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(Price book) Chang, Inc.'s balance sheet shows a stockholders' equity book value (total common equity) of $756,700. The firm's earnings per share is $2.97, resulting

(Price book) Chang, Inc.'s balance sheet shows a stockholders' equity book value (total common equity) of $756,700. The firm's earnings per share is $2.97, resulting in a price/earnings ratio of 12.24X. There are 54,000 shares of common stock outstanding. What is the price/book ratio? The price/book ratio is _____. (Round to 2 decimal places)

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