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Question 19, P4- 74.5%,14.9 of 20 23 (similar to) points Save Points: 0 of 1 (Liquidity analysis) The Mitchem Marble Company has a target current

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Question 19, P4- 74.5%,14.9 of 20 23 (similar to) points Save Points: 0 of 1 (Liquidity analysis) The Mitchem Marble Company has a target current ratio of 2.1 but has experienced some difficulties financing its expanding sales in the past few months. At present, the firm has a current ratio of 2.9 and current assets of $2.78 million. If Mitchem expands its receivables and inventories using its short-term line of credit, how much additional short-term funding can it borrow before its current ratio standard is reached? The additional amount of receivables and inventories (short-term debt) is \$ million. (Round to two decimal places.)

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