If investors are not indifferent to whether they hold long-term or short-term securities, and need a liquidity premium to hold longer term securities, an investor who needs a liquidity premium of 0.25% per annum will expect to receive on a two-year investment, given the following data: (0i1) 8.46% per annum (E1i1) 8.55% per annum Select one: a. 8.51% per annum b. 8.63% per annum c. 8.80% per annum d. 8.88% per annum