Voluntary settlements$-$Payments Jacobi Supply Company recently ran into certain financial difficulties that

have resulted in the initiation of voluntary settlement procedures. The firm currently has $$180,000$ in outstanding

debts and approximately $$90,000$ in liquidatable short$-$term assets. Indicate, for each of the following plans, whether

the plan is an extension, a composition, or a combination of the two. Also indicate the cash payments and timing of

the payments required of the firm under each plan.

a$.$ Each creditor will be paid $52$ cents on the dollar immediately, and the debts will be considered fully satisfied.

b$.$ Each creditor will be paid $87$ cents on the dollar in two quarterly installments of $60$ cents and $27$ cents. The first

installment is to be paid in $90$ days.

c$.$ Each creditor will be paid the full amount of its claims in three installments of $42$ cents, $29$ cents, and $29$ cents on

the dollar. The installments will be made in $60-$day intervals, beginning in $60$ days.

d$.$ A group of creditors with claims of $$52,000$ will be immediately paid in full; the rest will be paid $91$ cents on

the dollar, payable in $90$ days.

a$.$ Each creditor will be paid $52$ cents on the dollar immediately, and the debts will be considered fully satisfied.

The settlement is

$.$ Creditors will be paid $

now. $($Select from the drop$-$down menus.$)$