Question
Assume a bronze sculpture sold in 2003 at auction for a price of $10,381,845. Unfortunately for the previous owner, he had purchased it in 1999
Assume a bronze sculpture sold in 2003 at auction for a price of $10,381,845. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,113,967.
Required:What was his annual rate of return on this sculpture?
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Analysis for Financial Management
Authors: Robert Higgins
11th edition
77861787, 978-0077861780
