Please use excel rate funtion and show the formla

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003 , Sotheby's sold the Edgar Degas bronze sculpture Petite Danseuse de Quatorze Ans at auction for a price of $ \$ 10,311,500 $. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $ \$ 12,377,500 $. What was his annual rate of return on this sculpture? Complete the following analysis. Do not hard code values in your calculations.

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Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003 , Sotheby

Please use excel rate funtion and show the formla

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003 , Sotheby's sold the Edgar Degas bronze sculpture Petite Danseuse de Quatorze Ans at auction for a price of $ \$ 10,311,500 $. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $ \$ 12,377,500 $. What was his annual rate of return on this sculpture? Complete the following analysis. Do not hard code values in your calculations.

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