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Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015, an auction house sold a

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015, an auction house sold a statute at auction for a price of $10,605,500. Unfortunately for the previous owner, he had purchased it in 2009 at a price of $12,643,500. What was his annual rate of return on this sculpture?

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