Delta, United, and American Airlines announced purchases of planes on July 18 (7/18), February 12 (2/12), and October 7 (10/7), respectively. .00 Delta United American MarketCompany Market Company MarketCompany Date Return Return Date Return Return Date Return Return 7/12 -.33 -45 2/8 = 82 -104 10/1 53 28 7/13 .23 2/9 -92 -1.04 10/2 43 .65 7/16 .52 76 2/10 43 19 1013 1.13 7/17 -.52 -28 2/11 .63 1.43 10/6 13 -.91 7/18 -2.12 1.24 2/12 -33 -08 107 2.23 29 7/19 -87 -63 2/15 1.13 1.56 10/8 53 53 7/20 -92 -1.06 2/16 .53 53 10/9 -19 7/23 .73 48 2/17 -33 --19 10/10 33 =09 7/24 23 .10 2/18 .33 .18 10/13 00 13 Given the above information, calculate the cumulative abnormal return (CAR) for these stocks as a group. All of the stocks have a beta of 1 and no other announcements are made. (A negative answer should be indicated by a minus sign. Leave no cells blank be certain to enter "0" wherever required. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Abnormal returns (Ri - RM) Days from announcement Delta United American Sum Average abnormal return Cumulative abnormal return -4 -3 -2 411 0 1 2 3