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Al the beginning of 2007 (the year the iphone was introduced), Apple's beca was 1.4 and the risk.tree rate was about 4.6%. Apple's price was

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Al the beginning of 2007 (the year the iphone was introduced), Apple's beca was 1.4 and the risk.tree rate was about 4.6%. Apple's price was 583.36 . Apple's price at the end of 2007 was 5197 . B9. If you estimate the market rik premiem to have been 52%, did Apple's managers exceed their invostors' reoured return as given by the CAPM? The expected feturn is 16. (Round to tao decimal places.)

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