? Calculating rates of return - Excel X - FILE INSERT PAGE LAYOUT HOME FORMULAS REVIEW VIEW DATA Sign In Calibri -11 * BE JA A A- Cells Paste Editing B TU % Alignment Number Conditional Format as Cell Formatting Table Styles Styles Clipboard Font > D14 . K I J H D B G E F 1 2 3 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? 4 5 7 000 a Beginning year Ending year Present value Future value 1999 2003 $ 12,377,500 $ 10,311,500 Complete the following analysis. Do not hard code values in your calculations. 10 11 12 13 14 15 16 Annual interest rate 17