Fairchild Garden Supply expects $720 million of sales this year, and it forecasts a 15% increase for next year. The CFO uses this equation to forecast inventory requirements at different levels of sales: Inventories = $30.2 + 0.25(Sales). All dollars are in millions. The firm's cost of goods sold is expected to be 70% of sales. What is the projected inventory turnover ratio for the coming year? Do not round intermediate calculations.

a. 3.04 times

b. 2.44 times

c. 2.12 times

d. 2.76 times

e. 3.49 times