Although appealing to more refined tastes, art as a collectible has not always perform so profitably. In 2010, an auction house sold a painting at auction for a price of $1,200,000. Unfortunately for the previous owner, he had purchased it three years earlier at a price of $1,780,000. What was his annual rate of return on this painting? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. ) Annual rate of return

Although appealing to more refined tastes, art as a collectible has not always perform so profitably. In 2010, an auction house sold a painting at auction for a price of $1,200,000. Unfortunately for the previous owner, he had purchased it three years earlier at a price of $1,780,000. What was his annual rate of return on this painting? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. ) Annual rate of return

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions

Section: Chapter Questions

Problem 17DQ

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