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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 owed P2 million. 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?

Reference no: EM133129569

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