Question: 2. In the following example, which party pays the boot and how much is the boot? First Party Second Party Granters Valuation $85,000 $65,000 Less
2. In the following example, which party pays the boot and how much is the boot?
| First Party | Second Party | |
| Granters Valuation | $85,000 | $65,000 |
| Less Encumbrances | $15,000 | $0 |
Explain why
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