Delta, United, and American Airlines announced purchases of planes on July 18 (7/18). February 12 (2/12). and October 7 (10/7), respectively. Delta United American MarketCompany MarketCompany MarketCompany Date Return Return Date Retum Return Date Return Return 7/12 - 49 -.77 278 -.98 -1.36 10/1 .69 .33 7/13 .00 .39 2/9 -1.08 -1.36 10/2 .59 .83 7/16 2.30 2.58 2/10 .59 .31 10/3 1.29 1.29 7/17 -2.30 -1.98 2/11 .79 4.73 10/6 .29 -3.97 7/18 -2.28 1.18 2/12 - 49 -.12 10/7 -2.39 -39 7/19 -.92 -63 2/15 1.29 3.90 10/8 .69 7/20 -.98 -1.13 2/16 .69 .69 10/9 -.49 -34 7/23 .80 46 2/17 - 49 - 27 10/10 49 --31 7/24 29 .01 2/18 49 .23 10/13 .00 -.29 .69 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 "O" wherever required. Do not round Intermediate calculations and round your answers to 2 declmal places, e.g., 32.16.) Abnormal returns (Ri RM) United American Days from announcement -4 Delta Sum Average abnormal return Cumulative abnormal return -3 -2 -1 0 1 2 3 4