An analyst collects the following data for a company: - Current stock price =$58.35 - Common stock (issued 90,000 common shares) =$1,000,000 - Preferred stock (issued 3,000 preferred shares) =$145,000 - Additional paid-in capital =$4,000 - Retained earnings =$60,000 - Total shareholders' equity =$1,065,000 The company's P/B ratio is closest to: Round your answer to one decimal