Calculating Rates of Return Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2008 , Sotheby's sold the Edgar Degas bronze sculpture Petite Danseuse de Quatorze Ans at auction for a price of $10,560,500. Unfortunately for the previous owner, he purchased it in 2004 at a price of $12,477,500. What was his annual rate of return on this painting