(Answered) Marketbook ratioedelman engines has 11 billion in total

Finance

MARKET/BOOK RATIO

Edelman Engines has $11 billion in total assets. Its balance sheet shows $2.2 billion in current liabilities, $8.25 billion in long-term debt, and $0.55 billion in common equity. It has 600 million shares of common stock outstanding, and its stock price is $23 per share. What is Edelman's market/book ratio? Round your answer to two decimal places.

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