Florida Company (FC)and Minnesota Company (MC)are Both Service Companies

Multiple Choice

Florida Company (FC) and Minnesota Company (MC) are both service companies. Their stock returns for the past three years were as follows: FC: −5%, 15 percent, 20 percent; MC: 8 percent, 8 percent, 20 percent.
Calculate the covariance between the returns of FC and MC. (Ignore the correction for the loss of a degree of freedom set out in the text.)

A) 60
B) 80
C) 40
D) 100