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4. The Trunk Co. purchased new machinery three years ago for $5 million. The machinery can...

4. The Trunk Co. purchased new machinery three years ago for $5 million. The machinery can be sold today for $3 million. The Widget Co.'s current balance sheet shows net fixed assets of $2,800,000, current liabilities of $1,475,000, and net working capital of $725,000. If all the current assets were liquidated today, the company would receive $1.8 million in cash. The book value of the Widget Co.'s assets today is _____ and the market value of those assets is _____.

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