Lloyd Inc. has sales of $400,000, a net income of $48,000, and the following balance sheet: Cash $59,640 Accounts payable $98,280 Receivables 163,800 Notes payable to bank 34,440 Inventories 361,200 Total current liabilities $132,720 Total current assets $584,640 Long-term debt 137,760 Net fixed assets 255,360 Common equity 569,520 Total assets $840,000 Total liabilities and equity $840,000 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, 2x, without affecting sales or net income. If inventories are sold and not replaced (thus reducing the current ratio to 2x); 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.