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Chesterfield Company holds cash of $54,000, inventory worth $98,000, and a building worth $134,000. Unfortunately, the company also has accounts payable of $184,000, a note
Chesterfield Company holds cash of $54,000, inventory worth $98,000, and a building worth $134,000. Unfortunately, the company also has accounts payable of $184,000, a note payable of $84,000 (secured by the inventory), liabilities with priority of $16,000, and a bond payable of $158,000 (secured by the building). In a Chapter 7 bankruptcy,
how much money should the holder of the bond expect to receive?
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