At year-end, Snow, Inc. has cash of $22,000, current accounts receivable of $80,000, merchandise inventory of $24,000, and prepaid expenses totaling $6,000. Liabilities of $64,000 must be paid next year. What is Snow's acid-test ratio? (round your answer to two decimal places)

a. 1.97

b. 0.34

c. 1.59

d. cannot be determined from data given