Question: (Market value analysis) Lei Materials' balance sheet lists total assets of $1.19 billion, $135 million in current liabilities, $402 million in long-term debt, 5653 million

(Market value analysis) Lei Materials' balance sheet lists total assets of

(Market value analysis) Lei Materials' balance sheet lists total assets of $1.19 billion, $135 million in current liabilities, $402 million in long-term debt, 5653 million in common equity, and 58 million shares of common stock. If Lei's current stock price is $54.78, what is the firm's market-to-book ratio? The market-to-book ratio is . (Round to two decimal places.)

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