Company X is in Chapter 11 bankruptcy and is restructuring its balance sheet. You have determined that Company Xs assets would produce after-tax EBIT (i.e., NOPAT) of $9,000 / year forever (i.e. no growth). In addition, depreciation is $1000 / year but there are no capital expenditure or changes in NWC. You estimate that Company X has a WACC of 10%. Company Xs current capital structure is as follows:

Which of the following would be a potential, i.e. not necessarily only, reorganization plan?

Assets	Claims
	Senior secured bonds = 30,000
	Senior unsecured debentures = 110,000
	Junior debentures = 10,000
As a going concern, these assets will produce NOPAT = $9,000 / year forever	Equity = -50,000