Company X has $1,800,000 in current assets and $600,000 in current liabilities. Its initial inventory level is $300,000, and it will raise funds as additional notes payable and use them to increase inventory.

How much can Company X short-term debt (notes payable) increase without pushing its current ratio below 2.0? Round your answer to the nearest cent.

What will be the firm's quick ratio after Company X has raised the maximum amount of short-term funds? Round your answer to two decimal places.