$100,000 loan is made monthly interest-only repayments for 12 years, with the first repayment occurring one month from today. Then the level annual repayments of $9,456 are made for as long as needed to pay off the remaining balance of the loan, where the first annual repayment is made at the end of year 13. The Annual repayment is made at the end of year 13. The annual effective interest rate is 9.2%. Calculate the total number of repayments to pay off the loan.

A. 154

B. 185

C. 147