Pajama Baking Company is a public company and has $50 million par value of secured debt in the form of a bank loan. They also have $100 million par value in unsecured debt in the form of an unsecured bond and an equity market cap of $25 million. They have no preferred stock. If Pajama exits the bankruptcy process with a total enterprise value of $90 million, what is the recovery rate of the unsecured bond?