Climax Motors Corp

Climax Motors Corp.is an all equity company with 40M shares outstanding.Climax's stock trades for $25.Climax has too much cash.The CEO,Trudy Ryder,wants to distribute the excess cash with an open market stock repurchase.She is contemplating buying back $10.9M worth of shares at a price of $25.Ricky Bobby owns 4 million shares of Climax.He purchased his shares before the repurchase for $25.If Ricky does not sell any shares during the repurchase,then what is his change in wealth from before to after the repurchase?

A) -$2.50 million
B) $0
C) $2.00 million
D) $2.50 million
E) $5.00 million