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Delta, United, and American Airlines announced purchases ofplanes on July 18 (7/18), February 12 (2/12), and October 7 (10/7),respectively. Delta United AmericanDateMarketReturnCompanyReturnDateMarketReturnCompanyReturnDateMarketReturnCompanyReturn7/12?.42?.63 2/8?.91 ?1.22 10/1.62 .40 7/13.00.32 2/9?1.01?1.22 10/2.52 .69 7/161.261.46 2/10.52.32 10/31.22 1.22 7/17?1.26 ?1.08 2/11.72 3.34 10/6.22 ?2.58 7/18?2.21 1.11 2/12?.42 ?.1910/7?2.32 ?.45 7/19?.85 ?.70 2/151.222.78 10/8.62 .62 7/20?.91?1.14 2/16.62 .62 10/9?.42 ?.19 7/23.73 .53 2/17?.42 ?.2210/10.42 ?.25 7/24.22 .01 2/18.42 .30 10/13.00 ?.22 Given the above information, calculate the cumulative abnormalreturn (CAR) for these stocks as a group. (A negativeanswer should be indicated by a minus sign. Leave no cells blank -be certain to enter "0" wherever required. Do not roundintermediate calculations and round your answers to 2 decimalplaces, e.g., 32.16.) Abnormal returns (Ri –RM)Days from announcementDeltaUnitedAmericanSumAverage abnormal returnCumulative abnormal return?4 ?3 ?2 ?1 0 1 2 3 4 My previous question was not answered
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