$3$

Recently, the owners of Peacock Cellars encountered severe legal problems and are trying to sell their business. The firm built a building at a cost of $$1,220,000$ that is currently appraised at $$1,420,000.$ The equipment originally cost $$700,000$ and is currently valued at $$447,000.$ The inventory is valued on the balance sheet at $$390,000$ but has a market value of only one$-$half of that amount. The owner expects to collect $97$ percent of the $$215,200$ in accounts receivable. The firm has $$10,300$ in cash and owes a total of $$1,420,000.$ The legal problems are personal and unrelated to the actual business. What is the market value of this firm?