Olds Company declares Chapter 7 bankruptcy. The following are the asset and liability book values… 1 answer below »

 
   

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Olds Company declares Chapter 7 bankruptcy. The following are the asset and liability book values at that time; administrative expenses are estimated to be $20,000:

The holders of note payable B want to collect at least $129,000. To achieve that goal, how much does the company have to receive in the liquidation of its equipment?