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1.10 Suppose a firm has the following information: Cash = $500,000; Short-term investments = $2.5 million; accounts receivable = $1.2 million; net plant and equipment

1.10 Suppose a firm has the following information: Cash = $500,000; Short-term investments = $2.5 million; accounts receivable = $1.2 million; net plant and equipment = $1.0 million. How much is tied up in operating current assets? Show your calculations.

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