Quincy Corp., about to be liquidated, has the following amounts for its assets and liabilities:

	Book value	Net realizable value
Current assists	$ 200,000	$ 140,000
Land	70,000	100,000
Building	50,000	350,000
Equipment	30,000	160,000
Account payable	240,000
Income taxes payable	60,000
Mortgage payable	510,000
Note payable	80,000

The mortgage is secured by the land and building, and the note payable is secured by the equipment. Quincy expects that the expenses of administering the liquidation will total $40,000. How much should Quincy expect to pay on the accounts payable?

A. $240,000.

B. $128,000.

C. $120,000.

D. $96,000.

E. $146,000.