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The following balance sheet information is provided for Duke Company for Year 2: AssetsCash$5,400Accounts receivable15,500Inventory18,000Prepaid expenses1,600Plant and equipment, net of depreciation20,200Land19,950Total assets$80,650Liabilities and Stockholders' EquityAccounts

The following balance sheet information is provided for Duke Company for Year 2:

AssetsCash$5,400Accounts receivable15,500Inventory18,000Prepaid expenses1,600Plant and equipment, net of depreciation20,200Land19,950Total assets$80,650Liabilities and Stockholders' EquityAccounts payable$4,500Salaries payable11,500Bonds payable (Due in ten years)19,000Common stock, no par30,000Retained earnings15,650Total liabilities and stockholders' equity$80,650

What is the company's current ratio?(Round your answer to 2 decimal places.)

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