Result 3. (Total: 15') The Method of Comparables: Dell Inc. Here are some accounting numbers and market values Reviewer (in millions) for Hewlett-Packard and Lenovo Group for 2008. These two computer manufacturers are considered to be comparables for Dell, Inc. Sales Earnings Book value Market Value $115,700 Hewlett-Packard Co. $84,229 $7,264 $38,526 14,590 Lenovo Group Ltd. 161 1, 134 6,381 a. Calculate price-to-sales, price-earnings (P/E), and price-to-book (P/B) ratios for Hewlett-Packard and Lenovo. (6) b. Dell reported the following numbers for fiscal year 2008: Book value $3, 735 million Sales Earnings $2,947 million $61,133 million Apply multiples for Hewlett-Packard and Lenovo to price Dell's 2,060 million outstanding shares. What difficulties did you encounter? (9')