Nimoy Inc., purchased their only fixed asset, a widget machine, four years ago for $6.9 million. The same machinery can be sold today to Shatner Inc, for $4.7 million. Nimoy's current balance sheet shows net fixed assets of $3.35 million and current liabilities of $1.6 million. If all the current assets were liqqidated today, the company would receive $2 million cash. Use the balance sheet identity to determine the current market value of Nimoy's equity (common \& preferred) given that the market value of total liabilities is $1,675,000