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Klingon Widgets, Inc. purchased new cloaking machinery three years ago for $4.3 million. The machinery can be sold to the Romulans today for $6.5 million. Klingon's current balance sheet show net fixed assets of $3.1 million, current liabilities of $740,000, and net working capital of $133,000. If all the current assets were liquidated today, the company would receive $855,000 cash. What is the book value of Klingon's assets today?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M968459

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