At the beginning of $2014,$ Apple's beta was $1\mathrm{.}4$ and the risk$-$free rate was about $4\mathrm{.}6\%.$ Apple's price was $$81\mathrm{.}48.$ Apple's price at the end of $2014$ was $$191\mathrm{.}68.$ If you estimate the market risk

premium to have been $6\mathrm{.}7\%,$ did Apple's managers exceed their investors' required return as given by the CAPM?

The expected return was

$\%.($Round to two decimal places.$)$