During the current year, Kite Corporation had average total assets are $500,000, total asset turnover of 1.10, and a net profit margin percentage of 12.0%. Kite's interest expense equals 5.0% of its total liabilities and its income tax rate is 21.0%. For purposes of computing its operating incomer(or EBIT). Kite's contribution margin ratio is 25%. If Kite's return on equity is 6.6%, what is Kite's equity multiplier? Round to two decimal points