diff --git a/Makefile b/Makefile
index bd11aca..67f5a38 100644
--- a/Makefile
+++ b/Makefile
@@ -15,8 +15,8 @@ INSTALL_BIN= $(INSTALL_TOP)/bin
 INSTALL_INC= $(INSTALL_TOP)/include
 INSTALL_LIB= $(INSTALL_TOP)/lib
 INSTALL_MAN= $(INSTALL_TOP)/man/man1
-INSTALL_LMOD= $(INSTALL_TOP)/share/lua/$V
-INSTALL_CMOD= $(INSTALL_TOP)/lib/lua/$V
+INSTALL_LMOD= $(INSTALL_TOP)/share/lua/${VER}
+INSTALL_CMOD= $(INSTALL_TOP)/lib/lua/${VER}
 
 # How to install. If your install program does not support "-p", then
 # you may have to run ranlib on the installed liblua.a.
@@ -46,8 +46,8 @@ TO_SOLIB = liblua.so.$(R)
 TO_MAN= lua.1 luac.1
 
 # Lua version and release.
-V= 5.2
-R= $V.4
+VER= 5.2
+R= ${VER}.4
 
 # Targets start here.
 all:	$(PLAT)
@@ -88,7 +88,7 @@ dummy:
 echo:
 	@cd src && $(MAKE) -s echo
 	@echo "PLAT= $(PLAT)"
-	@echo "V= $V"
+	@echo "VER= ${VER}"
 	@echo "R= $R"
 	@echo "TO_BIN= $(TO_BIN)"
 	@echo "TO_INC= $(TO_INC)"