Assuming a Purchase-Money Security Interest Is Not Involved,which of the Following

Assuming a purchase-money security interest is not involved,which of the following is true regarding priority when there are two secured parties and neither has perfected?

A) The party who attached its interest first will prevail.
B) The party who loaned money first will prevail.
C) The parties will divide the proceeds from the sale of the collateral evenly between them.
D) The party who loaned the most money on the collateral has priority.
E) The party who first notified the debtor of a missed payment has priority.