Mooncorp Insurance has quoted you an annual premium to insure your car of $2400. You are offered a 15% discount if you pay the lump sum immediately. You can also pay the account by making 12 equal end of month payments of $200. The effective annual opportunity cost of paying monthly as a percentage to two decimal places is? (Accurate to one basis point.)

a:31.12%

b:35.97%

c:0% because this is a discount and you are not being charged interest

d:cannot be calculated

e:15%

f:2.59%