Tendra Corporation's price-to-sales ratio (P0 / S0) is 2.90. The company's ROE is 27.0% and the profit margin on sales is 10.24%. The dividend payout ratio is 0.669 and the expected growth rate in dividends is 9% (perpetual). The required return on equity is 11.5%. You wish to compute a justified price-to-sales ratio to compare to the firm's actual value. Estimate Tendra's justified price-to-sales ratio. (Estimate ratio to the nearest 0.01.)