what is the roi of global payments from 2003 to 2004?
stock performance graph the following line-graph presentation compares our cumulative shareholder returns with the standard & poor 2019s information technology index and the standard & poor 2019s 500 stock index for the past five years . the line graph assumes the investment of $ 100 in our common stock , the standard & poor 2019s information technology index , and the standard & poor 2019s 500 stock index on may 31 , 2003 and assumes reinvestment of all dividends . comparison of 5 year cumulative total return* among global payments inc. , the s&p 500 index and the s&p information technology index 5/03 5/04 5/05 5/06 5/07 5/08 global payments inc . s&p 500 s&p information technology * $ 100 invested on 5/31/03 in stock or index-including reinvestment of dividends . fiscal year ending may 31 . global payments s&p 500 information technology .

|  | Global  Payments | S&P 500 | S&P  Information  Technology |
| :--- | :--- | :--- | :--- |
| May 31, 2003 | $100.00 | $100.00 | $100.00 |
| May 31, 2004 | 137.75 | 118.33 | 121.98 |
| May 31, 2005 | 205.20 | 128.07 | 123.08 |
| May 31, 2006 | 276.37 | 139.14 | 123.99 |
| May 31, 2007 | 238.04 | 170.85 | 152.54 |
| May 31, 2008 | 281.27 | 159.41 | 156.43 |

issuer purchases of equity securities in fiscal 2007 , our board of directors approved a share repurchase program that authorized the purchase of up to $ 100 million of global payments 2019 stock in the open market or as otherwise may be determined by us , subject to market conditions , business opportunities , and other factors . under this authorization , we have repurchased 2.3 million shares of our common stock . this authorization has no expiration date and may be suspended or terminated at any time . repurchased shares will be retired but will be available for future issuance. .

global_payments_2004 = 137.75
global_payments_2003 = 100
roi = (global_payments_2004 - global_payments_2003) / global_payments_2003
answer = roi * 100