(Market value analysis) Lei Materials' balance sheet lists total assets of $1.08 billion, $123 million in current liabilities, $497 million in long-term debt, $460 million in common equity, and 54 million shares of common stock. If Lei's current stock price is $50.43, what is the firm's market-to-book ratio? The market-to-book ratio is .. (Round to two decimal places.)

(Market value analysis) Lei Materials' balance sheet lists total assets of $1.08 billion, $123 million in current liabilities, \$497 million in long-term debt, $460 million in common equity, and 54 million shares of common stock. If Lei's current stock price is $50.43, what is the firm's market-to-book ratio? The market-to-book ratio is (Round to two decimal places.)