You are analyzing a company and you are provided with the following exhibits. Exhibit 1 presents earnings and dividend data, and Exhibit 2 presents balance sheet data. Net sales were $3.182 billion in 2019. You estimate a required return of 15% for Margarheti and forecast growth in dividends of 6% into perpetuity. Margarheti's common share price is $62.49 and a preferre share trades for $4.5 per share. Exhibit 1. Earnings and Dividends for Margarheti, 2016-2020 2016 2017 2018 2019 2020 (E) 4.93 5.25 4.46 5.04 Earnings per share (EPS, $) 6.00 2.45 2.60 Dividends per share (DPS, S) 2.60 2.75 2.91 Return on equity (ROE) 13.01% 13.71% 11.58% 14.21% 14.96% Note: The data for 2016-2019 are actual and for 2020 are estimated. Exhibit 2. Summary Balance Sheet for Margarheti, Year Ended 31 December 2019 Assets ($ millions) N/A Cash and cash equivalents Accounts receivable 306.68 Inventory 346.35 Total current assets N/A Property and culinment net 910.58 Total assets Liabilities and Shareholders' Equity ($ millions) Current liabilities 234.68 Long-term debt 322.49 Total liabilities Preferred shares 72.76 Common shares 872.13 Retained earnings 123 Total shareholders' equity Total liabilities and shareholders' equity Notes: The market value of long-term debt is equal to its book value. Shares outstanding are 45.15 million of common shares and 16.59 million of preferred shares. Based on Exhibit 2. the price-to-book multiple for Margarheti is closest to which value? Round your answer to 2 decimal places