a. The expected return is __

b. The realized return is __

c. Did Apple's managers exceed their investors' required return as given by the CAPM?

At the beginning of 2007 (the year the iPhone was introduced), Appie's bnta was 1.3 and the risk-free rate was about 3.6%. Apple's price was 584.83. Apple's price at the end of 2007 was 5195.79. If you estimate the macket risk premium to have been 6.8%, did Apple's managers exceed their investors' tequired return as given by the CAPM