Which of the following claims is first to be paid in a Chapter 7 liquidation?

Name: Which of the following claims is first to be paid in a Chapter 7 liquidation?
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Expenses incurred by those administering the bankruptcy process, such as lawyers and trustees, are considered administrative expenses and have priority over other claims in a Chapter 7 liquidation. Secured creditors and the federal government for taxes due are paid after administrative expenses are satisfied.

Which of the Following Claims Is First to Be Paid