Explain lena borrows from mac and nicol security interest

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Reference no: EM1371141

Lena borrows from Mac and Nicol, using the same collateral for both loans. Only Nicol has a perfected security interest. Lena defaults on both loans. The party with first rights to the collateral is
a. Lena.

b. Mac and Nicol, in proportion to Lena's debt to each.

c. Mac only.

d. Nicol only.

Reference no: EM1371141

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