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The following is a partial list of account balances from the books of Probst Enterprise at the end of 2010:

Accounts payable $ 20,500
Accounts receivable 12,300
Accrued interest on short-term note payable 1,200
Cash 6,500
Wages payable 1,300
Income taxes payable 1,900
Inventory 10,000

Based solely upon these balances, what is the quick ratio?

 

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