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On Air Corp. has cash of $20,000, A/R of $60,000, Inventory of $160,000, A/P of $40,000, Long-Term Debt of 500,000 and Net Fixed Assets $625,000.
On Air Corp. has cash of $20,000, A/R of $60,000, Inventory of $160,000, A/P of $40,000, Long-Term Debt of 500,000 and Net Fixed Assets $625,000. What is the quick ratio? (If needed, answer with up to two decimal places, for example, X.XX.)
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