'Performance materiality commonly ranges from 60 per cent ... and 85 per cent ... of the figure established for materiality for the financial report as a whole' (Gay & Simnett, 2018, p. 158). Calculate the performance materiality threshold for an audit with low risk for the period ended on 30 June 2021. Assume the company reports net profit of $250M on 30 June 2020 and $158M on 30 June 2021