Although appealing to more refined tastes, art as collectible has not always performed so profitably. During $2016,$ a sculpture was sold at auction for a price of $$10,310,500.$ Unfortunately for the previous owner, he had purchased it in $2012$ at a price of $$12,385,500.$ What was his annual rate of return on this sculpture?

Multiple Choice

$4\mathrm{.}69\%$

$-4\mathrm{.}03\%$

$-5\mathrm{.}06\%$

$-3\mathrm{.}81\%$

$-4\mathrm{.}48\%$