Lloyd Inc. has sales of $450,000, a net income of $36,000, and the following balance sheet: Cash $70,560 Accounts payable $104,580 Receivables 167,580 Notes payable to bank 40,320 Inventories 680,400 Total current liabilities $144,900 Total current assets $918,540 Long-term debt 223,020 Net fixed assets 341,460 Common equity 892,080 Total assets $1,260,000 Total liabilities and equity $1,260,000 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, 1.75x, without affecting sales or net Income. If inventories are sold and not replaced thus reducing the current ratio to 1.75x); If the funds generated are used to reduce common equity (stock can be repurchased at book value); and I 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