22. The Southside City has $95 million of debt recorded in its Schedule of Changes in Long-tem Obligations, made up of $60 million of general obligation debt, $2 million of compensated absences payable, $8 million claims and judgments, and $25 million of obligations under capital leases. The State limits the amount of general obligation debt that can be issued by a City to 20% of the assessed value of its taxable property. The assessed value of property in Southside City is $500 million. The legal debt margin for Southside City is a) S 5 million. b) $40 million. c) $ 60 million. d) $100 million