Problem:
Jaster Jets has $6 billion in total assets. Its balance sheet shows $0.6 billion in current liabilities, $3.9 billion in long-term debt, and $1.5 billion in common equity. It has 600 million shares of common stock outstanding, and its stock price is $50 per share.
Required:
Question 1: What is Jaster's market/book ratio?
Note: Please explain comprehensively and give step by step solution.