Although appealing to more refined tastes, art as a collectible has not always performed

so profitably. During $2003,$ Sotheby's sold the Edgar Degas bronze sculpture Petite

Danseuse de Quatorze Ans at auction for a price of $$10,341,500.$ Unfortunately for the

previous owner, he had purchased it in $1999$ at a price of $$12,437,500.$ What was his

annual rate of return on this sculpture? $($A negative answer should be indicated by a

minus sign. Do not round intermediate calculations and enter your answer as a

percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$