On January 1, 2000, Jack deposited $1000 into Bank X to earn interest at the rate of j per annum compounded semiannually. On January 1, 2005, he transferred his account to Bank Y to earn interest at the rate of k per annum compounded quarterly. On January 1, 2008, the balance at Bank Y was $1990.76. If Jack could have earned interest at the rate of k per annum compounded quarterly from January 1, 2000, through January 1, 2008, his balance would have been $2203.76. Which of the following represents the ratio k/j?

a. 1.25 

b. 1.30

c. 1.35 

d. 1.40 

e. 1.45