Market/Book Ratio
Jaster Jets has $6 billion in total assets. Its balance sheet shows $1.2 billion in current liabilities, $3.6 billion in long-term debt, and $1.2 billion in common equity. It has 300 million shares of common stock outstanding, and its stock price is $39 per share. What is Jaster's market/book ratio? Round your answer to two decimal places.