Lance Murdock purchased a wooden statue of a conquistador for $7500 to put in his home office 8 years ago. Lance has recently married and his home office is being converted into a sewing room. His new wife, who has far better taste than Lance, thinks the conquistador is hideous and must go immediately. Lance decided to sell it on e-bay and only received $4500 for it and so he took a loss on the investment. What was the rate of return, that is, the value of i