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Inho Corporation has fully secured liabilities of $300,000 and unsecured liabilities of $1,500,000, of which $250,000 have legal priority. Inho's assets are expected to realize
Inho Corporation has fully secured liabilities of $300,000 and unsecured liabilities of $1,500,000, of which $250,000 have legal priority. Inho's assets are expected to realize $1,000,000; of these, $420,000 is pledged to the fully-secured creditors.
Inho's net free assets amount to
A $1,000,000.
B $ 700,000.
C $ 580,000.
D $ 450,000.
The estimated deficiency to Inho's unsecured creditors is
A $800,000.
B$700,000.
C$500,000.
D $450,000.
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