Question: Dev Events announced at Time t that it had fired its CEO. There were no other announcements affecting the firm. The stock had daily returns

Dev Events announced at Time t that it had fired its CEO. There were no other announcements affecting the firm. The stock had daily returns of .1, +.2, .8, .3, +.5 for Timet 2 to Timet + 2, respectively. The daily returns on the market were .1, +.2, .4, .2, and +.2 for Timet 2 to Timet + 2, respectively. What is the cumulative abnormal return for these five days?

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