Master's Communications is a telecommunications company. Master's balance sheet disclosed the following information regarding fixed assets: Year 2 (in millions) Year 1 (in millions) Plant, property, and equipment $199,911 $190,806 Less accumulated depreciation 120,265 113,868 $79,646 $76,938 Master's revenue for Year 2 was $90,819 million. Assume the fixed asset turnover for the telecommunications industry averages approximately 1.18. a. Determine Master's fixed asset turnover ratio for Year 2. Round to two decimal places. b. Master is using its fixed assets less efficiently than the industry as a whole. Its fixed asset turnover ratio is lower than the telecommunications industry average fixed asset turnover ratio.