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Olds Company declares Chapter 7 bankruptcy. The following are the asset and liability book values at...

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Accounting

Olds Company declares Chapter 7 bankruptcy. The following arethe asset and liability book values at that time. Administrativeexpenses are estimated to be $20,000:

Cash$32,000
Accounts receivable68,000(worth $36,000)
Inventory78,000(worth $64,000)
Land (secures note A)208,000(worth $168,000)
Building (secures bonds)408,000(worth $336,000)
Equipment128,000(worth unknown)
Accounts payable188,000
Taxes payable to government28,000
Note payable A186,000
Note payable B258,000
Bonds payable308,000

The holders of note payable B want to collect at least$129,000.

To achieve this goal, how much does the company have to receivein the liquidation of its equipment?

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