The King Carpet Company has $2,820,000 in cash and a total of $11,170,000 in current assets. The firm's current liabilities equal $6,560,000 such that the firm's current ratio equals

1.7. The company's managers want to reduce the firm's cash holdings down to $1,010,000 by paying $576,000 in cash to expand the firm's truck fleet and using $1,234,000 in cash to retire a short-term note. If they carry this plan through, what will happen to the firm's current ratio?

The new current ratio is______?