What will be the output of the below TSQL Script?

DECLARE @t TABLE(Chars VARCHAR(20))
INSERT INTO @T SELECT 'D' UNION ALL SELECT 'N' UNION ALL SELECT 'F'

SELECT Chars Data
FROM @T
FOR XML PATH('')

The FOR XML Path transforms the rows to columns but returns the result in XML format

XML_F52E2B61-18A1-11d1-B105-00805F49916B
------------------------------------------------------
<Data>D</Data><Data>N</Data><Data>F</Data>