Franklin Mills Announced at Time T That It Just Sold

Multiple Choice

Franklin Mills announced at Time t that it just sold its worst performing division.There were no other announcements affecting the firm.The firm's stock had daily returns of -.1,+.3,+.8,-.1,+.3 for Time _{t - 2} to Time _{t + 2},respectively.The daily returns on the market were +.2,-.2,+.1,-.2,and +.1 for Time _{t - 2} to Time _{t + 2},respectively.What is the cumulative abnormal return for these five days?

A) +.7
B) +.8
C) +1.1
D) +1.2
E) +.6