Accounting · Ratio Analysis

The following summarized statement of financial position is available for L Co.: Non-Current assets: $31,250,000 Current assets: - Inventory: $35,000,000 - Receivables: $40,000,000 - Cash: $1,250,000 Total Assets: $107,500,000 Equity and Liabilities: - Capital and reserves: $47,500,000 - Current liabilities (Payables only): $35,000,000 - Non-current liabilities: $25,000,000 Total Equity and Liabilities: $107,500,000 What is the value of the acid test (quick) ratio?