Problem $2-12$ Market Values and Book Values $[$LO$1]$

Klingon Widgets, Incorporated, purchased new cloaking machinery four years ago for $$8$ million. The machinery can be sold to the Romulans today for $$7\mathrm{.}3$ million. Klingon's current balance sheet shows net fixed assets of $$6$ million, current liabilities of $$760,000,$ and net working capital of $$219,000.$ If the current assets and current liabilities were liquidated today, the company would receive a total of $$1\mathrm{.}01$ million cash.

a$.$ What is the book value of Klingon's total assets today? $($Enter your answer in dollars, not millions of dollars, e$.$g$.,1,234,567.)$

b$.$ What is the sum of the market value of NWC and the market value of fixed assets? $($Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e$.$g$.,1,234,567.)$

a$.$ Book value of total assets

b$.$ Sum of the market value of NWC and market value of fixed assets