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Question 8 (3.5 points) Exactly 7 years ago you purchased an original oil painting for $76,500. Today, another art collector sees your painting and offers

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Question 8 (3.5 points) Exactly 7 years ago you purchased an original oil painting for $76,500. Today, another art collector sees your painting and offers you $237,965 to purchase it. If you sell it to her at her offer price, what will be the annual compound rate of return that you will have earned on your painting? Assume no taxes, commissions, or any other fees for the transaction. [Round your answer to the nearest one-tenth of one percent.] 30.2% 26.5% 14.8% 9.9% 17.6% 19.3% 24.3%

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