Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, a sculpture was sold at auction for a price of $10,315,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,386,500. What was his annual rate of return on this sculpture? rev: 09_17_2012 Multiple Choice -3.80% -5.05% -4.47% -4.02% 4.68%