A liquidator was appointed after Stranded Asset Pty Ltd was declared insolvent on 1 July 2021. The company's assets realised $14,250,000. This came from the sale of the secured land and buildings for $7,500,000 and other assets which were sold for $6,750,000.

The creditors totalled $16,350,000, and were made up of the following amounts:

Secured creditor $9,000,000

receiver's costs when realising secured asset $150,000

liquidator's expenses $600,000

unsecured trade payables $2,400,000

tax payable $1,050,000

local government rates $300,000

staff wages payable $900,000

executive directors' wages payable (5 directors) $450,000

staff leave entitlements $150,000

executive directors' leave entitlements (5 directors) $150,000

unsecured bank overdraft $750,000

dividends payable $450,000

REQUIRED

You are required to rank the above creditors and then to calculate how much each creditor would be paid.