Milonas Mining has $30 million in land value and $15 in mortgage bonds issued on the property. Given that the indenture does not limit the amount of additional bonds that can be issued, the company issues an additional $10 million in mortgage bonds against the property. If Milonas is forced to liquidate its property for $20 million, and the company has no other assets, how much will the original bondholders receive?

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The Answer of Milonas Mining has $30 million in land value and $15 in mortgage bonds issued on the property. Given that the indenture does not limit the amount of additional bonds that can be issued, the company issues an additional $10 million in mortgage bonds against the property. If Milonas is forced to liquidate its property for $20 million, and the company has no other assets, how much will the original bondholders receive?

Milonas Mining Has $30 Million in Land Value and $15