The table below shows the incremental claims paid on a portfolio of insurance policies together with an extract from an index of prices. Claims are fully paid by the end of development year 3. Development year Year Price Index (mid year) Accident Year 0 | 2016 | 103 2017 99 2018 110 2019 132 1 32 2 1 35 2 29 16 3 13 2016 2017 2018 2019 100 104 109 111 Calculate the reserve from unpaid claims using the inflation-adjusted chain ladder (use average model) approach, assuming that future inflation will be 4%