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Chesterfield Company holds cash of $67,000, inventory worth $124,000, and a building worth $147,000. Unfortunately, the company also has accounts payable of $197,000, a note
Chesterfield Company holds cash of $67,000, inventory worth $124,000, and a building worth $147,000. Unfortunately, the company also has accounts payable of $197,000, a note payable of $97,000 (secured by the inventory), liabilities with priority of $47,200, and a bond payable of $184,000 (secured by the building).
In a Chapter 7 bankruptcy, how much money will the holder of the bond expect to receive?
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