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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

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 10.45 million. unfortunately for the previous owner, he had purchased it in 1999 at the price of 12.89 million. what was his annual rate of return on this sculpture. What was his annual rate of return on this sculpture?

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