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 a price of $10,311,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,377,500. What was his annual rate of return on this sculpture