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24-1 - Southwestern Wear Inc. has the following balance sheet: Currents $1,875,000 Fixed assets 1,875,000 Total assets $3,750,000 Accounts payable $375,000 Notes Payble 750,000 Subordinated

24-1 - Southwestern Wear Inc. has the following balance sheet:

Currents $1,875,000

Fixed assets 1,875,000

Total assets $3,750,000

Accounts payable $375,000

Notes Payble 750,000

Subordinated debentures 750,000

Total debt $1,875,000

Common equity $1,875,000

Total liabilities and equity $3,750,000

The trustee's cost total $281,250, and the firm has no accrued taxes or wages. The debentures are subordinated only to the notes payable. If the firm goes bankrupt and liquidates, how much will each class of investors receive if a total of $2.5 million is received from sale of the assets?

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