Although appealing to more refined tastes art as a collectible has not always performed so profitably. During 2010 Deutscher-Menzies sold Arkie under the shower, a paining by renowned Australian painter Brett Whitely, at auction for a price of $1,100,000. Unfortunately, the previous owner, he had purchased it three years earlier at a price of $1,670,000. What was his annual rate of return on this painting?