Mondesto Company has the following:
|
Unsecured creditors |
$230,000 |
|
Liabilities with priority |
110,000 |
|
Secured liabilities: |
|
|
Debt 1, $210,000; value of pledged asset |
180,000 |
|
Debt 2, $170,000; value of pledged asset |
100,000 |
|
Debt 3, $120,000; value of pledged asset |
140,000 |
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 $142,000. For how much do these free assets have to be sold so that the creditors associated with debt 2 would receive exactly $142,000?