1. Jasper Inc. has a December 31 year-end.
a. Current assets are $30 million.
b. Current accrued liabilities are $9 million.

c. Short-term debt at December 31 is $4 million. The treasurer has indicated he intends to get this debt refinanced before its due date in September, but it is unlikely to happen before the financial statements are issued.

d. Long-term debt A of $4 million has equal principal payments over the next four years.

e. Long-term debt B is due in three years and has a principal balance of $6 million. The treasurer discovered a debt covenant violation in November and a waiver was obtained in December.

f. Long-term debt C is due in five years and has a principal balance of $5 million. The treasurer discovered a debt covenant violation in December and a waiver was obtained during the first week of January, prior to issuing the financial statements..

g. A provision must be established for a lawsuit that is expected to be settled sometime within the next year. The settlement range is between $ 6 million to $10 million with no one amount being a better estimate at this point in time.
Based on the following financial information, what should the calculation of the current ratio (current assets/current liabilities) be using US GAAP and IFRS?