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( Liquidity Analysis ) The King Carpet Company has $ 2 , 9 5 0 , 0 0 0 in cash and a total of

(Liquidity Analysis) The King Carpet Company has $2,950,000 in cash and a total of $12,540,000 in current assets. The firm's current liabilities equal $5,650,000 such that the firm's current ratio equals 2.2. The company's managers want to reduce the firm's cash holdings down to $1,010,000 by paying $539,000 in cash to expand the firm's truck fleet and using $1,401,000 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.)
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