Mondesto Company has the following debts: Unsecured creditors $ 235,000 Liabilities with priority 115,000 Secured...
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Mondesto Company has the following debts: Unsecured creditors $ 235,000 Liabilities with priority 115,000 Secured liabilities: Debt 1, $220,000; value of pledged asset 185,000 Debt 2, $181,000; value of pledged asset 105,000 Debt 3, $125,000; value of pledged asset 150,000 The company also has a number of other assets that are not pledged in any way. The creditors holding Debt 2 want to receive at least $154,400. For how much do these free assets have to be sold so that the creditors associated with Debt 2 receive exactly $154,400?
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