The King Carpet Company has $3,070,000 in cash and a total of $12,110,000 in current assets. The firm's current liabilities equal $5,380,000 such that the firm's current ratio equals 2.3.

The company's managers want to reduce the firm's cash holdings down to $1,150,000 by paying

$556,000 in cash to expand the firm's truck fleet and using $1,364,000 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 _____.

(Round to one decimal place.)