Consider a product with a daily demand of 400 units, a setup cost per production run of $100, a holding cost per unit of $24.00, and an annual production rate of 292,000 units. the firm operates and experiences demand 365 days per year.

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. during 2003, an auction house sold a sculpture at auction for a price of $10,211,500. unfortunately for the previous owner, he had purchased it in 2000 at a price of $12,177,500. what was his annual rate of return on this sculpture? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answer as