Newton Corporation was organized on January $1,201.$ On that date, it issued $200,000$ shares of its $\backslash (\backslash$$ $10\backslash )$ par value common stock at $\backslash (\backslash$$ $15\backslash )$ per share $(400,000$ shares were authorized$).$ During the period from January $1,20$X$1,$ through December $31,20$X$3,$ Newton reported net income of $\backslash (\backslash$$ $750,000\backslash )$ and paid cash dividends of $\backslash (\backslash$$ $380,000\backslash ).$ On January $5,20$X$3,$ Newton purchased $12,000$ shares of its common stock at $\backslash (\backslash$$ $12\backslash )$ per share. On December $31,20$X$3,$ the company sold $8,000$ treasury shares at $\backslash (\backslash$$ $8\backslash )$ per share.

Required:

What is the book value of total shareholders' equity as of December $31,203?$

Answer is complete but not entirely correct.