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CURRENT ASSETS $ 7 5 , 0 0 0 CURRENT LIABILITIES $ 3 0 , 0 0 0 NET INCOME $ 3 4 , 0

CURRENT ASSETS $

75, 000

CURRENT LIABILITIES $

30, 000

NET INCOME $

34, 000

NET SALES $

164, 500

AVERAGE TOTAL ASSETS $

150, 000

Based on this information, what is the company's asset turnover ratio?

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