The King Carpet Company has

$3,050,000

in cash and a total of

$11,660,000

in current assets. The firm's current liabilities equal

$6,680,000

such that the firm's current ratio equals

1.7.

The company's managers want to reduce the firm's cash holdings down to

$1,140,000

by paying

$565,000

in cash to expand the firm's truck fleet and using

$1,345,000

in cash to retire a short-term note. If they carry this plan through, what will happen to the firm's current ratio?