In what order are the following obligation paid after secured creditor rightfully sells the debtor's collateral after repossession?
I. Debt owed to any junior security holder.
II. Secured party's reasonable sale expenses.
III. Debt owned to the secured party.
a. I, II, III.
b. II, I, III.
c. II, III, I.
d. III, II, I.
Answer: C
Tax
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