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What is the liquidation value of magic Homes

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Question - Magic Homes is to be liquidated. All creditors, both secured and unsecured are owned Php 2million. Administrative costs of liquidation and wages payments are expected to be P500,000. A sale of assets is expected to bring P3 million after all costs and taxes. What is the liquidation value of magic Homes?

a. 3M

b. 500T

c. 1M

d. 2M

Reference no: EM133066904

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