At the beginning of 2007, Apple's beta was 1.3 and the risk-free rate was about 4.1%. Apple's price was $80.45. Apple's price at the end of 2007 was $198.33. If you estimate the market risk premium to have been 6.6%, did Apple's managers exceed their investors' required return as given by the CAPM? The expected return is 11%. (Round to two decimal places.)