At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 14 and the risk-free rate was about 4.3%. Apple's price was $83.81. Apple's price at the end of 2007 was $190.33. If you estimate the market risk premium to have been 5.5%, did Apple's managers exceed their investors required return as given by the CAPM? The expected return is %. (Round to two decimal places.)