Problem $2-12$ Market Values and Book Values $[$LO$1]$

Klingon Widgets, Incorporated, purchased new cloaking machinery four years ago for $$4$ million. The machinery can be sold to the Romulans today for $$3\mathrm{.}5$ million. Klingon's current balance sheet shows net fixed assets of $$3$ million, current liabilities of $$730,000,$ and net working capital of $$228,000.$ If the current assets and current liabilities were liquidated today, the company would receive a total of $$1\mathrm{.}1$ million cash.

a$.$ What is the book value of Klingon's total assets today?

Note: Enter your answer in dollars, not millions of dollars, e$.$g$.,1,234,567.$

b$.$ What is the sum of the market value of NWC and the market value of fixed assets?

Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e$.$g$.,1,234,567.$