Problem 5-15 Calculating Rates of Return (LO3] A coin sold at auction in 2017 for $3,587,000. The coin had a face value of $1 when it was issued in 1785 and had previously been sold for $415,000 in 1970. a. b. At what annual rate did the coin appreciate from its first minting to the 1970 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What annual rate did the 1970 buyer earn on his purchase? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) At what annual rate did the coin appreciate from its first minting to the 2017 sale? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) C. Answer is complete but not entirely correct. Rate of return from 1785 to 1970 Rate of return from 1970 to 2017 Rate of return from 1785 to 2017 7.24 5.02 6.81 % % %