Please answer the given financial question based on the context.
Context: performance graph the table below compares the cumulative total shareholder return on our common stock with the cumulative total return of ( i ) the standard & poor 2019s 500 composite stock index ( 201cs&p 500 index 201d ) , ( ii ) the standard & poor 2019s industrials index ( 201cs&p industrials index 201d ) and ( iii ) the standard & poor 2019s consumer durables & apparel index ( 201cs&p consumer durables & apparel index 201d ) , from december 31 , 2007 through december 31 , 2012 , when the closing price of our common stock was $ 16.66 . the graph assumes investments of $ 100 on december 31 , 2007 in our common stock and in each of the three indices and the reinvestment of dividends . performance graph 2007 2008 2009 2010 2011 2012 s&p 500 index s&p industrials index s&p consumer durables & apparel index the table below sets forth the value , as of december 31 for each of the years indicated , of a $ 100 investment made on december 31 , 2007 in each of our common stock , the s&p 500 index , the s&p industrials index and the s&p consumer durables & apparel index and includes the reinvestment of dividends. .
||2008|2009|2010|2011|2012|
|masco|$ 55.78|$ 71.52|$ 67.12|$ 52.15|$ 92.49|
|s&p 500 index|$ 63.45|$ 79.90|$ 91.74|$ 93.67|$ 108.55|
|s&p industrials index|$ 60.60|$ 72.83|$ 92.04|$ 91.50|$ 105.47|
|s&p consumer durables & apparel index|$ 66.43|$ 90.54|$ 118.19|$ 127.31|$ 154.72|
in july 2007 , our board of directors authorized the purchase of up to 50 million shares of our common stock in open-market transactions or otherwise . at december 31 , 2012 , we had remaining authorization to repurchase up to 24 million shares . during the first quarter of 2012 , we repurchased and retired one million shares of our common stock , for cash aggregating $ 8 million to offset the dilutive impact of the 2012 grant of one million shares of long-term stock awards . we have not purchased any shares since march 2012. .
Question: as of december 2012 what was the ratio of the percent of the outstanding shares of the authorized repurchase of the company common stock


Answer: The answer is:0.48