Business Law scenario regarding security interest

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Steve owns a car. He decides that he needs a loan
in order to improve his house, so he goes to Liv. He agrees to give Liv a
security interest in the car in exchange for $4,000. Two weeks later he
decides that he needs more money.

He goes to Dane. He gives Dane
a security interest in the car in exchange for $10,000. Dane files a
financing statement to perfect the interest. A week after that Liv does
the same. Eventually, Steve defaults in his payments. The car is
reposed, and it is sold for $3,000. How much money will Dane receive?
How much money will Liv receive?

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