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Floyd's corporation has $23,000 in current liabilities and $34,000 in current assets. Its initial inventory level is $6,000; and it will rise funds as additional notes payable and use them to increase inventory. How much can Floyd's short-term (notes payable) increase without pushing its current ratio below 1.1 For your answer, round to the nearest 0.01. Do not use the dollar ($) sign. DO NOT USE commas to separate thousands.
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