(Price book) Chang, Inc.'s balance sheet shows a stockholders' equity-book value (total common equity) of $753,400. The firm's earnings per share is $2.99, resulting in a price/earnings ratio of 12.77X. There are 51,000 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.)