A firm has current assets that could be sold for their book value of $16 million. The book value of its fixed assets is $55 million, but they could be sold for $85 million today. The firm has total debt with a book value of $35 million, but interest rate declines have caused the market value of the debt to increase to $45 million. What is this firm's market-to-book ratio? (Round your answer to 2 decimal places.)

Match the given situations to the type of risks that a business may face while taking credit. 1. beta ltd. had taken a loan from a bank for a period of 15 years, but its sales are gradually showing a decline. 2. alpha ltd. has taken a loan for increasing its production and sales, but it has not conducted any research before making this decision. 3. delphi ltd. has an overseas client. the economy of the client’s country is going through severe recession. 4. delphi ltd. has taken a short-term loan from the bank, but its supply chain logistics are not in place. a. foreign exchange risk b. operational risk c. term of loan risk d. revenue projections risk