Suppose that the structure for an asset-backed security is as follows: Senior bond class: $200 million Subordinated bond class 1: $30 million Subordinated bond class 2: $20 million The subordinated bond class 2 is the first loss piece. If losses due to defaults over the life of the structure total $60 million, what is the amount of loss for the senior bond class?

A. 0 B. $10 million C. $20 million