GMAT Sentence Correction (SC) | Re: Declining values for farm equipment and land, the collateral

Declining values for farm equipment and land, the collateral against which farmers borrow to get through
the harvest season, is going to force many lenders to tighten or deny credit this spring.


(D) which farmers use as collateral to borrow against to get through the harvest season, are
(E) the collateral against which farmers borrow to get through the harvest season, are

Declining values so it should be "are"

Ron explanation:-

one real problem with choice (d) is the modifier “to
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