Copper Homes is to be liquidated. All creditors, both secured and unsecured, are owed P2,000,000. Administrative costs

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Copper Homes is to be liquidated. All creditors, both secured and unsecured, are owed P2,000,000. Administrative costs of liquidation and wages payments are expected to be P500,000. A sale of assets is expected to bring P3,000,000 after all costs and taxes. What is the liquidation value of Copper Homes?