Problem 14-1 Cumulative Abnormal Returns Delta, United, and American Airlines announced purchases of planes on July 18/7781 February 12 (2/12), and October 7 (10/7), respectively. Delta .00 United American MarketCompany Market Company Market Company Date Return Return Date Return Return Date Return Return 7/12 -47 -73 218 -96 -1.32 10/1 7/13 .37 2/9 -1.06 -1.32 10/2 7/16 2.21 2/10 33 10/3 7/17 -1.69 2441 4.33 10/6 7/18 1.16 242 - 14 10/7 7/19 -65 2/15 3.53 10/8 720 -109 2/16 .67 10/9 7223 48 2/17 - 28 10/10 724 __03 2/18 .25 10/13 .00 Sell 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... 32.10.) Abnormal returns (Ri - RM) Days from announcement United Average -0.38 -028 nere to sea