You are the owner of a boutique that sells bathing suits and beach apparel, and you are many months behind on your loan payments to the bank (you owe a total of $100,000). The bank now wants you to hand over all of your remaining company funds to pay back the loan. However, it is mid-April, and the summer season is coming up. That is when you typically do 60% to 70% of your business for the year. If you pay the bank now, you will not have funds to pay the rent or your staff; so, to stay in business, you will need the bank to wait until after the summer season. If you end up needing to file for bankruptcy, which type would be most appropriate for this situation: Chapter 7, Chapter 11, or Chapter 13? Would your answer change if the summer season were over, but you were still unable to pay back the bank loan? Explain your answers.