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(Price book) Chang, Inc.'s balance sheet shows a stockholders' equity book value (total common equity) of $758,100. The firm's eamings per share is $3.01, resulting

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(Price book) Chang, Inc.'s balance sheet shows a stockholders' equity book value (total common equity) of $758,100. The firm's eamings per share is $3.01, resulting in a price/earnings ratio of 12.97X. There are 55,000 shares of common stock outstanding. What is the price/book ratio? What does this indicate about how shareholders view Chang, Inc? The price/book ratio is (Round to two decimal places.)

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