Genentech, a biotechnology company, reported current assets of $1,326.5 million and current liabilities of $484.1 million in 1999, and in 1998, current assets of $1,242.0 million and $291.3 million of current liabilities. Calculate the current ratio for 1999.
a. 3.31
b. 2.74
c. 2.65
d. 3.42