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How much can rocket expect to recover from its receivables

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Reference no: EM132975889

Question - ROCKET owns 80% of GROOT. During the year, GROOT filed for bankruptcy and is about to enter into liquidation. ROCKET has an outstanding unsecured receivables of P2,000,000 from GROOT together with an investment in subsidiary of P10,000,000. The statement of GROOT shows a 100% recovery for secured creditors and a 20% recovery for unsecured creditors.

Required -

1. How much can ROCKET expect to recover from its receivables?

2. How much can ROCKET expect to recover from its investment in subsidiary?

Reference no: EM132975889

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