Yes! I do! Business plan

Group 3

GROUP MEMBERS

• Anja Grgic M997Z205

• Marko Marinic M997Z206

• Marie Nikki Martinez M997z208

Motto

At Yes! I do! feel like QUEEN without paying QUEEN prices!

1. EXECUTIVE SUMMARY

• Yes! I do! is a bridal gown shop like no other. While most retail bridal shops are selling wedding gowns that many people nowadays feel are unreasonably priced, our shop will provide a solution and fill that gap.

•  Based in Croatia, Yes! I do! will meet the unmet market demand of wedding gowns that is for the price sensitive customers. Yes! I do! will provide a number of different middle and low end bridal gowns, without compromising quality and style. In addition, contacts to related services will be given to customers.

• Wedding preparations especially bridal gowns are perceived as very costly. Traditionally, it is the parents of the bride or groom that are paying for the wedding. But, times are tougher. Nowadays, it is the couple that needs to save a lot of money for their own wedding. It is therefore very practical to provide this kind of product and/or service at a price that both young and old couples can afford.

• To keep our customers, we will make sure that the quality of our stock is excellent and we need to provide our customers with exemplary service.

2. BUSINESS DESCRIPTION AND VISION

2.1 Products and Services• Yes! I do! will primarily generate its revenues from the sale of

bridal gowns. The Company will specialize in the sale of low and middle end gowns and other related products. Ms. Anja Grgic is currently sourcing several inventory suppliers that will provide the business with its gowns, shoes and accessories.

2.2 Vision Statement

• At Yes! I do!, our vision is to be the premier bridal shop in the industry, by providing our customers with beautiful and quality wedding gowns and superior service.

2.3 Mission Statement

• Yes! I do!’s mission is to become the first and the recognized leader in Croatia in its targeted market for low and middle end bridal gowns and related products and ensure that all customers leave the store completely satisfied.

2.4 Objectives

• Whatever the age, style, preference of our customers may be, we want everything they want for their wedding to be done perfectly. It is a special day for them so we want every detail of their event to be both a pleasurable and a memorable experience. Therefore we offer a wide array of gowns and dresses for them to choose from and provide them contacts for other services they specifically need.

2.5 Management Team

• The Company was founded by Ms. Anja Grgic. Ms. Anja Grgic has worked as an employee, assistant manager and manager for several clothes stores in the capital of Croatia, Zagreb. Through her expertise, she will be able to bring the operations of the business to profitability within its first year of operations.

 2.6 The Financing

• Ms. Anja Grgic is seeking to raise $31.400 from personal savings and help from family and close friends.

2.7 Sales Forecasts

• Yes! I do! expects a growth rate at the start of operations. We expect that the business will aggressively expand during the first three years of operation.

3. Definition of the Market

• US trends- wedding industry “reccesion- proof” industry

• Croatian market situation- expensive wedding gowns due to the label of French/Italian design

• Customers are paying high prices only for a name, not quality

Competitor´s vs. Our wedding gowns

• In Croatia, people traditionally like big weddings

• Brides like to wear traditionally large gowns instead of more informal dresses

• Reccesion brought changes- market characterized by slow growth (people are price sensitive)

3.1.Competition

• Sole- proprietor shops- single outlet

• There are some high-end independent shops as well as some budget ones (but their price is still high)

3.2. Market Segmentation

• Yes! I do! will be targeting low-to middle-income brides

• Our shop will welcome brides from 18-45 years, as long as they feel that buying a dress for a high price is not what they want

Potential customers

Market Analysis

2012 2013 2014 2015 2016

Potential Customers Growth CAGR

Women 18-45 years old 0% 1.770.000 1.770.000 1.770.000 1.770.000 1.770.000 0,00%

Other 0% 0 0 0 0 0 0,00%

Total 0,00% 1.770.000 1.770.000 1.770.000 1.770.000 1.770.000 0,00%

4. Promotion

1. First three months- woman magazines (Gloria, Story)

2. Fashion web-sites, sponsored articles

3. Ads in form of banners on wedding web-sites and forums

4. Dispension of brochures to the couples on church preparation-for-marriage meetings

5. Word-of-mouth from our previous customers

5. Description of Product and Service

• Yes! I do! is a bridal shop in which one can buy wedding dresses

• Assortment contains:

a. different styles of wedding gowns, from more traditional dresses to more casual evening dresses/gowns (plus colorfull wedding gowns)

b. wedding accessories and shoes

Competitive Advantage

• Two competitive advantages:

1. The lowest price

• We are cutting the „middle man„ by going straight to the production company doors

• Suppliers from China and Taiwan

• We can fix our prices in range around $400 for the purchased dress (wholesale price $200)

The price of the wedding dress(main cities)

Zagreb$760

Osijek$700

Rijeka$600

Split$600

[1] This is the retail price. The prices of the purchased dresses are between $1000 to $7,000.

Competitive advantage

2. Service

• Our shop as a link to other services connected with wedding- direct benefit for customer, indirect- to our shop´s reputation (word-of-mouth)

• Exceptional service, no matter the price of the wedding dress (when entering the store, our customer will be offered to relax on a couch with a cup of tea or coffee, some cookies- showing them we CARE…)

 

6. Personnel Plan

• Anja will work for Yes! I do! full time

• If needed, after will hire one part-time personnel (student preferably)

• Anja´s responsibilities:

1. Supply

2. Accounting

3. Purchase

4. Interior design

5. Streamstress- repairments if needed

• Working time: Monday to Friday 9:00 to 1:00 and 5:00 to 8:00, Saturday 9:00 to 1:00

• Anja´s yearly salary: $12,000

Financial plan

Start-up costStart-up Requirements Start-up Expenses Legal $2.000 Computer with a point of sale terminal $500 Legal software $500 Rent $600 Display racks, couches, desk, chairs, mirrors, fitting rooms $2.000 Website development $800 Total Start-up Expenses $6.400

Start-up Assets Cash Required $15.000 Start-up Inventory $10.000 Other Current Assets $0 Long-term Assets $0 Total Assets $25.000

Total Requirements $31.400

$0

$4.000

$8.000

$12.000

$16.000

$20.000

$24.000

$28.000

$32.000

Expenses Assets Investment Loans

Start-up

Sales forecastSales Forecast

FY 2013 FY 2014 FY 2015

Unit Sales

Wedding dresses 408 600 700

0 0 0

Total Unit Sales 408 600 700

Unit Prices FY 2013 FY 2014 FY 2015

Wedding dresses $500,00 $500,00 $500,00

0 $0,00 $0,00 $0,00

Sales

Wedding dresses $204.000 $300.000 $350.000

0 $0 $0 $0

Total Sales $204.000 $300.000 $350.000

Direct Unit Costs FY 2013 FY 2014 FY 2015

Wedding dresses $220,00 $200,00 $200,00

0 $0,00 $0,00 $0,00

Direct Cost of Sales

Wedding dresses $89.760 $120.000 $140.000

0 $0 $0 $0

Subtotal Direct Cost of Sales $89.760 $120.000 $140.000

Wedding dresses

0

$0

$3.000

$6.000

$9.000

$12.000

$15.000

$18.000

$21.000

$24.000

$27.000

$30.000

tra

svi

lipsr

pko

lru

jlis

stu

pro

sij

vlj

ožu

Sales Monthly

Sales Forecast

tra svi lip srp kol ruj lis stu pro sij vlj ožu Unit Sales Wedding dresses 12 16 20 24 28 32 36 40 44 48 52 56

0 0 0 0 0 0 0 0 0 0 0 0 Total Unit Sales 12 16 20 24 28 32 36 40 44 48 52 56

Unit Prices tra svi lip srp kol ruj lis stu pro sij vlj ožu Wedding dresses $500,00 $500,00 $500,00 $500,00 $500,00 $500,00 $500,00 $500,00 $500,00 $500,00 $500,00 $500,00

0 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00

Sales Wedding dresses $6.000 $8.000 $10.000 $12.000 $14.000 $16.000 $18.000 $20.000 $22.000 $24.000 $26.000 $28.000

0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Sales $6.000 $8.000 $10.000 $12.000 $14.000 $16.000 $18.000 $20.000 $22.000 $24.000 $26.000 $28.000

Direct Unit Costs tra svi lip srp kol ruj lis stu pro sij vlj ožu

Wedding dresses

0,00% $220,00 $220,00 $220,00 $220,00 $220,00 $220,00 $220,00 $220,00 $220,00 $220,00 $220,00 $220,00

0 0,00% $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00 $0,00

Direct Cost of Sales Wedding dresses $2.640 $3.520 $4.400 $5.280 $6.160 $7.040 $7.920 $8.800 $9.680 $10.560 $11.440 $12.320

0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Subtotal Direct Cost of Sales

$2.640 $3.520 $4.400 $5.280 $6.160 $7.040 $7.920 $8.800 $9.680 $10.560 $11.440 $12.320

Wedding dresses

0

$0

$40.000

$80.000

$120.000

$160.000

$200.000

$240.000

$280.000

$320.000

FY 2013 FY 2014 FY 2015

Sales by Year

Start-up funding

Start-up Funding

Start-up Expenses to Fund $6.400

Start-up Assets to Fund $25.000

Total Funding Required $31.400

Assets

Non-cash Assets from Start-up $10.000

Cash Requirements from Start-up $15.000

Additional Cash Raised $0

Cash Balance on Starting Date $15.000

Total Assets $25.000

Liabilities and Capital

Liabilities

Current Borrowing $0

Long-term Liabilities $0

Accounts Payable (Outstanding Bills) $0

Other Current Liabilities (interest-free) $0

Total Liabilities $0

Capital

Planned Investment

Owner $31.400

Investor $0

Additional Investment Requirement $0

Total Planned Investment $31.400

Loss at Start-up (Start-up Expenses) ($6.400)

Total Capital $25.000

Total Capital and Liabilities $25.000

Total Funding $31.400

Break-even analysis Break-even Analysis

Monthly Units Break-even 9

Monthly Revenue Break-even $4.695

Assumptions:

Average Per-Unit Revenue $500,00

Average Per-Unit Variable Cost $220,00

Estimated Monthly Fixed Cost $2.629

$0

$1.000

$2.000

$3.000

$4.000

($1.000)

($2.000)

0 2 4 6 8 10 12 14 16 18 20 22

Break-even Analysis

Profit Pro Forma Profit and Loss

FY 2013 FY 2014 FY 2015

Sales $204.000 $300.000 $350.000

Direct Cost of Sales $89.760 $120.000 $140.000

Other Costs of Sales $0 $0 $0

Total Cost of Sales $89.760 $120.000 $140.000

Gross Margin $114.240 $180.000 $210.000

Gross Margin % 56,00% 60,00% 60,00%

Expenses

Payroll $17.000 $18.000 $24.000

Marketing/Promotion $3.600 $2.000 $2.000

Depreciation $0 $0 $0

Rent $7.200 $7.200 $7.200

Utilities $1.200 $1.200 $1.200

Insurance $0 $0 $0

Payroll Taxes $2.550 $2.700 $3.600

Other $0 $0 $0

Total Operating Expenses $31.550 $31.100 $38.000

Profit Before Interest and Taxes $82.690 $148.900 $172.000

EBITDA $82.690 $148.900 $172.000

Interest Expense $0 $0 $0

Taxes Incurred $24.807 $44.670 $51.600

Net Profit $57.883 $104.230 $120.400

Net Profit/Sales 28,37% 34,74% 34,40%

$0

$1.000

$2.000

$3.000

$4.000

$5.000

$6.000

$7.000

$8.000

$9.000

$10.000

tra svi lip srp kol ruj lis stu pro sij vlj ožu

Profit Monthly

Pro Forma Profit and Loss

tra svi lip srp kol ruj lis stu pro sij vlj ožu Sales $6.000 $8.000 $10.000 $12.000 $14.000 $16.000 $18.000 $20.000 $22.000 $24.000 $26.000 $28.000 Direct Cost of Sales $2.640 $3.520 $4.400 $5.280 $6.160 $7.040 $7.920 $8.800 $9.680 $10.560 $11.440 $12.320 Other Costs of Sales $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Total Cost of Sales $2.640 $3.520 $4.400 $5.280 $6.160 $7.040 $7.920 $8.800 $9.680 $10.560 $11.440 $12.320

Gross Margin $3.360 $4.480 $5.600 $6.720 $7.840 $8.960 $10.080 $11.200 $12.320 $13.440 $14.560 $15.680 Gross Margin % 56,00% 56,00% 56,00% 56,00% 56,00% 56,00% 56,00% 56,00% 56,00% 56,00% 56,00% 56,00%

Expenses Payroll $1.000 $1.000 $1.500 $1.500 $1.500 $1.500 $1.500 $1.500 $1.500 $1.500 $1.500 $1.500 Marketing/Promotion $600 $600 $600 $200 $200 $200 $200 $200 $200 $200 $200 $200 Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Rent $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 Utilities $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 Insurance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Payroll Taxes 15% $150 $150 $225 $225 $225 $225 $225 $225 $225 $225 $225 $225 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Operating Expenses $2.450 $2.450 $3.025 $2.625 $2.625 $2.625 $2.625 $2.625 $2.625 $2.625 $2.625 $2.625

Profit Before Interest and Taxes $910 $2.030 $2.575 $4.095 $5.215 $6.335 $7.455 $8.575 $9.695 $10.815 $11.935 $13.055

EBITDA $910 $2.030 $2.575 $4.095 $5.215 $6.335 $7.455 $8.575 $9.695 $10.815 $11.935 $13.055 Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Taxes Incurred $273 $609 $773 $1.229 $1.565 $1.901 $2.237 $2.573 $2.909 $3.245 $3.581 $3.917

Net Profit $637 $1.421 $1.803 $2.867 $3.651 $4.435 $5.219 $6.003 $6.787 $7.571 $8.355 $9.139 Net Profit/Sales 10,62% 17,76% 18,02% 23,89% 26,08% 27,72% 28,99% 30,01% 30,85% 31,54% 32,13% 32,64%

$0

$20.000

$40.000

$60.000

$80.000

$100.000

$120.000

FY 2013 FY 2014 FY 2015

Profit Yearly

$0

$2.000

$4.000

$6.000

$8.000

$10.000

$12.000

$14.000

$16.000

tra svi lip srp kol ruj lis stu pro sij vlj ožu

Gross Margin Monthly

$0

$30.000

$60.000

$90.000

$120.000

$150.000

$180.000

$210.000

FY 2013 FY 2014 FY 2015

Gross Margin Yearly

Cash

Net Cash Flow

Cash Balance

$0

$10.000

$20.000

$30.000

$40.000

$50.000

$60.000

$70.000

trasvi

lipsrp

kolruj

lisstu

prosij

vljožu

Cash

Pro Forma Cash Flow

FY 2013 FY 2014 FY 2015

Cash Received

Cash from Operations

Cash Sales $204.000 $300.000 $350.000

Subtotal Cash from Operations $204.000 $300.000 $350.000

Additional Cash Received

Sales Tax, VAT, HST/GST Received $20.400 $30.000 $35.000

New Current Borrowing $0 $0 $0

New Other Liabilities (interest-free) $0 $0 $0

New Long-term Liabilities $0 $0 $0

Sales of Other Current Assets $0 $0 $0

Sales of Long-term Assets $0 $0 $0

New Investment Received $0 $0 $0

Subtotal Cash Received $224.400 $330.000 $385.000

Expenditures FY 2013 FY 2014 FY 2015

Expenditures from Operations

Cash Spending $148.437 $203.480 $229.963

Bill Payments $0 $0 $0

Subtotal Spent on Operations $148.437 $203.480 $229.963

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out $20.400 $30.000 $35.000

Principal Repayment of Current Borrowing $0 $0 $0

Other Liabilities Principal Repayment $0 $0 $0

Long-term Liabilities Principal Repayment $0 $0 $0

Purchase Other Current Assets $0 $0 $0

Purchase Long-term Assets $0 $0 $0

Dividends $0 $0 $0

Subtotal Cash Spent $168.837 $233.480 $264.963

Net Cash Flow $55.563 $96.520 $120.037

Cash Balance $70.563 $167.083 $287.121

Pro Forma Cash Flow

tra svi lip srp kol ruj lis stu pro sij vlj ožu

Cash Received

Cash from Operations

Cash Sales $6.000 $8.000 $10.000 $12.000 $14.000 $16.000 $18.000 $20.000 $22.000 $24.000 $26.000 $28.000

Subtotal Cash from Operations $6.000 $8.000 $10.000 $12.000 $14.000 $16.000 $18.000 $20.000 $22.000 $24.000 $26.000 $28.000

Additional Cash Received

Sales Tax, VAT, HST/GST Received 10,00% $600 $800 $1.000 $1.200 $1.400 $1.600 $1.800 $2.000 $2.200 $2.400 $2.600 $2.800

New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Other Liabilities (interest-free) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Sales of Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Cash Received $6.600 $8.800 $11.000 $13.200 $15.400 $17.600 $19.800 $22.000 $24.200 $26.400 $28.600 $30.800

Expenditures tra svi lip srp kol ruj lis stu pro sij vlj ožu

Expenditures from Operations

Cash Spending $2.723 $3.059 $13.798 $13.854 $4.190 $14.526 $14.862 $15.198 $15.534 $15.870 $16.206 $18.622

Bill Payments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Spent on Operations $2.723 $3.059 $13.798 $13.854 $4.190 $14.526 $14.862 $15.198 $15.534 $15.870 $16.206 $18.622

Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out $600 $800 $1.000 $1.200 $1.400 $1.600 $1.800 $2.000 $2.200 $2.400 $2.600 $2.800

Principal Repayment of Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Long-term Liabilities Principal Repayment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Purchase Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Cash Spent $3.323 $3.859 $14.798 $15.054 $5.590 $16.126 $16.662 $17.198 $17.734 $18.270 $18.806 $21.422

Net Cash Flow $3.277 $4.941 ($3.798) ($1.854) $9.811 $1.475 $3.139 $4.803 $6.467 $8.131 $9.795 $9.379

Cash Balance $18.277 $23.218 $19.421 $17.567 $27.378 $28.852 $31.991 $36.793 $43.260 $51.390 $61.185 $70.563

Balance sheetPro Forma Balance Sheet

FY 2013 FY 2014 FY 2015

Assets

Current Assets

Cash $70.563 $167.083 $287.121

Inventory $12.320 $20.030 $20.392

Other Current Assets $0 $0 $0

Total Current Assets $82.883 $187.113 $307.513

Long-term Assets

Long-term Assets $0 $0 $0

Accumulated Depreciation $0 $0 $0

Total Long-term Assets $0 $0 $0

Total Assets $82.883 $187.113 $307.513

Liabilities and Capital FY 2013 FY 2014 FY 2015

Current Liabilities

Accounts Payable $0 $0 $0

Current Borrowing $0 $0 $0

Other Current Liabilities $0 $0 $0

Subtotal Current Liabilities $0 $0 $0

Long-term Liabilities $0 $0 $0

Total Liabilities $0 $0 $0

Paid-in Capital $31.400 $31.400 $31.400

Retained Earnings ($6.400) $51.483 $155.713

Earnings $57.883 $104.230 $120.400

Total Capital $82.883 $187.113 $307.513

Total Liabilities and Capital $82.883 $187.113 $307.513

Net Worth $82.883 $187.113 $307.513

Pro Forma Balance Sheet

tra svi lip srp kol ruj lis stu pro sij vlj ožu

Assets Starting Balances

Current Assets

Cash $15.000 $18.277 $23.218 $19.421 $17.567 $27.378 $28.852 $31.991 $36.793 $43.260 $51.390 $61.185 $70.563

Inventory $10.000 $7.360 $3.840 $9.440 $14.160 $8.000 $10.960 $13.040 $14.240 $14.560 $14.000 $12.560 $12.320

Other Current Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Current Assets $25.000 $25.637 $27.058 $28.861 $31.727 $35.378 $39.812 $45.031 $51.033 $57.820 $65.390 $73.745 $82.883

Long-term Assets

Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Accumulated Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Assets $25.000 $25.637 $27.058 $28.861 $31.727 $35.378 $39.812 $45.031 $51.033 $57.820 $65.390 $73.745 $82.883

Liabilities and Capital tra svi lip srp kol ruj lis stu pro sij vlj ožu

Current Liabilities

Accounts Payable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Subtotal Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Total Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Paid-in Capital $31.400 $31.400 $31.400 $31.400 $31.400 $31.400 $31.400 $31.400 $31.400 $31.400 $31.400 $31.400 $31.400

Retained Earnings ($6.400) ($6.400) ($6.400) ($6.400) ($6.400) ($6.400) ($6.400) ($6.400) ($6.400) ($6.400) ($6.400) ($6.400) ($6.400)

Earnings $0 $637 $2.058 $3.861 $6.727 $10.378 $14.812 $20.031 $26.033 $32.820 $40.390 $48.745 $57.883

Total Capital $25.000 $25.637 $27.058 $28.861 $31.727 $35.378 $39.812 $45.031 $51.033 $57.820 $65.390 $73.745 $82.883

Total Liabilities and Capital $25.000 $25.637 $27.058 $28.861 $31.727 $35.378 $39.812 $45.031 $51.033 $57.820 $65.390 $73.745 $82.883

Net Worth $25.000 $25.637 $27.058 $28.861 $31.727 $35.378 $39.812 $45.031 $51.033 $57.820 $65.390 $73.745 $82.883