The Nelson Company has $1,471,500 in current assets and $545,000 in current liabilities. Its initial inventory level is $410,000, and it will raise funds as additional notes payable and use them to increase inventory. How much can Nelson's short-term debt (notes payable) increase without pushing its current ratio below 1.8? Do not round intermediate calculations. Round your answer to the nearest dollar.

Quick ratio =1,471,500-545,000= 926,500

965,500-410,000= 516,500*1.8

929,700

I would like to know if my formula correct!