Baker Drugs Announced FDA Approval for a New Drug on August

Baker Drugs announced FDA approval for a new drug on August 3^rd. Treynor Co. announced FDA approval for their new drug on August 6. No other information was released around his time period. What is the combined cumulative abnormal return for the 5 day period commencing 2 days prior to the FDA approval announcement date? Use the following data to answer this question. $$\begin{array} { l l c c } \underline{\text { Date } }& \begin{array} { l } \text { Market } \\\underline{\text { Return }} \%\end{array} & \begin{array} { c } \text { Baker Drugs } \\\underline{\text { Return } }\%\end{array} & \begin{array} { c } \text { Treynor Co. } \\\underline{\text { Return }} \%\end{array} \\ 8 / 1 & 0.1 \% & 0.1 \% & 0.0 \\8 / 2 & - 0.4 & - 0.1 & - 0.5 \\8 / 3 & 0.3 & 0.9 & 0.2 \\8 / 6 & 0.1 & 0.5 & 0.8 \\8 / 7 & - 0.2 & - 0.4 & 0.3 \\8 / 8 & 0.1 & - 0.1 & 0.2 \\8 / 9 & 0.2 & 0.1 & - 0.1\end{array}$$

A) 1.6 percent
B) 1.8 percent
C) 2.2 percent
D) 2.4 percent
E) 2.6 percent