Ring Stores, Inc., borrows $6,000 each from EZ Loan Corporation, First National Bank, and Great Products Corporation. Red Ring uses its "present inventory and any thereafter acquired" to secure the loans from EZ Loan and First National. EZ Loan perfects its interest on April 1, followed by First National on April 5. Red Ring buys new inventory on April 10 from Great Products and signs a security agreement, giving Great Products a purchase-money security interest in the new inventory. On the same day, Great Products perfects its interest and notifies EZ Loan and First National. Red Ring takes possession of the new inventory on April 15. On April 20, Red Ring defaults on all of the loans. Whose security interest has priority?

After graduating from college, you work briefly as a salesperson before filing for bankruptcy. As part of your petition, you reveal that your only debts are student loans, taxes from the last year, a $742 Visa credit card bill, and a claim against you based on your misuse of customers funds during your employment. Are these debts dischargeable in bankruptcy? Explain your answer