Fixed asset turnover ratio

Verizon Communications Inc. is a major telecommunications company in the United States. Two recent balance sheets for Verizon disclosed the following information regarding fixed assets:

	End of Year (in millions)			Beginning of Year (in millions)
Property, plant, and equipment		$220,163			$230,508
Less accumulated depreciation		136,622			140,561
Property, plant, and equipment (net)		$ 83,541			$ 89,947

Verizons revenue for the year was $131,620 million. Assume that the fixed asset turnover ratio for the telecommunications industry averages approximately 1.1.

a. Determine Verizons fixed asset turnover ratio. Round to one decimal place. [___]