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Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $6 million. The machinery can be sold to the Romulans today for $4.85 million.

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Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $6 million. The machinery can be sold to the Romulans today for $4.85 million. Klingon's current balance sheet shows net fixed assets of $3 million, current liabilities of $1.6 million, and net working capital of $510,000. If all the current assets were liquidated today, the company would receive $1.8 million cash. What is the book value of Klingon's assets today? Hint: CA = NWC + CL

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