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WHAT AMOUNT WILL THE BANK RECEIVE IF THE UNSECURED CREDITORS RECEIVED 80% OF THEIR CLAIMS Karla Company owes P15,000,000 on the mortgage of its building

WHAT AMOUNT WILL THE BANK RECEIVE IF THE UNSECURED CREDITORS RECEIVED 80% OF THEIR CLAIMS

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Karla Company owes P15,000,000 on the mortgage of its building to Sagada Rural Bank. The building has a net book value of P20,000,000 and a fair value of P18,000,000. When Karla Company filed for liquidation, it owed interest of P90,000; when the building is sold for P18,000,000, the interest due on the mortgage is P200,000. What amount will the bank receive if the unsecured creditors received 80% of their claims

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