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Antelum Company owes $82,500 on a note payable that is currently due. The note is held by a local bank and is secured by a
Antelum Company owes $82,500 on a note payable that is currently due. The note is held by a local bank and is secured by a mortgage lien attached to three acres of land worth $49,200. The land originally cost Antelum $32,200 when acquired several years ago. The only other account balances for this company are Investments of $20,700 (but worth $25,700), Accounts Payable of $21,400, Common Stock of $40,800, and a deficit of $89,200. Antelum Is Insolvent and attempting to arrange a bankruptcy reorganization so the business can continue to operate and the employees can retain their jobs. The reorganization value of the company is $82,000. Required A Required B Required c Assume that Anteium is liquidated. The land and investments are sold for $51,200 and $25,700, respectively. Administrative expenses amount to $11,200. How much will the various parties collect? (Do not round intermediate calculations. Round the final answers to nearest dollar amount.) S Bank (Note payable) Accounts payable 8,940 8.940 $
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