P2-5 Market Values and Book Values [LO1] Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $6.9 million. The machinery can be sold to the Romulans today for $4.45 million. Klingon's current balance sheet shows net fixed assets of $3.2 million, current liabilities of $2.2 million, and net working capital of $570,000. If all the current assets were liquidated today, the company would receive $1.55 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)