Suppose Sharon (a U.S. investor) purchases a 45-day Eurocommercial paper with a par value of 10,000,000 Indian rupees for a price of 9,960,000 Indian rupees. If the rupee is worth $0.015, the spot rate is anticipated to be $0.016350 per rupee at the end of maturity, and Sharon holds the Eurocommercial paper until then, assuming a 360 day year, the effective yield is: 11.38% 12.38% 12.50% 13.75%