On May 1, Dart, Inc., a closely held corporation, was petitioned involuntarily into bankruptcy under the liquidation provisions of Chapter 7 of the Federal Bankruptcy Code. Dart contested the petition. Dart has not been paying its business debts as they become due, has defaulted on its mortgage loan payments, and owes back taxes to the IRS. The total cash value of Dart's bankruptcy estate after the sale of all assets and payment of administration expenses is $100,000. A listing of Dart's creditors is presented in the next column. Fracon Bank is owed $77,150 principal and accrued interest on a mortgage loan secured by Dart's real property. The property was valued at and sold, in bankruptcy, for $71,000. The IRS has a $12,000 recorded judgment for unpaid corporate income tax. JOG Office Supplies has an unsecured claim of $5,750 that was timely filed. Nanstar Electric Co. has an unsecured claim of $1,200 that was not timely filed. Decoy Publications has a claim of $15,000, of which $2,000 is secured by Dart's inventory that was valued and sold, in bankruptcy, for $2,000. The claim was timely filed. Which of the following statements accurately describes the result of Dart's opposing the petition? Dart will lose because of its debt to the IRS. Dart will lose because it is not paying its debts as they become due. Dart will win because there are not more than 12 creditors. Dart will win because the petition should have been filed under Chapter 11