The following information is taken from the financial statements of Corwin Water District 2, an Enterprise Fund. The revenue bonds were issued to construct water mains. Based on these data, compute the amount that the Fund should report on its statement of net position, as net investment in capital assets.
Buildings	$1,100,000
Water mains and equipment	5,200,000
Accumulated depreciation, capital assets	2,300,000
Current portion of revenue bonds payable	450,000
Long-term portion of revenue bonds payable	1,800,000
Use the box below for your answer. Please show all your work.