AB Pharmaceutical Announced FDA Approval for a New Drug on October

A.B. Pharmaceutical announced FDA approval for a new drug on October 12. Uptown Drug Co. announced FDA approval for its new drug on October 14. No other information was released that would affect returns over this 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. No trading occurred on October 15 or 16.

A) 0.6 percent
B) 1.0 percent
C) 1.2 percent
D) 1.3 percent
E) 1.6 percent