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It has 700 million shares of common stock outstanding and

Jaster Jets has $11 billion in total assets. Its balance sheet shows $2.2 billion in current liabilities, $6.05 billion in long-term debt, and $2.75 billion in common equity. It has 700 million shares of common stock outstanding, and its stock price is $48 per share. What is Jaster's market/book ratio? Round your answer to two decimal places. Do not round intermediate calculations.

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