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It has 700 million shares of common stock outstanding and

Edelman Engines has $10 billion in total assets. Its balance sheet shows $1 billion in current liabilities, $7.5 billion in long-term debt, and $1.5 billion in common equity. It has 700 million shares of common stock outstanding, and its stock price is $48 per share. What is Edelman's market/book ratio? Round your answer to two decimal places.

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