What is the numerical value of 1.50 / 1.222 x 10³? Express your answer using the correct number of significant figures.
1) 10⁻³
2) 1 x 10⁻³
3) 1.23 x 10⁻³
4) 1.227 x 10⁻³
5) 1.2 x 10⁻³