The US Supreme court has supported time- and format-shifting in several court cases (usually involving videos rather than books). That's why we even have video recorders.
The DMCA changed much of that, but since the original book is not digital, the DMCA would not apply.
Of course, the OP does not own a valid copy of the work, so the format-shifting cases would not apply, either.
So it's probably legal to copy a book one owns, for one's own use. It may even be legal to have someone else do it, provided one retains the original or it is destroyed. But since there have been no actual court rulings, this is all very much a legal gray area. However, here in America, we generally go by 'everything not forbidden is allowed.'
In either case, the police are unlikely to come knocking as long as you do not distribute the work. Putting it on the Internet unless you're the rights holder would be a big no-no both ethically and legally.