Max wire length for ultrasonic range finder

Two things I know of could be a problem.

The wire resistance and noise.

You can calculate the voltage drop by knowing you wire resistance per ft

According to wikipedia this is 0.188 ohm/m for a standard cat 5 cable. You have ~12m which gives 2.2ohm.
So it's like having a resistor with 2.2 ohm instead of your cable.

As for noise you could look into differential signaling.

But I doubt that will be necessary.