Farm Product Inc. has the following information for fiscal year ending 12/31/X6: Net sales $13,877,000; total assets $9,857,000, net income $1,155,600. For fiscal year ending 12/31/X7 : Net sales $14,412,000; total assets $7,995,000; net income $1,341,000. Compute asset turnover for the year X7. a. 1.46 b. 1.55 c. 1.61 d. 1.02 e. 1.29