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The Mitchem Marble Company has a target current ratio of 2.0 but has experienced some difficulties financing its expanding sales in the past few months.
The Mitchem Marble Company has a target current ratio of 2.0 but has experienced some difficulties financing its expanding sales in the past few months. At present, the firm has a current ratio of 2.5 and current assets of $2.50 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? (in \$ million unit) Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a 0.35 b 0.40 C .45 d .50
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