Luther Corporation

Consolidated Balance Sheet

December 31, 2006 and 2005 (in $ millions)

Assets	2006	2005	Liabilities and Stockholders' Equity	2006	2005
Current Assets			Current Liabilities
Cash	62	58.5	Accounts payable	87.3	73.5
Accounts receivable	56.9	39.6	Notes payable / short-term debt	10.1	9.6
Inventories	44.8	42.9	Current maturities of long-term debt	39.1	36.9
Other current assets	6	3.0	Other current liabilities	6.0	12.0
Total current assets	169.7	144.0	Total current liabilities	142.5	132.0
Long-Term Assets			Long-Term Liabilities
Land	66.6	62.1	Long-term debt	242.2	168.9
Buildings	107.8	91.5	Capital lease obligations
Equipment	120.9	99.6
Less accumulated depreciation	(54.7)	(52.5)	Deferred taxes	22.8	22.2
Net property, plant, and equipment	240.6	200.7	Other long-term liabilities
Goodwill	60.0		Total long-term liabilities	265	191.1
Other long-term assets	63.0	42.0	Total liabilities	407.5	323.1
Total long-term assets	363.6	242.7	Stockholders' Equity	125.8	63.6
Total Assets	533.3	386.7	Total liabilities and Stockholders' Equity	533.3	386.7

Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then Luther's market-to-book ratio would be closest to:

A. 2.59

B. 0.65

C. 1.3

D. 1.82