Eco-Fone: Smartphone Market Analysis, Expansion and Financials

This report provides a comprehensive analysis of Eco-Fone, a smartphone and accessories company operating in the UK. It begins with an overview of the UK mobile phone market, highlighting the increasing smartphone usage and its impact on sales, with projections for future growth. The report then forecasts UK adult smartphone use, analyzing usage patterns across different age groups. It further explores the potential of the older customer segment, noting the increasing adoption of smartphones by this demographic. A 'pros and cons' analysis is presented to evaluate the expansion of Eco-Fone's business to Kingston, followed by an examination of the costs associated with a new building and the identification of commercial mortgage lenders in the UK. The report also tests potential differences in net takings between Eco-Fone's two shops and analyzes customer satisfaction through a survey, providing recommendations for improvement. Finally, it discusses quality procedures and the application of Poisson distribution in relation to Eco-Fone's operations.

Eco-Fone
SUMMATIVE
ASSESTMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Overview of mobile phone market in UK .............................................................................3
TASK 2............................................................................................................................................3
Forecasting the UK adult smartphone use .............................................................................3
TASK 3............................................................................................................................................4
1.3 Smartphones – A potential market for older customers ..................................................4
TASK 4............................................................................................................................................4
1.4 A ‘pros and cons method’ table for expanding to Kingston ...........................................4
TASK 5 ...........................................................................................................................................5
1.5 Cost of a new building and well-known commercial mortgage lenders in the UK.........5
TASK 6............................................................................................................................................7
1.6 Testing the Possible Difference in Net Takings in the Two Shops..................................7
TASK 7............................................................................................................................................8
1.7 Customer Satisfaction.......................................................................................................8
TASK 8..........................................................................................................................................10
1.8 Quality procedures..........................................................................................................10
CONCLUSION .............................................................................................................................10
REFRENCES.................................................................................................................................11
APPENDICES...............................................................................................................................12

INTRODUCTION
Smartphone market are increasing day by day because people are becoming more found
of using latest technology. This assignment is based on Eco-Fone company which deals in
Smartphone and its accessories (Schmitz, 2013). They have two shops one in Putney and another
is Richmond but they are not currently dealing in laptops or tablets. Respective company is
thinking on expanding their business in Kingston. Below mention report is going to discuss
information related to product, customer and financial in relation Eco-Fone organisation. Along
with the, overview of United Kingdom mobile phone market.
TASK 1
Overview of mobile phone market in UK
According to survey which is conducted by Deloitte on topic of mobile usage in the
market of United Kingdom. Usage of smartphone is increasing day by day which directly giving
positive impact on increasing sales by 1.5 billion on the annual basis. Smartphone presence in
UK is 58% within adult population and through research it has been expected that percentage
will reach till 90% by 2020. such increasing percentage is expecting because majority of people
are attracting towards smartphone as well as it help in their day to day activity also within
workplace. Because Smartphone have such features on which individual can do their office work
also and there are approx. 33.5 millions of population are working out of which 32 millions are
using mobile phone for their job purpose. Smartphones help in doing several activities such as E-
mail, messaging, voice calling, calendar management and so on. Apart from this, old age peoples
are also using mobile phone with the motive of entertainment.
TASK 2
Forecasting the UK adult smartphone use
As per the conducted survey it has been analysed that, 17 percent population under the
age group of 16 to 24 using their mobiles 100 times within a day as well as 12% of same
populations claim that on daily basis they check their phones 200 times. Along with this, 34
percent of 16 to 75 years old peoples are addict for mobile uses they continuously use even while
having food also while sitting with friend or family. Same habit of using phone are founded in
the 49% 16 to 24 year old age group people. 11 percent of age group of 16 to 75 years peoples

use there phone while crossing road and more than 53 percentage peoples do the same while
walking on the road (Global mobile consumer survey, 2017). Thus, it has been founded that
people of age group 16 to 75 use mobile phone more in comparison of others.
TASK 3
1.3 Smartphones – A potential market for older customers
As per the view points of Leo kelion, 2017 it has been analysed that smartphone sales are
booming with older customers in United Kingdom, according to the case study of market.
Because 71% of old customers who are in the age group of 55 to 75 years are own smartphones
as well as from research it has been identified that respective age group people are adopting
technology faster compare to others in the last five years. Moreover, research conducted by
Deloitte whose sample size is 1,163, results that compare to youngsters people of 55 to 75 years
are using mobile phones more (Smartphone sales boom with over-55s, 2019). Along with this,
who have wealth above then average likely to purchase premium handsets. It has been also
acknowledged by research team that first time buyer might are forced for making purchase.
TASK 4
1.4 A ‘pros and cons method’ table for expanding to Kingston
Should we expand
business
Yes, Kingston market is beneficial for Eco- Fone company to
expand there business .
Pros Score/10 Cons Score/10
By expanding business
operations and functions
in Kingston marketplace
they enhance there
number of customers in
overall basis (Chang,
Shen and Liu, 2016).
8 When Eco- Fone
company decide to
expand there business in
Kingston market they
have to arrange huge
amount of capital or
funds for operating
business in effective
ways.
7
When respective smart
phone company expand
there business at
Kingston they able to
increase visibility of
company brand and
6 While expanding
business operations and
functions respective face
major issues related to
policies and regulations
of local governments.
6

name at market place.
By developing business
operations in Kingston
market place Eco- Fone
company get
opportunities to
understand new culture
and they also able to
hire new and innovative
talents of local
residence of respective
country.
8 During expanding
business in Kingston
respective company face
issues related to
language which hamper
there business functions
and operations (Bagga,
Noseworthy and Dawar,
2016).
6
When respective
company enhance there
business at Kingston
they able to increase
profitability ratio and
customers bases.
7 By growing business
operations and functions
in Kingston market
Eco- Fone company also
enlarge there
competitions. Which
directly and indirectly
affect business.
8
Total Pros 29/40 Total Cons 27/40
Average Pros 0.72 Average Cons 0.67
TASK 5
1.5 Cost of a new building and well-known commercial mortgage lenders in the UK
Loan Amount £350000
Number of EMIs 180
Annual Interest Rate 0.07
Monthly Interest Rate 0.00583
Monthly EMI Payment £3145.90
Total Loan Amount Payable £566261.81
Total Interest Payable £216261.81
Mortgage loan is the advance paid money amount as well as debt instrument which is
given by bank against the property of loan taker. This type of loan are mainly taken for buying
any kind of property such as land, home and so on (Premkumar and Nigel, 2015). Moreover, it is
secured which means that lender can forfeit property if loan taker is fail to pay the amount. There

are some components included in mortgage loan such as principal, interest, tax and insurance.
There are some organisations in United Kingdom offering mortgage loans are mention below :-
1. THINK Business Loans Commercial Mortgages
2. B2B Finance.Com Commercial mortgages
3. NatWest Commercial Mortgages
4. Royal bank of Scotland Commercial Mortgages
5. Together Commercial Mortgages
6. Alliance & Leicester plc.

7. bank of Ireland
8. HSBC – UK Mortgage Lenders
TASK 6
1.6 Testing the Possible Difference in Net Takings in the Two Shops
As Eco-Fone's is dealing in smartphones as well as its accessories on discounted rates on
this two retail shops, where first shop has generated profitability mean which is 100 Euro . On
the other hand, another shop has gained profitability mean of 90 Euro. But both has taken a same
sample size i.e. 40 on net daily takings, where standard deviation of both shops is measured as
£20 and £40, respectively. Therefore, it has interpreted from this analysis that owner of first
shop has gained more profitability instead of second shopkeeper. Because with increase of
sample size and mean, variability is expected to be reduced. But here in first case, with sample

size 40 and mean £100, standard of variation is £20. While, another shop on same sample size
has got less mean but high variability. Therefore, both shops didn't take the same net takings or
net profitability, in terms of reliability and validity (Thomas and Bond, 2014). Thus, second shop
require to re-design their offering strategies on discounted rates.
TASK 7
1.7 Customer Satisfaction
1. When was the last time you purchased a product or services from us?
 Within the last month
 Between 1 month and 3 months (.)
 Between 3 and 6 months
 Between 6 months and 1 year
 Never
2. How long have you used our products/services?
 Fewer than 6 months
 Between 6 months and 1 year
 Between 1 and 3 years (.)
 Between 3 and 5 years
 More than 5 years
 Never
3. Please rate us on the following: (Please tick one: excellent=4, Good=3, Fair=2,poor=1)
Basis 4 3 2 1
Customer service/support (.)
Quality of products/services (.)
Sales staff (.)
Price/value (.)
4. How would you rate your overall satisfaction with us?
 Very satisfied

 Satisfied
 Neutral (.)
 Dissatisfied
 Very dissatisfied
5. How likely are you to continue doing business with us?
 Very likely (.)
 Likely
 Neutral
 Unlikely
 Very Unlikely
6. How likely are you to recommend our products/services to others?
 Very likely (.)
 Likely
 Neutral
 Unlikely
 Very Unlikely
7. Please suggest how we can improve our products/services to better serve you.
Recommendation - when research is conducted it has been ask to respondent that when
last time they had purchased anything from them and its answer is between 1 and 3 months.
Second, question is related to the duration of product usage which is within 1 to 3 years and it
shows negative on the organisation because in relation to smartphones time period of using
phone is less. In third question several things are asked such as customer services (good), quality
of products (excellent), sales staff (fair), price or value (good). This shows overall experience of
customers from his/her purchase till after buying services related to products.
Moreover, last fourth is related to overall satisfaction of customers which is neutral.
Thus, Eco-Fone have to take some major steps so they can satisfy them. But due to value of
product and good customer base some organisations are agree to continue business with them
(Koch and Kerschbaum, 2014). In the end, last question is related to recommendation of
respective organisation products or services to others and customer's will do this because of their
products value.

TASK 8
1.8 Quality procedures
Poisson distribution is an statistical distribution which shows the likely number of times
for occurring of an event within particular time period. Moreover, respective statistical
distribution is utilise mainly for independent events that happens at an constant rate in the given
time interval. Poisson distribution is discrete function which means that events will measured on
the basis of its happening or not happening as well as variables are only measured in whole
numbers. Occurrence of fractional are not part of poisson distribution model.
Advise related to the Eco-Fone quality procedure meet are as follows it is analysed that
average of two return cheques an error per month retained due to an average in last two months.
An average is calculated by cumulative frequency of receiving cheques form persons (Abi
Ghanem and Mander, 2014). There is a possibility of meeting the quality assurance procedures
with more than three invoices which can be differentiate the percentage rate of invoice return for
Eco-fone.
CONCLUSION
From the above discussion it has been concluded that usage of smartphone is rapidly
increasing in united Kingdom. Moreover old age peoples are more likely to get attracted with
smart phone which include various features like large screen, Bluetooth, Wi-Fi and many more.
When a smartphone company want to launch or expand there business in international market
they have to do various analysis and research. Such as they can do analysis of pros and corns of
expanding business operations and functions in particular marketplace. They also do research by
using questionnaires methods by which they get feedbacks and further company do innovations
in products and services accordingly.

REFRENCES
Books and Journal
Schmitz Weiss, A., 2013. Exploring news apps and location-based services on the
smartphone. Journalism & Mass Communication Quarterly. 90(3). pp.435-456.
Chang, S.E., Shen, W.C. and Liu, A.Y., 2016. Why mobile users trust smartphone social
networking services? A PLS-SEM approach. Journal of Business Research. 69(11).
pp.4890-4895.
Bagga, C.K., Noseworthy, T.J. and Dawar, N., 2016. Asymmetric consequences of radical
innovations on category representations of competing brands. Journal of Consumer
Psychology. 26(1). pp.29-39.
Premkumar, K. and Nigel, K.G.J., 2015, March. Smart phone based robotic arm control using
raspberry pi, android and Wi-Fi. In 2015 International Conference on Innovations in
Information, Embedded and Communication Systems (ICIIECS) (pp. 1-3). IEEE.
Thomas, J.G. and Bond, D.S., 2014. Review of innovations in digital health technology to
promote weight control. Current diabetes reports. 14(5). p.485.
Koch, S. and Kerschbaum, M., 2014. Joining a smartphone ecosystem: Application developers’
motivations and decision criteria. Information and Software Technology. 56(11).
pp.1423-1435.
Abi Ghanem, D. and Mander, S., 2014. Designing consumer engagement with the smart grids of
the future: bringing active demand technology to everyday life. Technology Analysis &
Strategic Management. 26(10). pp.1163-1175.
Pan, J., Superior Communications, Inc., 2016. Case for mobile phone. U.S. Patent D746,801.
Haberman, Z.C. and et.al., 2015. Wireless smartphone ECG enables large‐scale screening in
diverse populations. Journal of cardiovascular electrophysiology. 26(5). pp.520-526.
Abramovici, M., 2014. Smart products. CIRP Encyclopedia of Production Engineering, pp.1-5.
Online
Smartphone sales boom with over-55s, 2019.[Online].Available
through<https://www.bbc.com/news/technology-41319684>
Global mobile consumer survey. 2017.[Online]. Available
through<http://192.168.1.18/projectfiles/internal_chat_attatchment/
deloitteglobalmobileconsumersurvey2017_ukcut1552049277.pdf>.

APPENDICES
Period EMI Interest Principal Balance
0 £ 350000.00
1 £ 3145.90 £ 2041.67 £ 1104.23 £ 348895.77
2 £ 3145.90 £ 2035.23 £ 1110.67 £ 347785.09
3 £ 3145.90 £ 2028.75 £ 1117.15 £ 346667.94
4 £ 3145.90 £ 2022.23 £ 1123.67 £ 345544.27
5 £ 3145.90 £ 2015.67 £ 1130.22 £ 344414.05
6 £ 3145.90 £ 2009.08 £ 1136.82 £ 343277.23
7 £ 3145.90 £ 2002.45 £ 1143.45 £ 342133.78
8 £ 3145.90 £ 1995.78 £ 1150.12 £ 340983.66
9 £ 3145.90 £ 1989.07 £ 1156.83 £ 339826.84
10 £ 3145.90 £ 1982.32 £ 1163.58 £ 338663.26
11 £ 3145.90 £ 1975.54 £ 1170.36 £ 337492.90

12 £ 3145.90 £ 1968.71 £ 1177.19 £ 336315.71
13 £ 3145.90 £ 1961.84 £ 1184.06 £ 335131.65
14 £ 3145.90 £ 1954.93 £ 1190.96 £ 333940.69
15 £ 3145.90 £ 1947.99 £ 1197.91 £ 332742.77
16 £ 3145.90 £ 1941.00 £ 1204.90 £ 331537.87
17 £ 3145.90 £ 1933.97 £ 1211.93 £ 330325.95
18 £ 3145.90 £ 1926.90 £ 1219.00 £ 329106.95
19 £ 3145.90 £ 1919.79 £ 1226.11 £ 327880.84
20 £ 3145.90 £ 1912.64 £ 1233.26 £ 326647.58
21 £ 3145.90 £ 1905.44 £ 1240.45 £ 325407.13
22 £ 3145.90 £ 1898.21 £ 1247.69 £ 324159.43

23 £ 3145.90 £ 1890.93 £ 1254.97 £ 322904.47
24 £ 3145.90 £ 1883.61 £ 1262.29 £ 321642.18
25 £ 3145.90 £ 1876.25 £ 1269.65 £ 320372.52
26 £ 3145.90 £ 1868.84 £ 1277.06 £ 319095.46
27 £ 3145.90 £ 1861.39 £ 1284.51 £ 317810.96
28 £ 3145.90 £ 1853.90 £ 1292.00 £ 316518.95
29 £ 3145.90 £ 1846.36 £ 1299.54 £ 315219.41
30 £ 3145.90 £ 1838.78 £ 1307.12 £ 313912.30
31 £ 3145.90 £ 1831.16 £ 1314.74 £ 312597.55
32 £ 3145.90 £ 1823.49 £ 1322.41 £ 311275.14
33 £ 3145.90 £ 1815.77 £ 1330.13 £ 309945.01
34 £ 3145.90 £ 1808.01 £ 1337.89 £ 308607.13

35 £ 3145.90 £ 1800.21 £ 1345.69 £ 307261.43
36 £ 3145.90 £ 1792.36 £ 1353.54 £ 305907.89
37 £ 3145.90 £ 1784.46 £ 1361.44 £ 304546.46
38 £ 3145.90 £ 1776.52 £ 1369.38 £ 303177.08
39 £ 3145.90 £ 1768.53 £ 1377.37 £ 301799.71
40 £ 3145.90 £ 1760.50 £ 1385.40 £ 300414.31
41 £ 3145.90 £ 1752.42 £ 1393.48 £ 299020.83
42 £ 3145.90 £ 1744.29 £ 1401.61 £ 297619.22
43 £ 3145.90 £ 1736.11 £ 1409.79 £ 296209.43
44 £ 3145.90 £ 1727.89 £ 1418.01 £ 294791.42
45 £ 3145.90 £ 1719.62 £ 1426.28 £ 293365.14
46 £ 3145.90 £ 1711.30 £ 1434.60 £ 291930.54

47 £ 3145.90 £ 1702.93 £ 1442.97 £ 290487.57
48 £ 3145.90 £ 1694.51 £ 1451.39 £ 289036.18
49 £ 3145.90 £ 1686.04 £ 1459.85 £ 287576.32
50 £ 3145.90 £ 1677.53 £ 1468.37 £ 286107.95
51 £ 3145.90 £ 1668.96 £ 1476.94 £ 284631.02
52 £ 3145.90 £ 1660.35 £ 1485.55 £ 283145.47
53 £ 3145.90 £ 1651.68 £ 1494.22 £ 281651.25
54 £ 3145.90 £ 1642.97 £ 1502.93 £ 280148.32
55 £ 3145.90 £ 1634.20 £ 1511.70 £ 278636.62
56 £ 3145.90 £ 1625.38 £ 1520.52 £ 277116.10
57 £ 3145.90 £ 1616.51 £ 1529.39 £ 275586.71
58 £ 3145.90 £ 1607.59 £ 1538.31 £ 274048.40

59 £ 3145.90 £ 1598.62 £ 1547.28 £ 272501.12
60 £ 3145.90 £ 1589.59 £ 1556.31 £ 270944.81
61 £ 3145.90 £ 1580.51 £ 1565.39 £ 269379.42
62 £ 3145.90 £ 1571.38 £ 1574.52 £ 267804.90
63 £ 3145.90 £ 1562.20 £ 1583.70 £ 266221.20
64 £ 3145.90 £ 1552.96 £ 1592.94 £ 264628.25
65 £ 3145.90 £ 1543.66 £ 1602.23 £ 263026.02
66 £ 3145.90 £ 1534.32 £ 1611.58 £ 261414.44
67 £ 3145.90 £ 1524.92 £ 1620.98 £ 259793.46
68 £ 3145.90 £ 1515.46 £ 1630.44 £ 258163.02
69 £ 3145.90 £ 1505.95 £ 1639.95 £ 256523.07
70 £ 3145.90 £ 1496.38 £ 1649.51 £ 254873.56

71 £ 3145.90 £ 1486.76 £ 1659.14 £ 253214.42
72 £ 3145.90 £ 1477.08 £ 1668.81 £ 251545.61
73 £ 3145.90 £ 1467.35 £ 1678.55 £ 249867.06
74 £ 3145.90 £ 1457.56 £ 1688.34 £ 248178.72
75 £ 3145.90 £ 1447.71 £ 1698.19 £ 246480.53
76 £ 3145.90 £ 1437.80 £ 1708.10 £ 244772.43
77 £ 3145.90 £ 1427.84 £ 1718.06 £ 243054.37
78 £ 3145.90 £ 1417.82 £ 1728.08 £ 241326.29
79 £ 3145.90 £ 1407.74 £ 1738.16 £ 239588.13
80 £ 3145.90 £ 1397.60 £ 1748.30 £ 237839.83
81 £ 3145.90 £ 1387.40 £ 1758.50 £ 236081.33
82 £ 3145.90 £ 1377.14 £ 1768.76 £ 234312.57

83 £ 3145.90 £ 1366.82 £ 1779.08 £ 232533.49
84 £ 3145.90 £ 1356.45 £ 1789.45 £ 230744.04
85 £ 3145.90 £ 1346.01 £ 1799.89 £ 228944.15
86 £ 3145.90 £ 1335.51 £ 1810.39 £ 227133.76
87 £ 3145.90 £ 1324.95 £ 1820.95 £ 225312.80
88 £ 3145.90 £ 1314.32 £ 1831.57 £ 223481.23
89 £ 3145.90 £ 1303.64 £ 1842.26 £ 221638.97
90 £ 3145.90 £ 1292.89 £ 1853.00 £ 219785.97
91 £ 3145.90 £ 1282.08 £ 1863.81 £ 217922.15
92 £ 3145.90 £ 1271.21 £ 1874.69 £ 216047.47
93 £ 3145.90 £ 1260.28 £ 1885.62 £ 214161.84
94 £ 3145.90 £ 1249.28 £ 1896.62 £ 212265.22

95 £ 3145.90 £ 1238.21 £ 1907.69 £ 210357.54
96 £ 3145.90 £ 1227.09 £ 1918.81 £ 208438.72
97 £ 3145.90 £ 1215.89 £ 1930.01 £ 206508.72
98 £ 3145.90 £ 1204.63 £ 1941.26 £ 204567.45
99 £ 3145.90 £ 1193.31 £ 1952.59 £ 202614.86
100 £ 3145.90 £ 1181.92 £ 1963.98 £ 200650.88
101 £ 3145.90 £ 1170.46 £ 1975.44 £ 198675.45
102 £ 3145.90 £ 1158.94 £ 1986.96 £ 196688.49
103 £ 3145.90 £ 1147.35 £ 1998.55 £ 194689.94
104 £ 3145.90 £ 1135.69 £ 2010.21 £ 192679.73
105 £ 3145.90 £ 1123.97 £ 2021.93 £ 190657.80
106 £ 3145.90 £ 1112.17 £ 2033.73 £ 188624.07

107 £ 3145.90 £ 1100.31 £ 2045.59 £ 186578.48
108 £ 3145.90 £ 1088.37 £ 2057.52 £ 184520.95
109 £ 3145.90 £ 1076.37 £ 2069.53 £ 182451.43
110 £ 3145.90 £ 1064.30 £ 2081.60 £ 180369.83
111 £ 3145.90 £ 1052.16 £ 2093.74 £ 178276.09
112 £ 3145.90 £ 1039.94 £ 2105.96 £ 176170.13
113 £ 3145.90 £ 1027.66 £ 2118.24 £ 174051.89
114 £ 3145.90 £ 1015.30 £ 2130.60 £ 171921.30
115 £ 3145.90 £ 1002.87 £ 2143.02 £ 169778.27
116 £ 3145.90 £ 990.37 £ 2155.53 £ 167622.75
117 £ 3145.90 £ 977.80 £ 2168.10 £ 165454.65
118 £ 3145.90 £ 965.15 £ 2180.75 £ 163273.90

119 £ 3145.90 £ 952.43 £ 2193.47 £ 161080.43
120 £ 3145.90 £ 939.64 £ 2206.26 £ 158874.17
121 £ 3145.90 £ 926.77 £ 2219.13 £ 156655.04
122 £ 3145.90 £ 913.82 £ 2232.08 £ 154422.96
123 £ 3145.90 £ 900.80 £ 2245.10 £ 152177.86
124 £ 3145.90 £ 887.70 £ 2258.19 £ 149919.66
125 £ 3145.90 £ 874.53 £ 2271.37 £ 147648.30
126 £ 3145.90 £ 861.28 £ 2284.62 £ 145363.68
127 £ 3145.90 £ 847.95 £ 2297.94 £ 143065.74
128 £ 3145.90 £ 834.55 £ 2311.35 £ 140754.39
129 £ 3145.90 £ 821.07 £ 2324.83 £ 138429.55
130 £ 3145.90 £ 807.51 £ 2338.39 £ 136091.16

131 £ 3145.90 £ 793.87 £ 2352.03 £ 133739.13
132 £ 3145.90 £ 780.14 £ 2365.75 £ 131373.37
133 £ 3145.90 £ 766.34 £ 2379.55 £ 128993.82
134 £ 3145.90 £ 752.46 £ 2393.44 £ 126600.38
135 £ 3145.90 £ 738.50 £ 2407.40 £ 124192.99
136 £ 3145.90 £ 724.46 £ 2421.44 £ 121771.55
137 £ 3145.90 £ 710.33 £ 2435.56 £ 119335.98
138 £ 3145.90 £ 696.13 £ 2449.77 £ 116886.21
139 £ 3145.90 £ 681.84 £ 2464.06 £ 114422.15
140 £ 3145.90 £ 667.46 £ 2478.44 £ 111943.71
141 £ 3145.90 £ 653.00 £ 2492.89 £ 109450.82
142 £ 3145.90 £ 638.46 £ 2507.44 £ 106943.38