At the beginning of 2007 (the year the iPhone was introduced), Apple's beta was 1.2 and the risk-free rate was about 3.8%. Apple's price was $82.54. Apple's price at the end of 2007 was $190.92. you estimate the market risk premium to have been 6.7\%, did Apple's managers exceed their investors' required return as given by the CAPM? The expected return is %. (Round to two decimal places.) 
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