un November $14,$ Inorogooa tnterprises announced that the pubic and acrimonous datie with its current ctu nad deen 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. Given the

information below, calculate the cumulative abnormal return $($CAR$)$ around this announcement. Assume the company has an expected return

equal to the market return.

Note: A negatlve value should be Indicated by a mInus sign. Leave no cells blank $-$ be certaln to enter $"$O$"$ wherever required. Do not

round Intermedlate calculations. Round your answers to $1$ decimal place.

Answer is not complete.Problem $7-1$ Cumulative Abnormal Returns $($LO$2,$ CFA$2)$

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. Given the information below, calculate the cumulative abnormal return $($CAR$)$ around this announcement. Assume the company has an expected return equal to the market return.

Note: A negative value should be indicated by a minus sign. Leave no cells blank $-$ be certain to enter $"0"$ wherever required. Do not round intermediate calculations. Round your answers to $1$ decimal place.

Date Market Return $(\%)$ Company Return $(\%)$

November $71\mathrm{.}10\mathrm{.}7$

November $80\mathrm{.}90\mathrm{.}8$

November $90\mathrm{.}80\mathrm{.}2$

November $100\mathrm{.}60\mathrm{.}5$

November $111\mathrm{.}91\mathrm{.}0$

November $140\mathrm{.}72\mathrm{.}4$

November $150\mathrm{.}10\mathrm{.}1$

November $160\mathrm{.}91\mathrm{.}3$

November $170\mathrm{.}80\mathrm{.}9$

November $180\mathrm{.}80\mathrm{.}0$

November $210\mathrm{.}90\mathrm{.}2$