Question - Ataway Company has severe financial difficulties and is considering filing a bankruptcy petition. At this time, it has the following assets (stated at net realizable value) and liabilities:
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Assets (pledged against debts of $74,000)
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$124,000
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Assets (pledged against debts of $138,000)
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54,000
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Other assets
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84,000
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Liabilities with priority
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76,400
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Other unsecured creditors
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204,000
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In a liquidation, how much money would be paid on the partially secured debt?