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It has 800 million shares of common stock outstanding and

Edelman Engines has $7 billion in total assets. Its balance sheet shows $1.05 billion in current liabilities, $4.9 billion in long-term debt, and $1.05 billion in common equity. It has 800 million shares of common stock outstanding, and its stock price is $35 per share. What is Edelman's market/book ratio? Round your answer to two decimal places. x

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