Read the following texts and table with financial data from an S&P 500 earnings report carefully.Based on the question-answer history (if provided), answer the last question. The answer may require mathematical calculation based on the data provided.

Text: 2mar201707015999 ( c ) in october 2016 , our accelerated share repurchase ( 2018 2018asr 2019 2019 ) agreement concluded and we received an additional 44 thousand shares of our common stock . shares purchased pursuant to the asr agreement are presented in the table above in the periods in which they were received . performance graph the following graph compares the performance of our common stock with that of the s&p 500 index and the s&p 500 healthcare equipment index . the cumulative total return listed below assumes an initial investment of $ 100 at the market close on december 30 , 2011 and reinvestment of dividends . comparison of 5 year cumulative total return 2011 2012 2016201520142013 edwards lifesciences corporation s&p 500 s&p 500 healthcare equipment index december 31 . <table class='wikitable'><tr><td>1</td><td>total cumulative return</td><td>2012</td><td>2013</td><td>2014</td><td>2015</td><td>2016</td></tr><tr><td>2</td><td>edwards lifesciences</td><td>$ 127.54</td><td>$ 93.01</td><td>$ 180.17</td><td>$ 223.42</td><td>$ 265.06</td></tr><tr><td>3</td><td>s&p 500</td><td>116.00</td><td>153.58</td><td>174.60</td><td>177.01</td><td>198.18</td></tr><tr><td>4</td><td>s&p 500 healthcare equipment index</td><td>117.42</td><td>150.28</td><td>181.96</td><td>194.37</td><td>207.46</td></tr></table> .
Question: what was the value of edwards lifesciences in 2016 less an initial investment of $100?

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165.06
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