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Flats Co. (FC) and Middle Co. (MC) are both operations and maintenance companies. Their stock returns for the past 3 years were as follows FC:

Flats Co. (FC) and Middle Co. (MC) are both operations and maintenance companies. Their stock returns for the past 3 years were as follows FC: -5%, 15%, 20%; MC: 8%, 8%, 20%. Calculate the covariance between the returns of FC and MC (ignore degrees of freedom).

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