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On November 14, Thorogood Enterprises announced that the public and acrimonious battle with its current CEO had been resolved. Under the terms of the deal,

image text in transcribedOn November 14, Thorogood Enterprises announced that the public and acrimonious battle with its current CEO had been resolved. Under the terms of the deal, the CEO would step down from his position immediately. In exchange, he was given a generous severance package.

On November 14, Thorogood Enterprises announced that the public and acrimonious battle with its current CEO had been resolved. Under the terms of the deal, the CEO would step down from his position immediately In exchange, he was given a generous severance package. Date Nov 7 Nov 8 Nov 9 Nov 10 Nov 11 Nov 14 Nov 15 Nov 16 Nov 17 Nov 18 Nov 21 (96) Company Return (%) 1.4 0.3 -0.5 -0.6 2.5 1.3 0.1 0.9 3.0 0.8 0.0 0.2 1.5 Assume the company has an expected return equal to the market return. What is the percentage abnormal return for Date "-3", which is relative to the announcement date of the event? A negative value should be indicated by a minus sign. Do not round intermediate calculations Round your answers to 1 decimal place.)

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