Fact Pattern 32-1General Leasing Company (GLC) Buys Equipment for Use

Multiple Choice

Fact Pattern 32-1General Leasing Company (GLC) buys equipment for use as inventory, borrowing $1 million from Helpful Finance Corporation for a security interest in the equipment. The next day, GLC borrows $500,000 from Interstate Bank, also for a security interest in the equipment. GLC defaults on the loans.
-Refer to Fact Pattern 32-1.Suppose that Helpful perfects its security interest when GLC takes possession of the equipment.In that circumstance,the party with priority to the collateral on GLC's default would be 

A)  ​GLC. 
B)  ​Helpful and Interstate proportionately. 
C)  ​Helpful only. 
D)  ​Interstate only.