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19. In 1886, 15-year old Pablo Picasso completed his firstacademic work, First Communion. In 1900, your great grandmotherbought it for $200. Your mother sold it in 2017 (1 17 years later.for $30 million (net of auction fees and taxes). What was theinvestment's average annual real return over the life of theinvestment if average inflation was 2.9%, and the average marketrisk premium was 6.2%? A. 3.1% B. 7.6% c. 9.1% 10.7% 25.8%
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