At the beginning of 2007 (the year the iPhone was introduced). Apple's beta was 1.3 and the risk-free rate was about 4.2\%. Apple's price was $83.18. Apple's price at the end of 2007 was $193.63. If you estimate the market risk premium to have been 5.9%, did Apple's managers exceed their investors' required retum as given by the CAPM? The expected return is \%. (Round to two decimal places.) The realized return is \%. (Round to two decimal places.)