Leaning Tower Construction, Inc., wants to find a buyer for it's company. Data regarding the company's assets/balance sheet are as follows: No Net Working Capital. No Long-term Debt. Two years ago, the company bought a large crain for $3,000,000. The company will depreciate the crain straight-line to zero over its estimated 6-year lifespan. The latest edition of the Big Crain Blue Book has the value of the crain listed as $2,500,000. Eyesore Construction, a competitor, has made an offer of $2,000,000 to buy the crain immediately. The rest of the company's fixed assets are showing a value of $7,000,000 on the current balance sheet. Buyouts-R-Us consulting company has informed the company that they could sell their other assets (not including the crain) today for $5,500,000.

Question 6: Another competitor, Colosseum Constrution, has expressed interest in buying the company. Assuming Leaning Tower wants to sell the entire company, including the large crain (they will not sell the crain to Eyesore), to Collosseum, and assuming they want to receive a purchase price that is at least 10% above the current market value of the firm's fixed assets, what is the lowest price they should be willing to accept for the company?