The Following Balance Sheet Information Is Provided for Duke Company

The following balance sheet information is provided for Duke Company for Year 2: $\begin{array}{lr}\text { Assets }\\\text { Cash } & \$ 5,600 \\\text { Accounts receivable } & 11,750 \\\text { Inventory } & 14,800 \\\text { Prepaid expenses } &1,600 \\\text { Plant and equipment, net of depreciation } & 19,500 \\\text { Land } & \underline{ 13,400 }\\\text { Total assets } &\underline{ \$ 66,650}\\\text { Liabilities and Stockholders' Equity }\\\text { Accounts payable } & \$2,790 \\\text { Salaries payable } &8,230 \\\text { Bonds payable (Due in ten years) } & 12,000 \\\text { Common stock, no par } & 16,500 \\\text { Retained earnings } &\underline{ 27,130} \\\text { Total liabilities and stockholders' equity }& \$66,650\end{array}$ What is the company's current ratio? (Round your answer to 2 decimal places.)

A) 1.40
B) 1.57
C) 3.06
D) 0.75