Roth and Dixon both claim a security interest in the same collateral. Roth's security interest attached on January 1, Year 1, and was perfected by filing on March 1, Year 1. Dixon's security interest attached on February 1, Year 1, and was perfected on April 1, Year 1, by taking possession of the collateral. Which of the following statements is correct?
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a. | Dixon's security interest has priority because Dixon is in possession of the collateral. | |
b. | Dixon's security interest has priority because Dixon's interest attached before Roth's interest was perfected. | |
c. | Roth's security interest has priority because Roth perfected before Dixon perfected. | |
d. | Roth's security interest has priority because Roth's security interest attached before Dixon's security interest attached. |
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