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 $84.64. Apple' price at the end of 2007 was $197.32. If you estimate the market risk premium to have been 5.3%, did Apple's managers exceed their investors' required reti as given by the CAPM? The expected feturn is \%. (Round to two decimal places)