Solved

In a Bankruptcy, There Was $150,000 Left After the Secured

Question 84

Multiple Choice

In a bankruptcy, there was $150,000 left after the secured creditors were paid. The landlord was owed $40,000 for 4 months of unpaid rent, trustee's and lawyer's fees were $30,000, 50 employees were each owed $5,000 in unpaid wages, and there was 2 years of unpaid municipal taxes owing totaling $20,000. How much money will the municipal government get for its unpaid taxes?


A) $20,000
B) $15,000
C) $10,000
D) $5,000
E) $0

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions