Start$-$Up Industries is a new firm that has raised $$390$ million by selling shares of stock.Management plans to earn a $20\%$ rate of return on equity, which is more than the $12\%$ rate of return available on comparable$-$risk investments. Half of all earnings will be reinvested in the firm.

What will be Start$-$Up$$s ratio of market value to book value?

Note: Do not round intermediate calculations.