13. Greene, Inc.'s balance sheet indicates that the book value of stockholders' equity (book value per sharetotal shares outstanding) is $750,100. The firm's earnings per share are $2.85, which produces a price-earnings ratio of 12.31. If there are 50,000 shares of common stock outstanding, what is the firm's market-to-book ratio (i.e., the ratio of price per share to book value per share)? What does the market-to-book ratio tell us?

The market-to-book ratio is ___

(Round to two decimal places.)