Liquidity ratios and limitations) Manitoba Manufacturing Inc. (MMI) has a loan from the Canadian National Bank to help finance its working capital. The terms of the loan are that the bank will lend MMI an amount up to 34% of its inventory balance and 50% of its accounts receivable. One of the loan covenants requires that MMI maintain a current ratio greater than 2. Information related to MMIs current assets and current liabilities is shown in the following table:

In thousands		2020		2019
Cash		$126		$158
Accounts receivable		901		848
Inventory		1,969		1,646
Other current assets		226		275
Bank loan, current		406		192
Accounts payable		957		976
Other current liabilities		42		82

b) Based on the loan size requirement only of the loan covenant, what is the maximum amount of loan MMI could borrow in each year? (Round answers to 2 decimal places, e.g. 18.42.)

	2020	2019
Maximum loan (in thousands)