In 2017, Leonardo da Vinci's painting Salvator Mundi sold for a record $450.3 million. In 1958, it sold for $125,
equivalent in purchasing power to about $1,060 at 2017 prices. The
painting was originally commissioned by King Louis XII of France in
about 1500. The Wall Street Journal guesstimated that the
king may have paid Leonardo the equivalent of $575,000 in 1519.a. What was the annual rate of appreciation in
the price of the painting between 1958 and 2017 adjusted for...