Question: (Market value analysis) Lei Materials' balance sheet lists total assets of $1.48 billion, $129 million in current liabilities, $407 million in long-term debt, $944

(Market value analysis) Lei Materials' balance sheet lists total assets of $1.48 billion, $129 million in current liabilities, $407 million in long-term debt, $944 million in common equity, and 58 million shares of common stock. If Lei's current stock price is $47.65, what is the firm's market-to-book ratio? The market-to-book ratio is (Round to two decimal places.)

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