Bank of America offers one-year loans with a 10% stated or base rate, charges a 0.15% loan origination fee, imposes a 15% compensating balance requirement, and must pay a 3% reserve requirement to the Federal Reserve. The loans typically are repaid at maturity. If the risk premium for a given customer is 2%, what is the contractually promised gross return on the loan per dollar lent? 14.22% 14.74% 0 32.75% 31.60% 12.00%