At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 1.2 and the risk-free rate was about 4.9%. Apple's price was $83.07. Apple's the end of 2007 was $193.94. If you estimate the market risk premium to have been 5.5%, did Apple's managers exceed their investors' required return as giv CAPM? The expected return is %. (Round to two decimal places.)