Balance sheet data for Lava Petroleum as of 12/31/28 is as follows for Lease Y:

Leasehold costs	$725,000
Less: Accumulated DD&A	($260,000)
Net leasehold costs	$465,000
Wells and related E&F—IDC	$3,500,000
Less: Accumulated DD&A—IDC	($1,500,000)
Net wells and related E&F—IDC	$2,000,000
Wells and related E&F—L&WE	$1,950,000
Less: Accumulated DD&A—L&WE	($290,000)
Net wells and related E&F—L&WE	$1,660,000

Lava’s activities during 2029 related to Lease Y were as follows:

Exploratory dry hole drilled	$875,000
Development dry hole drilled	$950,000
Tanks, separators, etc., installed	$360,000
Production	350,000 bbl
Proved reserves, 12/31/29	3,500,000 bbl
Proved developed reserves, 12/31/29	3,200,000 bbl

Requirement:
 Calculate the Total Equity for 2029.