Airline Accessories has the following current assets: cash, $99 million; receivables, $91 million; inventory, $179 million; and other current assets, $15 million. Airline Accessories has the following liabilities: accounts payable, $92 million; current portion of long-term debt, $32 million; and long-term debt, $20 million. Based on these amounts, calculate the current ratio and the acid-test ratio for Airline Accessories.
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