Explanation:

Alright, let’s crack the code together:

- Starting with ‘LOAN’ ? ‘15122613’. Let’s see what’s happening here.

- Look at each letter:

L (12th letter), O (15th), A (1st), N (14th).

- Now, "15122613": Let's split it up: 15 12 26 13.

- Nope, doesn't map directly to L=12, O=15, etc.

Let’s try something different:

- L = 12 ? 12

- O = 15 ? 15

- A = 1 ? 1

- N = 14 ? 14

But in 'LOAN', the code is '15122613'. If we split it into 15 12 26 13:

- ‘15’ could be O, ‘12’ is L, ‘26’ is Z (but no Z in ‘LOAN’), ‘13’ is M (but no M). That's not matching.

Let’s try matching each letter with a pair of digits:

- L (12), O (15), A (1, so maybe 01), N (14).

- But then, where does 22 or 26 come from? In 'LOAN', we see '15', '12', '26', '13'.

Let’s check if each letter’s position plus something matches:

- L (12) + 3 = 15,

- O (15) - 3 = 12,

- A (1) + 25 = 26,

- N (14) - 1 = 13.

Now, let’s apply that pattern to ‘DEUCE’:

- D (4). Is it 4 + 19 = 23? So maybe D = 23

- E (5), 5 + 18 = 23

- U (21), 21 + 1 = 22

- C (3), 3 + 19 = 22

- E (5), 5 + 17 = 22

But looking at the options, the first few digits repeat and make sense if D and E both become 23. Let's see which code matches this structure:

- Option 1: 232262422

- Option 2: 232292322

- Option 3: 202272422

- Option 4: 232162421

Here’s what we see:

- There’s a repeating 23 for D and E, which looks right.

- The answer should then be option 1: 232262422, which matches the recurring structure from the way ‘LOAN’ was coded.

So, the answer is:

Option 1: 232262422