Please use the following information for Questions 12, 13, and 14 At the time it defaulted on its interest payments and filed for bankruptcy, the NoMoreFinalExams Corporation had the balance sheet shown below (in thousands of dollars). The court, after trying unsuccessfully to reorganize the firm, decided that the only recourse was liquidation under Chapter 7. Sale of the fixed assets, which were pledged as collateral to the mortgage bondholders, brought in $1,500,000, while the current assets were sold for another $1,100,000. Thus, the total proceeds from the liquidation sale were $2,600,000. The trustee's costs amounted to $90,000; and there were no unfunded pension plan liabilities. The subordinated debentures are subordinated to notes payable. $240 Accounts payable Notes payable Wages payable Taxes payable $1,400 Current Assets 160 120 200 720 Net fixed assets 2,600 Total current liabilities First-mortgage bonds Second-mortgage bonds Subordinated debentures 1,300 600 800 Common stock Total liabilities and equity 580 $4,000 Total assets $4,000 the mortgage bondholders (first- and second-mortgage bondholders receive after the liquidation, during the priority claim distrib a. $600,000 b. $1,000,000 c. $1,300,000 d. $1,500,000 e. $1,900,000 13. Regarding the general creditor distribution, what is the pro rata rate of distrib a. 19.08% b. 32.45% c. 43.13% d. 58.75% e. 63.84% 14. How much will the subordinated debenture holders receive? a. $103,500 b. $160,000 c. $172,000 d. $254,000 e. $345,000