(Liquidity Analysis) The King Carpet Company has $3,100,000 in cash and a total of $12,310,000 in current assets. The firm's current liabilities equal $6,640,000 such that the firm's current ratio equals 1.9. The company's managers want to reduce the firm's cash holdings down to $1,180,000 by paying $580,000 in cash to expand the firm's truck fleet and using $1,340,000 in cash to retire a short-term note. If they carry this plan through, what will happen to the firm's current ratio? The new current ratio is. (Round to one decimal place.)