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At the beginning of 2014, Apple's beta was 1.1 and the risk-free rate was about 5.2%. Apple's price was $83.72. Apple's price at the end

At the beginning of 2014, Apple's beta was 1.1 and the risk-free rate was about 5.2%. Apple's price was $83.72. Apple's price at the end of 2014 was $198.57. If you estimate the market risk premium to have been 6.8%, did Apple's managers exceed their investors' required return as given by the CAPM?

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