Chesterfield holds cash of $69,000, inventory worth $128,000, and a building worth $149,000. unfortunately, the company also has accounts payable of $199,000, a notes payable of $99,000 (secured by inventory), liabilities with priority of $26,600, and a bond payable of $188,000 (secured by the building).

In Chapter 7 bankruptcy, how much money should the holder of the bond expect to receive?

Chesterfield Company holds cash of $69,000, inventory worth $128,000, and a building worth $149,000. Unfortunately, the company also has accounts payable of $199,000, a note payable of $99,000 (secured by the inventory), liabilities with priority of $26,600, and a bond payable of $188,000 (secured by the building). In a Chapter 7 bankruptcy, how much money should the holder of the bond expect to receive? Answer is complete but not entirely correct