2009 June exam –q4

q4: the examiner answer as follows:

Achievement of corporate objectives
JJG Co has shareholder wealth maximisation as an objective. The wealth of shareholders is increased by dividends received and capital gains on shares owned. Total shareholder return compares the sum of the dividend received and the capital gain with the opening share price. The shareholders of JJG Co had a return of 58% in 2008, compared with a return predicted by the capital asset pricing model of 14%. The lowest return shareholders have received was 21% and the highest return waw 82%.

why 21% here, is it a mistake? what it should be? 36% or ??????

thanks a lot
was 82%.