24 Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2016, a sculpture was sold at auction for a price of $10,317,500. Unfortunately for the previous owner, he had purchased it in 2012 at a price of $12,377,500. What was his annual rate of return on this sculpture? X 01:35:07 Multiple Choice -4.00% -4.45% -3.78% O 4.66% O -5.03%