$$\text{Book Value} = \text{Historical Cost} - \text{Acc. Depreciation}$$
$$\text{BV} = \sum_{i=1}^{n} A_i - \sum_{i=1}^{n} D_i$$
$$\text{Market Value} = \sum_{t=1}^{\infty} \frac{\text{Cash Flow}_t}{(1 + \text{WACC})^t}$$
$$\text{MV} = (P \times N) + D_{\text{market}}$$
Asset Original Value: $1,250,000
Accumulated Depr: -$450,000
Balance Sheet BV: $800,000
Shares Outstanding (N): 50,000
Stock Price (P): $48.50
Equity Market Value: $2,425,000