Suppose a friend of yours is insolvent and asks for your assistance in choosing between filing for a straight bankruptcy under Chapter 7 and filing under Chapter 13. Your friend has multiple debts including a mortgage to Citi Bank, student loan debt, unpaid income taxes, child support payments, a loan from Ally Financial for her car, a $10,000 loan she incurred for a bike that she bought last month, and credit card debt. Based on the scenario above, answer each of the following questions as completely as possible: 1. Describe to your friend the major differences between the Chapter 7 and Chapter 11 proceedings. 2. Explain why Chapter 11 is not applicable in this case. 3. If your friend does file bankruptcy, what property would be exempt? 4. Which of your friend's debts would not be dischargeable in bankruptcy and why? 5.Assume your friend decides to file bankruptcy, but does not have enough assets to satisfy all of her debts. Which creditors would have priority