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At the beginning of 2 0 0 7 ( the year the iPhone was introduced ) , Apple's beta was 1 . 5 1 and

At the beginning of 2007(the year the iPhone was introduced), Apple's beta was 1.51 and the risk-free rate was about 4.69%. Apple's price was $83.12. Apple's price at the end of 2007 was $196.64. If you estimate the market risk premium to have been 5.73%, did Apple's managers exceed their investors' required return as given by the CAPM?
The expected return is %.(Round to two decimal places.)
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