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XYZ can buy a Monet for $8,200,000 today. She believes that the masterpiece can be sold in 9 years for $19,600,000. What is the annual

XYZ can buy a Monet for $8,200,000 today. She believes that the masterpiece can be sold in 9 years for $19,600,000. What is the annual rate of return that XYZ expects to earn on this art investment?

a.

139.02% (plus or minus .02 percentage points)

b.

15.45% (plus or minus .02 percentage points)

c.

10.17% (plus or minus .02 percentage points)

d.

26.56% (plus or minus .02 percentage points)

e.

None of the above is within .02 percentage points of the correct answer

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