Reference no: EM132933578

The Creditors of the Rogerod Corporation agreed to a LIQUIDATION based on the statement of affairs, suggested that unsecured creditors, without priority would receive approximately P 0.60 on the peso. The unsecured creditors are interested in determining whether the preliminary estimate still seems appropriate. The trustee was originally assigned non cash assets of Php. 1,480,00 and creditors claims as follows: Fully Secured, P670000; partially secured, P400000; unsecured with priority, P200000, and unsecured without priority, P320000. Assets with a book value of P45000 and unsecured liabilities (wo priority) of P35000 were subsequently discovered. Assets with a total book value of P740000 were sold for P715000 net. Fully secured liabilities of 410,000 and partially secured liabilities of P280000 were paid. Remaining liquidation expenses were estimated to be P30000

Assume the remaining non cash assets have an estimated realizable value as follows:

Assets traceable to fully secured creditors- P240,000

Assets traceable to partially secured creditors-P110,000

Remaining Assets-P382000

Problem 1: Determine the revised estimate of the dividend received by unsecured creditors without priority (in percent form)