Fanny and Her Husband Fred Own a Farm in Iowa

Fanny and her husband Fred own a farm in Iowa.Unfortunately,after earning a $50,000 income on the farming operation and $10,000 in non-related endeavors in 2002,Fanny and Fred accumulated $100,000 in farm-related debt.Their only other debt is a $10,000 on a truck purchased in 2001.Fanny and Fred want to file for a Chapter 12 plan.Which of the following statements is most accurate?

A) Fanny and Fred do not qualify for protection under a Chapter 12 plan.
B) Fanny and Fred will not be able to remain in possession of their farm under the plan.
C) A trustee will be allowed to sell unnecessary assets such as equipment.
D) A trustee will not be appointed under the plan.