How much can its short-term debt notes payable increase, Financial Management

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How much can its short-term debt notes payable increase

Current Ratio

The Petry Company has $1,789,500 in current assets and $662,115 in current liabilities. Its initial inventory level is $447,375, 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.

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