The Walston Company is to be liquidated and has the following liabilities:

Income taxes $ 9,400 Notes payable (secured by land) 144,000 Accounts payable 97,000 Salaries payable (evenly divided between two employees) 18,000 Bonds payable 82,000 Administrative expenses for liquidation 32,000

The company has the following assets:

Book Value Fair Value Current assets $ 92,000 $ 47,000 Land 112,000 102,000 Buildings and equipment 112,000 145,000

How much money will the holders of the notes payable collect following liquidation?