At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 1.2 and the risk-free rate was about 5.1%. Apple's price was $81.68. Apple's price at the end of 2007 was $193.25. If you estimate the market risk premium to have been 5.8%, did Apple's managers exceed their investors' required return as given by the CAPM? ... The expected return is %. (Round to two decimal places.)