.25

2) 2.76

3) 3.11

4) 2.25