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Some investors think that GE s repurchase program is a raw deal for shareholders, because the company paid too much for its repurchased shares. Over

Some investors think that GEs repurchase program is a raw deal for shareholders, because the company paid too much for its repurchased shares. Over the last quarter, GE repurchased 2B shares at an average price of $24 per share. However, at the beginning of the quarter the shares were trading for $20(and there were 10B shares outstanding). Assume that you bought 100 shares at the beginning of the quarter, sold the same percentage of shares as GE repurchased (for the same price that GE paid on average), and then sold your remaining shares after the repurchase was complete. What is your profit on this round-trip investment?

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