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 $10,318,500. Unfortunately for the previous owner, he had purchased it in 2012 at a $12,370,500. What was his annual rate of return on this sculpture? price of Multiple Choice -3.77% -5.01% -4.43% 4.64% -3.99%