following:

The annualized yield on a risk$-$free $13-$week Treasury bill is $9$ percent.

A $3$ percent credit risk premium is needed to compensate investors for credit risk.

A $0\mathrm{.}4$ percent liquidity premium is needed to compensate investors due to the low liquidity of the Treasury bills.

A $0\mathrm{.}2$ percent tax adjustment is needed to compensate investors for a difference in tax status.

What is the appropriate yield to be offered on the commercial paper?

$6\mathrm{.}60\%$

$11\mathrm{.}60\%$

$12\mathrm{.}60\%$

$18\mathrm{.}30\%$