Wright Company recently petitioned for bankruptcy and is now in the process of preparing a statement of affairs. The carrying values and estimated fair values of the assets of Wright Company are as follows:

Carrying Value Fair Value

Cash $10,000 $10,000

Accounts Receivable 60,000 20,000

Inventory 70,000 40,000

Land 90,000 75,000

Building (net) 200,000 150,000

Equipment (net) 80,000 25,000

Total $510,000 $320,000 Debts of Wright are as follows:

Accounts Payable $40,000

Wages Payable (all have priority) 6,000

Taxes Payable 12,000

Notes Payable (secured by receivables and inventory) 90,000

Interest on Notes Payable 5,000

Bonds Payable (secured by land and buildings) 200,000

Interest on Bonds Payable 8,000

Total $361,000

1. Based on the preceding information, what is the total amount of unsecured claims? A. $52,000 B. $71,000 C. $75,000 D. $95,000

2. Based on the preceding information, what estimated amount will be available for general unsecured creditors upon liquidation? A. $34,000 B. $52,000 C. $56,000 D. $75,000

3. Based on the preceding information, what is the estimated dividend percentage? A. 45 percent B. 55 percent C. 61 percent D. 69 percent