(Market value analysis) Lei Materials' balance sheet lists total assets of $1.38 billion, $184 million in current liabilities, $426 million in long-term debt, $770 million in common equity, and 52 million shares of common stock. If Lei's current stock price is $47.52, what is the firm's market-to-book ratio?

The market-to-book ratio is

enter your response here.

(Round to two decimal places.)