Your child's orthodontist offers you two alternative payment plans. The first plan requires a $4,100 immediate up-front payment. The second plan requires you to make monthly payments of $135.23, payable at the end of each month for 3 years. What nominal annual interest rate is built into the monthly payment plan?

a. 12.22%

b. 9.11%

c. 5.89%

d. 20.07%

e. 11.51%