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MARKET/BOOK RATIO Edelman Engines has $3 billion in total assets. Its balance sheet shows $0.3 billion in current liabilities, $1.95 billion in long-term debt, and

MARKET/BOOK RATIO Edelman Engines has $3 billion in total assets. Its balance sheet shows $0.3 billion in current liabilities, $1.95 billion in long-term debt, and $0.75 billion in common equity. It has 800 million shares of common stock outstanding, and its stock price is $42 per share. What is Edelman's market/book ratio? Round your answer to two decimal places

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