Tundra Tots is being liquidated under Chapter 7. Its current balance sheet is shown below. Fixed assets are sold for $25,000,000 and current assets are sold for $38,000,000. All fixed assets are pledged as collateral for all mortgage bonds. Subordinated debentures are subordinate only to notes payable. Trustee costs are $500,000. No employee is owed over $2000. How much wil mortgage bondholders received?
|Sale of current assets||38,000,000|
|Sale of fixed assets||25,000,000|
|Current Assets||75,000,000||Accounts payable||15,000,000|
|Net fixed assets||50,000,000||Accrued taxes||10,000|
|Total current liabilities||19,360,000|
|Total assets||125,000,000||Total claims||125,000,000|