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 $10,316,500. Unfortunately for the previous owner, he had purchased it in 2012 at a price of $12,385,500. What was his annual rate of return on this sculpture? Multiple Choice -3.80% 4.68% -5.05% -4.47% -4.02%