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Assume the following reference credit portfolio: Credit 1: $100,000 notional, post-default value $37057 Credit 2: $200,000 notional, post-default value $54278 Credit 3: $200,000 notional, post-default

Assume the following reference credit portfolio:

Credit 1: $100,000 notional, post-default value $37057

Credit 2: $200,000 notional, post-default value $54278

Credit 3: $200,000 notional, post-default value $71446

Given a $500,000 structure, if credits 3 and 2 default in a second-to-default basket (in that order), how much will an investor receive? (Keep your outcome in integers and do not input $ in the solution box. )

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