Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During $2016,$ a sculpture was sold at auction for a price of $$10,305,500.$ Unfortunately for the previous owner, he had purchased it in $2012$ at a price of $$12,383,500.$ What was his annual rate of return on this sculpture?

Multiple Choice

$-4\mathrm{.}49\%$

$-3\mathrm{.}82\%$

$-5\mathrm{.}07\%$

$-4\mathrm{.}04\%$

$4\mathrm{.}70\%$