Bank loaned $$200,000$ to a business owner for use in the business, taking a security interest in owner's personal art collection $($worth more than the loan amount$).$ Owner defaulted on the loan $($making no payments$)$ and Bank repossessed the artwork, selling it at a commercially reasonable public sale after giving proper notice to debtor. The sale yielded $$250,000($more than the debt owed$).$ Which statement below is most correct?

The bank, not the debtor is entitled to keep the extra $$50,000$ from the sale.

Debtor and Bank will split the $$50,000$ windfall profit equally.

Bank must pay debtor the $$50,000$ minus Bank's reasonable costs for holding the sale.

Bank is not allowed to sell the collateral because these are personal possessions, not business inventory or equipment. The security interest should have been attached to business related items, not household possessions.