(Liquidity Analysis) The King Carpet Company has $2,800,000 in cash and a total of $12,670,000 in current assets. The​

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(Liquidity Analysis)  The King Carpet Company has
$2,800,000
in cash and a total of
$12,670,000
in current assets. The​ firm's current liabilitiesequal
$5,090,000
such that the​ firm's current ratio equals
2.5.
The​ company's managers want to reduce the​ firm'scash holdings down to
$1,150,000
by paying
$539,000
in cash to expand the​ firm's truck fleet and using
$1,111,000
in cash to retire a​ short-term note. If they carry thisplan​ through, what will happen to the​ firm'scurrent​ ratio?
Question content area bottom
Part 1
The new current ratio is
enter your response here.
​(Round to one decimal​ place.)