A company owes a bank loan of $250,000. The loan is secured by the company's inventory, which has a book value of $200,000 and an estimated realizable value of $150,000. On a statement of affairs, the liability to the bank would be classified as:

Select one:

a. $250,000 fully secured

b. $150,000 secured and $100,000 unsecured

c. $200,000 secured and $50,000 unsecured with priority

d. $50,000 secured and $200,000 unsecured

d