What was his annual rate of return on sculpture

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Reference no: EM131460469

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2004, an auction house sold a sculpture at auction for a price of $10557. Unfortunately for the previous owner, he had purchased it in 1992 at a price of $13933.

What was his annual rate of return on this sculpture? (Negative amount should be indicated by a minus sign. (Enter your answer as a percentage, omit the "%" sign in your response, and round your answer to 2 decimal places. For example, 0.12345 or 12.345% should be entered as 12.35.)

Reference no: EM131460469

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