Bond corporation had a current ratio of 1.2, and the current assets and current liabilities were $150,000 and $125,000, respectively. This working capital position means that

Select one:

a. current assets at book value are 1.2 times current liabilities at book value.

b. the market value of the current assets exceeds the market value of the current liabilities by a factor of 1.2.

c. none of the above.

d. the company has a negative working capital.