Ram holds a $200,000 note receivable from Pat. It has been learned that Pat filed for Chapter

Question:

Ram holds a $200,000 note receivable from Pat. It has been learned that Pat filed for Chapter 7 bankruptcy and that the expected recovery of non-secured claims is 35¢ on the dollar. Inventory items with an estimated recoverable value of $50,000 secure Pat’s note payable to Ram.
REQUIRED
Determine Ram’s expected recovery on the note.