Collecting baseball cards hasn't always performed so profitably over the years. During 2003, Leo Perry sold a signed, rookie Tony Gwynn card at auction for a price of $10,311.50. Unfortunately, in 1999 he had purchased it at a price of $13,377.50. What was Leo's annual rate of return on this baseball card? (A negative answer should be indicated by a minus sign.)

Multiple Choice

• -4.46%

• -6.30%

• 5.12%

• 4.78%

• -2.89%