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Al the beginning of 2007 (the year the iPhone was introduced). Apple's beta was 12 and the risk free rate was about 48% Apple's price

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Al the beginning of 2007 (the year the iPhone was introduced). Apple's beta was 12 and the risk free rate was about 48% Apple's price was 580 26 Apple's price at the end of 2007 was 5197 67. If you estimate the market risk premium to have been 6.7% did Apple's managers exceed their investors' required return as given by the CAPM2 E The expected return is % (Round to two decimal places)

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