The Widget Co. purchased new machinery three years ago for $4 million.
The machinery can be sold to the Roman Co. today for $2 million. The
Widget Co.’s current balance sheet shows net fixed assets of $2,500,000,
current liabilities of $1,375,000, and net working capital of $725,000. If all
the current assets were liquidated today, the company would receive $1.9
million in cash. The book value of the Widget Co.’s assets today is _____ and
the market value of those assets is _____.