A.C. Pharmaceutical announced FDA approval for a new drug on October 12th. X.Y.Drug Co. announced approval for its new drug on October 14th. No other information was released that would affect returns over the period. What is the combined cumulative abnormal return for the 5 day period commencing 2 days prior to the approval announcement date? Use the following data to answer this question. No trading occurred on October 15th and 16th.

Date 10-Oct 11-Oct 12-Oct 13-Oct 14-Oct 17-Oct 18-Oct Market 0.20% 0.10% 0.00% -0.10% -0 . 20% 0.10% -0 . 10% AC Return XY Return 0.10% 0 . 20% 060% 040% -050% -0.30% -0 . 10% 000% -010% 030% 0.20% 030% -0 . 10% -0 . 40%