Nimoy Inc., purchased their only fixed asset, a widget machine, four years ago for $7.8 million. The same machinery can be sold today to Shatner Inc. for $4.65 million. Nimoy's current balance sheet shows net fixed assets of $2.75 million and current liabilities of $2.1 million. If all the current assets were liquidated today, the company would receive $1.2 million cash.

	What is the current market value of Nimoy's equity (common & preferred) if the market value of total liabilities is $1,462,500?
	Please explain step bt step, no excel please.