A Company That Was to Be Liquidated Had the Following

A company that was to be liquidated had the following liabilities: $$\begin{array} { | l | r | c | } \hline \text { Income Taxes } & \$ 10,000 & \\\hline \text { Notes Payable secured by land } & 100,000 & \\\hline \text { Accounts Payable } & 50,000 & \\\hline \text { Salaries Payable } ( \$ 12,000 \text { from Employee \#1 } & & \\\hline \text { and } \$ 2,000 \text { for Employee } \# 2 ) & 14,000 & \\\hline \text { Administrative expenses for liquidation } & 20,000 & \\\hline & & \\\hline \text { The company had the following assets: } & \text { Book Value } & \text { Fair Value } \\\hline \text { Current Assets } & \$ 100,000 & 95,000 \\\hline \text { Land } & 50,000 & 75,000 \\\hline \text { Building } & 150,000 & 200,000 \\\hline\end{array}$$
-Total unsecured nonpriority liabilities are calculated to be what amount?

A) $44,000.
B) $51,050.
C) $76,050.
D) $85,000.
E) $194,000. Excess of salaries $1,050 + notes pay in excess of security $25,000+ accounts pay $50,000