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MARKET/BOOK RATIO Edelman Engines has $18 billion in total assets. Its balance sheet shows $0.9 billion in current liabilities, $9.9 billion in long-term debt, and

MARKET/BOOK RATIO

Edelman Engines has $18 billion in total assets. Its balance sheet shows $0.9 billion in current liabilities, $9.9 billion in long-term debt, and $7.2 billion in common equity. It has 500 million shares of common stock outstanding, and its stock price is $27 per share. What is Edelman's market/book ratio? Round your answer to two decimal places.

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