An early$-$stage company issued a convertible promissory note with a discount of $5\%$ at the time of conversion. The convertible promissory note has accrued interest at $11\%$ per annum. If the note converts into equity in $3$ years, what is the annualized return of the note? The correct answer is $12\mathrm{.}9\%,$ please explain the steps fully.