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A retailer's current assets are $7.4 million.Presently,his current ratio is 1.5.The retailer wants to borrow money to find and expansion;however,a lender tells him that,to borrow

A retailer's current assets are $7.4 million.Presently,his current ratio is 1.5.The retailer wants to borrow money to find and expansion;however,a lender tells him that,to borrow money,the retailer must bring his current ratio up to 2.0.What is the retailer's current liabilities?By how much must he reduce his current liabilities to obtain a loan,assuming that current assets remain constant?

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