Suppose Alex (a U.S. investor) purchases a 30-day Eurocommercial paper with a par value of 1,000,000 Mexican pesos for a price of 995,000 Mexican pesos. If the peso is worth $0.046, the spot rate is anticipated to be $0.050140 per peso at the end of maturity, and Alex holds the Eurocommercial paper until then, assuming a 360 day year, the effective yield is:

14.64%

14.95%

15.57%

17.13%