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(Market value analysis) Lei Materials' balance sheet lists total assets of $1.31 billion, $148 million in current liabilities, $470 million in long-term debt, $692 million

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(Market value analysis) Lei Materials' balance sheet lists total assets of $1.31 billion, $148 million in current liabilities, $470 million in long-term debt, $692 million in common equity, and 60 million shares of common stock. If Lei's current stock price is $50.49, what is the firm's market-to-book ratio? The market-to-book ratio is (Round to two decimal places.)

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