P2-5 Market Values and Book Values [LO1] Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $7.8 million. The machinery can be sold to the Romulans today for $4.5 million. Klingon's current balance sheet shows net fixed assets of $2.75 million, current liabilities of $2 million, and net working capital of $500,000. If all the current assets were liquidated today, the company would receive $1.85 million cash. Required: (a)What is the book value of Klingon's assets today? (Click to select) (b)What is the market value? (Click to select) w