Ada Fleet Company is a transport SMME which has an insured fleet of four passenger buses. The insurance policy is due for renewal, and the Managing Director of the company wants to determine the MPY in preparation for renewal negotiations. The company assumes that losses have an equal chance of occurring. Bus records are as follows:

Buses Losses

1. Liner 105 000
2. Biler 260 000
3. Zyder R170 000
4. Xyer R98 000

Question Calculate the MPYc using Chebyshev method and a factor of 1.05.