Effective annual rate: Desire Cosmetics borrowed $$150,000$ from a bank for three years. If the quoted rate $($APR$)$ is $11\mathrm{.}75$ percent, and the compounding is daily, what is the effective annual rate $($EAR$)?($Round to one decimal place.$)$

$11\mathrm{.}8\%$

$14\mathrm{.}3\%$

$12\mathrm{.}5\%$

$11\mathrm{.}6\%$