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Octopus National Bank loaned $200,000 to Big Department Store and took a security interest in its inventory now owned or after-acquired, which it perfected by
Octopus National Bank loaned $200,000 to Big Department Store and took a security interest in its inventory "now owned or after-acquired," which it perfected by filing a financing statement on July 5. Antitrust National Bank loaned $100,000 to Total Store, Inc., and took a security interest in its inventory "now owned or after-acquired," which it perfected by filing a financing statement on September 25. Without the consent of either creditor, the two retailers merged the following year, when the inventories of both were worth $300,000. The new entity was named Total Department Store. Which bank has priority in this situation
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