The City of Tallahassee reported the following balances for…

The City of Tallahassee reported the following balances for its General Fund at year end: Cash: $18,000,000 Investments (short-term): $6,000,000 Receivables (net): $10,000,000 Inventory: $2,000,000 Prepaid Items: $1,000,000 Current Liabilities: $20,000,000 What is the City’s quick ratio? Note: You can access the onscreen calculator.