Bevington Studio reported the following income statement and balance sheet amounts on December E 2007. 2007 2006 Net sales revenue (all credit) $950,000 lCost of goods sold 630,000 Gross profit 320,000 Selling and general expenses 230,000 Interest expense 20,000 Net income $70,000 Current assets $60,000 $55,000 Long-term assets 465,000 445,000 Total assets - 12131 $525,000 $500,000 Current liabilities $25,000 $20,000 Long-term liabilities 105,000 205,000 Common stockholders' equity - 12731 395,000 275,000 Total liabilities and $525,000 $500,000 stockholders' equity Inventory and prepaid expenses account for $20,000 of the 2007 current assets. Average inventory for 2007 is $15,000. Average net accounts receivable for 2007 is $30,000. Average one-day sales are $3,150. There are 7,000 shares of common stock outstanding. Total dividends paid during 2007 were $140,000. The market price per share of common stock is $21. What is the company's acid-test ratio? A) 1.60 B) 0.42 C) 2.40 D) 0.63