Problem 8-13 Stock Valuation and PS [LO2] Z Space, Incorporated, is a new company and currently has negative earnings. The company's sales are $1.5 million and there are 120,000 shares outstanding. a. If the benchmark price-sales ratio is 4.0, 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 3.4? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)