Slush Corporation has two bonds outstanding, each with a face value of $3.5 million. Bond...
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Slush Corporation has two bonds outstanding, each with a face value of $3.5 million. Bond A is secured on the company's head office building; bond B is unsecured. Slush has suffered a severe downturn in demand. its head office building is worth $1.15 million, but its remaining assets are now worth only $2 million. If the company defaults, what payoff can the holders of bond B expect? Note: Enter your answer in dollars, not in millions. Round your answer to the nearest whole dollar amount
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