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Mondesto Company has the following debts: $ 248,000 128,000 Unsecured creditors Liabilities with priority Secured liabilities: Debt 1, $246,000; value of pledged asset Debt 2,
Mondesto Company has the following debts: $ 248,000 128,000 Unsecured creditors Liabilities with priority Secured liabilities: Debt 1, $246,000; value of pledged asset Debt 2, $206,000; value of pledged asset Debt 3, $138,000; value of pledged asset 198,000 118,000 176,000 The company also has a number of other assets that are not pledged in any way. The creditors holding Debt 2 want to receive at least $170,800. For how much do the free assets have to be sold so that the creditors associated with Debt 2 will receive exactly $170,800? Selling value of free assets
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