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At the beginning of 2014. Apple's beta was 1.3 and the risk-free rate was about 4.6%. Apple's price was $84.83. Apple's price at the end

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At the beginning of 2014. Apple's beta was 1.3 and the risk-free rate was about 4.6%. Apple's price was $84.83. Apple's price at the end of 2014 was $195.61. If you estimate the market risk premium to have been 5.8%, did Apple's managers exceed their investors' required return as given by the CAPM? The expected return was \%. (Round to two decimal places.) The realized return was \%. (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? (1) (1) This can't be determined. No Yes

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