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 $10,301,500. Unfortunately for the previous owner, he had purchased it in 2012 at a price of $12,383,500. What was his annual rate of return on this sculpture?

Group of answer choices

-3.82%

-4.50%

-4.05%

4.71%

-5.08%