Over the last fifty years in Italy, the average annual return on small stocks, large stocks and corporate bonds have been 12.50%, 9.25% and 8.50% respectively. The short-term government securities in this period have provided a return of 2.75%. The risk premium for Italian small stocks for the last fifty years is:

A.)15.25%

B.) 12.50%

C.) 10.50%

D.)9.75%

E.)6.50%