Suppose the risk-free return is 3.9% and the market portfolio has an expected roburn of 10.2% and a standard deviation of 16%. Johnson & Johnson Corporation stock has a beta of 0.32. What is its expected return? The expected return is % (Round to two decimal places.) At the beginning of 2007 (the year the iPhone was introduced). Apple's beta was 12 and the risk free rate was about 4.7%. Apple's price was $81,33. Apple's price at the end of 2007 was $190.57. If you estimate the market risk premium to have been 5.6%, did Apple's managers oxoned their investors' required return as given by the CAPM? The expected return is % (Round to two decimal places.)