(Market value analysis) Lei Materials' balance sheet lists total assets of $1.29 billion, $198 million in current liabilities, $472 million in long-term debt, $620 million in common equity, and 53 million shares of common stock. If Lei's current stock price is $47.77, 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 $1.29 billion, $198 million in current liabilities, $472 million in long-term debt, $620 million in common equity, and 53 million shares of common stock. If Lei's current stock price is $47.77, what is the firm's market-to-book ratio? The market-to-book ratio is (Round to two decimal places.)