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The Mitchem Marble Company has a target current ratio of 2.0 but has experienced some...

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Finance

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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. 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 shortterm line of credit, how much additional short-term funding can it borrow before its current ratio standard is reached? (in $ million unit)

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