1.Fairbanks Inc., purchased a new warehouse five years ago for $12 million. The warehouse can be sold today for $14.5 million. The balance sheet shows that the warehouse is worth $8 million, current liabilities are $5 million and net working capital is $1.25 million. If all of the current accounts were liquidated today, the company would receive $6 million. Calculate the market value of the warehouse today. (Enter the number in millions, e.g., 5 million equals 5)

1A.Calculate the book value of the firm's assets.