Markus Company's common stock sold for $4.50 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this year's financial statements: Cash Accounts receivable Inventory Current assets Total assets Current liabilities Total liabilities Common stock, $1 par value Total stockholders' equity Ending Balance $ 40,000 $ 84,000 $ 70,600 $ 194,600 $ 699,000 $ 78,000 $ 184,000 Beginning Balance $ 40,200 $ 63,700 $ 84,000 $ 187,900 $ 755,600 $ 76,500 $ 165,600 $ 590,000 $ 152,000 $ 152,000 $ 515,000 $ 699,000 $ 755,600 This Year Total liabilities and stockholders' equity Sales (all on account) $980,000 $ 568,400 Cost of goods sold Gross margin $ 411,600 Net operating income. $ 263,250 Interest expense $ 13,500 Net income $ 174,825 15. What is the equity multiplier? (Round your answer to 2 decimal