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4. Single Payment (8 Points) In 1990 Mrs. John Hay Whitney sold her painting by Renoir, Au Moulin de la Calette, depicting an open-air Parisian

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4. Single Payment (8 Points) In 1990 Mrs. John Hay Whitney sold her painting by Renoir, Au Moulin de la Calette, depicting an open-air Parisian dance hall, for 571 million. The buyer also had to pay the auction house commission of 10% of total of 578.1 million The Whitney family had purchased the painting in 1929 for $165,000. (1) What rate of return did Mrs. Whitney receive on the in the investment per year

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