Although appealing to more refined tastes art as a

Reference no: EM13480865

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2010, a painting was sold at auction for a price of $1,100,000. Unfortunately for the previous owner, he had purchased it three years earlier at a price of $1,680,000. What is his annual rate of return on the painting?

Reference no: EM13480865

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