Red Company and White Company reported the following information in their financial statements, prior to their merger: Red Company White Company $millions Sales COGS Inventories Sales COGS Inventories 2016 $57,000 $48,250 $13,340 $88,560 $80,250 $33,800 2015 55,000 34,240 17,880 92,100 56,800 31,800 To the closest hundredth, how much is the 2016 inventory turnover for Red Company?
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