Frusciante, Inc. has 190,000 bonds outstanding. The bonds have a par value of $2,000, a coupon rate of 6.8 percent paid semiannually, and 14 years to maturity. The current YTM on the bonds is 7.3 percent. The company also has 8.5 million shares of stock outstanding, with a market price of $29 per share. What is the companys market value debtequity ratio?

Find the answer, fill in the blank. (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.):

Debtequity ratio ___________ times