General Leasing Co$.($GLC$)$ buys equipment for use as inventory, borrowing $$1$ million from Helpful Finance Corp. for a security interest in the equipment and taking possession the day of the loan. The next day, GLC borrows $$500,000$ from Interstate Bank, also for a security interest in the equipment. GLC defaults on the loans. Suppose that Helpful perfects its security interest when GLC takes possession of the equipment. In that circumstance, the party with priority to the collateral on GLC$$s default would be

Helpful and Interstate proportionately.

GLC$.$

Helpful only.

Interstate only.