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At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 1.1 and the risk-free rate was about 3.8%. Apple's price was

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At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 1.1 and the risk-free rate was about 3.8%. Apple's price was $81.08. Apple's price at the end of 2007 was $197.46. If you estimate the market risk premium to have been 6.1%, did Apple's managers exceed their investors' required return as given by the CAPM? C The expected return is %. (Round to two decimal places.) The realized return is %. (Round to two decimal places.) (Select from the drop-down menu.) Did Apple's managers exceed their investors' required return as given by the CAPM

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