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Question: the financial data of a firm during the past year...

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The financial data of a firm during the past year is as follows: (all values are in millions of dollars) Gross income: 17.1 Total sales: 14.6 Total credit sales: 8.1 Net income: 4.9 Cost of goods sold: 6.5 Total assets: 12.7 Average inventory: 3.1 Average receivables: 2.5 Compute the receivable turnover ratio. (Provide 2 significant digits)

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