. Kent, Inc. has forced into bankruptcy and has begun to liquidate. Unsecured claims will be paid at the rate of 40 cents on the peso. Apex Co. holds a non- interest bearing note receivable from Kent in the amount of P100,000, collateralized by machinery with a liquidation value of P25,000. The total amount realized by Apex in this note receivable is: a. P25,000 c. P55,000 b. P40,000 d. P65,000