Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, an auction house sold a sculpture at auction for a price of $10,291,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,337,500. What was his annual rate of return on this sculpture? (A negatlve onswer should be Indleated by a minus sign. Do not round Intermedlete calculetlons and enter your answer os a percent rounded to 2 declmal pleces, e.g., 32.16.)