What would be the priority of the claims as to the distribution of assets in a liquidation under Chapter 7 of the Bankruptcy Act? 1 is the highest claim, 5 is the lowest.

(1) Trustees' costs to administer and operate the firm.

(2) Common stockholders.

(3) General, or unsecured, creditors.

(4) Secured creditors, who have a claim to the proceeds from the sale of specific property pledged to secure a loan.

(5) Taxes due to federal and state governments.