Leonatti Labs’ year-end price on its common stock is $42.24.

Leonatti Labs’ year-end price on its common stock is $42.24. The firm
has total assets of $48.00 million, debt ratio of 60 percent, no preferred stock, and 3 million shares of common stock outstanding.

Calculate the market-to-book ratio for Leonatti Labs. (Do not round intermediate calculations andround your final answer to 1 decimal place.)

Market-to-book ratio ………. times

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