what was the cost of total share repurchases during 2012?
five-year performance comparison 2013 the following graph provides an indicator of cumulative total shareholder returns for the corporation as compared to the peer group index ( described above ) , the dj trans , and the s&p 500 . the graph assumes that $ 100 was invested in the common stock of union pacific corporation and each index on december 31 , 2007 and that all dividends were reinvested . purchases of equity securities 2013 during 2012 , we repurchased 13804709 shares of our common stock at an average price of $ 115.33 . the following table presents common stock repurchases during each month for the fourth quarter of 2012 : period total number of shares purchased [a] average price paid per share total number of shares purchased as part of a publicly announced plan or program [b] maximum number of shares that may yet be purchased under the plan or program [b] .

| <i>Period</i> | <i>Total Number ofSharesPurchased [a]</i> | <i>AveragePrice PaidPer Share</i> | <i>Total Number of Shares</i><i>Purchased as Part of a</i><i>Publicly Announced Plan</i><i>or Program [b]</i> | <i>Maximum Number of</i><i>Shares That May Yet</i><i>Be Purchased Under the Plan</i><i>or Program [b]</i> |
| :--- | :--- | :--- | :--- | :--- |
| Oct. 1 through Oct. 31 | 1,068,414 | 121.70 | 1,028,300 | 16,041,399 |
| Nov. 1 through Nov. 30 | 659,631 | 120.84 | 655,000 | 15,386,399 |
| Dec. 1 through Dec. 31 | 411,683 | 124.58 | 350,450 | 15,035,949 |
| Total | 2,139,728 | $121.99 | 2,033,750 | N/A |

[a] total number of shares purchased during the quarter includes approximately 105978 shares delivered or attested to upc by employees to pay stock option exercise prices , satisfy excess tax withholding obligations for stock option exercises or vesting of retention units , and pay withholding obligations for vesting of retention shares . [b] on april 1 , 2011 , our board of directors authorized the repurchase of up to 40 million shares of our common stock by march 31 , 2014 . these repurchases may be made on the open market or through other transactions . our management has sole discretion with respect to determining the timing and amount of these transactions. .

shares_repurchased = 13804709
price = 115.33
value = shares_repurchased * price
answer = value