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At the beginning of 2007​ (the year the iPhone was​ introduced), Apple's beta was 1.1 and the​ risk-free rate was about 5.1%. ​Apple's price was $81.67. ​Apple's price at the end of 2007 was $199.86. If you estimate the market risk premium to have been 6.4%​, did​ Apple's managers exceed their​ investors' required return as given by the​ CAPM

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