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The Stewart Company has $1,847,000 in current assets and $683,390 in current liabilities. Its initial...

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Finance

The Stewart Company has $1,847,000 in current assets and $683,390 in current liabilities. Its initial inventory level is $406,340, and it will raise funds as additional notes payable and use them to increase inventory. How much can its short-term debt (notes payable) increase without pushing its current ratio below 2.0? Round your answer to the nearest cent.

25

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