(Liquidity Analysis). The king Carpet Company has $2.840,000 in cash and a total of $11,900,000 in current assets. The fimis current fablities equal 56 . 840,000 wuch ihat the firm's current ratio equals 17 . The company's managers want to redice the firmis cash holdings down to $1,140,000 by paying 5559 000 in cash so expand the fimis trick tleet and using 51.441 .000 in cash to retire a shortterm note. If they catty thit plan throught what with happen to the firmis current ratle? The new cunent ratio it (Found to ene decimal place ) (Liquidity Analysis) The King Carpet Company has $2,840,0000 in cash and a total of $11.900.000 in current assets The firm's current \$ablities aqual 56,840,000 such chat the firmi's current ratio equals 1.7 . The company's managors want to reduce the firm's cash holdiogs down to 51.140 .000 by paying 5559.000 in casth to expand the lirkiri biuck fleet and using 51,141,000 in cash to retire a short-term note. If thay catry this plan through, what wil happen to the limmis current ratio? The new curtent ratio is (Reand to one decimat place)