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 $10,302,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,375,500. What was his annual rate of return on this sculpture? Multiple Choice -4.03% 4.69% -3.81% -4.48% -5.06%