An analyst forecasts that the current core return on net operating assets of 15.5 percent will continue

Question:

An analyst forecasts that the current core return on net operating assets of 15.5 percent will continue indefinitely in the future with a 5 percent annual sales growth rate. She also forecasts that the current asset turnover ratio of 2.2 will persist. Calculate the enterprise price-to-book ratio if the required return for operations is 9.5 percent.

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.