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Investments

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A firm has current assets that could be sold for their book value of $7 million. The book value of its fixed assets is $57 million, but they could be sold for $99 million today. The firm has total debt with a book value of $32 million but interest rate declines have caused the market value of the debt to increase to $47 million.

What is this firm's market-to-book ratio?

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