P5-15 Calculating Rates of Return (LO3) Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, a sculpture was sold at auction for a price of $10,313,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,371,500. What was his annual rate of return on this sculpture? Multiple Choice -5.02% -4.45% -5.02% -4.45% -3.76% -4.00% E5%