Lloyd Inc. has sales of $350,000, a net income of $38,500, and the following balance sheet: Cash $63,700 Accounts payable $70,000 Receivables 117,600 Notes payable to bank 30,100 Inventories 364,000 Total current liabilities $100,100 Total current assets $545,300 Long-term debt 129,500 Net fixed assets 154,700 Common equity 470,400 Total assets $700,000 Total liabilities and equity $700,000 The new owner thinks that inventories are excessive and can be lowered to the point where the current ratio is equal to the industry average, 2.25x, without affecting sales or net income. If inventories are sold and not replaced (thus reducing the current ratio to 2.25x); if the funds generated are used to reduce common equity (stock can be repurchased at book value); and if no other changes occur, by how much will the ROE change? Do not round intermediate calculations. Round your answer to two decimal places. % What will be the firm's new quick ratio? Do not round intermediate calculations. Round your answer to two decimal places.