Sandhill Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year:

		Cost		Retail
Beginning inventory		$ 26000		$ 41000
Purchases		150000		220000
Freight-in		2100
Net markups				8100
Net markdowns				8000
Employee discounts				1000
Sales revenue				165000

If the ending inventory is to be valued at the lower-of-cost-or-market, what is the cost-to-retail ratio?