Charlie's Cycles Inc. has $170 million in sales. The company expects that its sales will increase 7% this year. Charlie's CFO uses a simple linear regression to forecast the company's inventory level for a given level of projected sales. On the basis of recent history, the estimated relationship between inventories and sales (in millions of dollars) is as follows:

Inventories = $9 + 0.0935(Sales)

Given the estimated sales forecast and the estimated relationship between inventories and sales, what are your forecasts of the company's year-end inventory level? Enter your answer in millions. For example, an answer of $25,400,000 should be entered as 25.40. Do not round intermediate calculations. Round your answer to two decimal places.

$ million

What are your forecasts of the company's year-end inventory turnover ratio, assuming that its cost of goods sold is 65% of sales? Do not round intermediate calculations. Round your answer to two decimal places.

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