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GBDFCPPL DPN PXPDPXBSP[LPT[
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äǡ Ï
ä
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GBDFCPPL DPN PXPDPXBSP[LPT[
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GBDFCPPL DPN PXPDPXBSP[LPT[
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&7( 541 Ƴ 2EOEVSR] ^ WIVGE M [MIH^]
8VEH]GNE TEWNE XIGLRSPSKMEƳ2EOEVSR] &VG 5SP ;W^]WXOS ^EG^éēS WMé SH TEWNM TSHV¾ŏS[ERME FS
^[MIH^ERMI XS RMI X]POS TIN^EŏI M ^EF]XOM XS XIŏ V¾ŏRSVSHRSĮÔ WQEO¾[ V¾ŏRSVSHRSĮÔ EVSQEX¾[
.RWTMVEGNE TS[WXERME ǻVQ] &VG 5SP REVSH^MēE WMé [ TV^ITMéOR]Q SXSG^IRMY [ēSWOMGL YPMG^IO 4FIGRMI
&7( 541 XS RS[SG^IWRE ǻVQE TVSHYOYNÒGE QEOEVSR] ^ TSPWOMIN TW^IRMG] SVE^ WTVS[EH^ENÒGE ^ ;ēSGL
QEOVSR] ^ TW^IRMG] HYVYQ SVE^ XSVXIPPMRM M VEZMSPM /EOSĮÔ NIWX Kē¾[R]Q TVMSV]XIXIQ ǻVQ] HPEXIKS
TSWMEHE [ēEWRI PEFSVEXSVMYQ EOVIH]XS[ERI SVE^ TSWMEHE GIVX]ǻOEX] + ( SVE^ . 4
OX¾VI WÒ REN[]ŏW^]QM QMéH^]REVSHS[]QM GIVX]ǻOEXEQM ^ ^EOVIWY FI^TMIG^IĕWX[E TVSHYOGNM ŏ][RSĮGM
&7( 541 '&'.Ĕ 0.
YP )[SVWOE (^ERMIG
XIP JE\
XIP OSQ QFP
;;; &7(541 51
EVGTSP%EVGTSP TP
&7( 541 Ƴ 2EOEVSR] ^ WIVGE M [MIH^]
8VEH]GNE TEWNE XIGLRSPSKMEƳ2EOEVSR] &VG 5SP ;W^]WXOS ^EG^éēS WMé SH TEWNM TSHV¾ŏS[ERME FS
^[MIH^ERMI XS RMI X]POS TIN^EŏI M ^EF]XOM XS XIŏ V¾ŏRSVSHRSĮÔ WQEO¾[ V¾ŏRSVSHRSĮÔ EVSQEX¾[
.RWTMVEGNE TS[WXERME ǻVQ] &VG 5SP REVSH^MēE WMé [ TV^ITMéOR]Q SXSG^IRMY [ēSWOMGL YPMG^IO 4FIGRMI
&7( 541 XS RS[SG^IWRE ǻVQE TVSHYOYNÒGE QEOEVSR] ^ TSPWOMIN TW^IRMG] SVE^ WTVS[EH^ENÒGE ^ ;ēSGL
QEOVSR] ^ TW^IRMG] HYVYQ SVE^ XSVXIPPMRM M VEZMSPM /EOSĮÔ NIWX Kē¾[R]Q TVMSV]XIXIQ ǻVQ] HPEXIKS
TSWMEHE [ēEWRI PEFSVEXSVMYQ EOVIH]XS[ERI SVE^ TSWMEHE GIVX]ǻOEX] + ( SVE^ . 4
OX¾VI WÒ REN[]ŏW^]QM QMéH^]REVSHS[]QM GIVX]ǻOEXEQM ^ ^EOVIWY FI^TMIG^IĕWX[E TVSHYOGNM ŏ][RSĮGM
&7( 541 '&'.Ĕ 0.
YP )[SVWOE (^ERMIG
XIP JE\
XIP OSQ QFP
;;; &7(541 51
EVGTSP%EVGTSP TP
&7( 541 Ƴ 2EOEVSR] ^ WIVGE M [MIH^]
2EOEVSR] NENIG^RI 2EOEVSR] NENIG^RI 2EOEVSR] NENIG^RI 8SXVIPPMRM 7EZMSPM
JSVQ] QEOEVSRY [WXÒŏIO
JSVQ] QEOEVSRY [WXÒŏIO ƽ GMIROE
ƽ GMIROE ƽ ĮVIHRME
ƽ ĮVIHRME ƽ W^IVSOE
ƽ W^IVSOE
ƽ TEWOM
ƽ ^ÒFOS[ERE
7SH^ENI ^ QMéWIQ ^ WIVIQ
WIVS[S KV^]FS[I
+SVQ] QEOEVSRY OVENEROE ^EGMIVOE
STEOS[ERMI NIHRSWXOS[I K
.PSĮÔ [ OEVXSRMI W^X 0,
2EOEVSR] ^ TW^IRMG] HYVYQ 2EOVSR] TIēRS^MEVRMWXI 2EOEVSR] SVOMW^S[I 2EOEVSR] FI^NENIG^RI
4TEOS[ERMI
NIHRSWXOS[I ,
MPSĮÔ [ OEVXSRMI
W^X 0, Į[MHIVIO
4TEOS[ERMI NIHRSWXOS[I ,
4TEOS[ERMI NIHRSWXOS[I , MPSĮÔ [ OEVXSRMI W^X 0, J
MPSĮÔ [ OEVXSRMI W^X 0, SVQ] QEOEVSR¾[ Į[MHIVOM QYW^IPOM
K[ME^HOM PMXIVOM ēI^OM M MRRI
&7( 541 '&'.Ĕ 0.
YP )[SVWOE (^ERMIG
XIP JE\
XIP OSQ QFP
;;; &7(541 51
EVGTSP%EVGTSP TP
&7( 541 Ƴ 2EOEVSR] ^ WIVGE M [MIH^]
2EOEVSR] NENIG^RI 2EOEVSR] NENIG^RI 2EOEVSR] NENIG^RI 8SXVIPPMRM 7EZMSPM
JSVQ] QEOEVSRY [WXÒŏIO
JSVQ] QEOEVSRY [WXÒŏIO ƽ GMIROE
ƽ GMIROE ƽ ĮVIHRME
ƽ ĮVIHRME ƽ W^IVSOE
ƽ W^IVSOE
ƽ TEWOM
ƽ ^ÒFOS[ERE
7SH^ENI ^ QMéWIQ ^ WIVIQ
WIVS[S KV^]FS[I
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STEOS[ERMI NIHRSWXOS[I K
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2EOEVSR] ^ TW^IRMG] HYVYQ 2EOVSR] TIēRS^MEVRMWXI 2EOEVSR] SVOMW^S[I 2EOEVSR] FI^NENIG^RI
4TEOS[ERMI
NIHRSWXOS[I ,
MPSĮÔ [ OEVXSRMI
W^X 0, Į[MHIVIO
4TEOS[ERMI NIHRSWXOS[I ,
4TEOS[ERMI NIHRSWXOS[I , MPSĮÔ [ OEVXSRMI W^X 0, J
MPSĮÔ [ OEVXSRMI W^X 0, SVQ] QEOEVSR¾[ Į[MHIVOM QYW^IPOM
K[ME^HOM PMXIVOM ēI^OM M MRRI
&7( 541 '&'.Ĕ 0.
YP )[SVWOE (^ERMIG
XIP JE\
XIP OSQ QFP
;;; &7(541 51
EVGTSP%EVGTSP TP
1DV]H FKUXSNL Ȃ GODF]HJR"
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GR VWRVRZDQLD X RVµE FKRU\FK QD &KUXSNL VÇ SURGXNWHP EH]JOXWHQRZ\P
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Z\ZRĄXMH UHDNFML DOHUJLF]Q\FK
6XURZLHF MHVW PRQLWRURZDQ\ SRG NÇWHP REHFQRĝFL
P\NRWRNV\Q SOHĝQL SU]H] FR FKUXSNL VÇ Z SHĄQL EH]SLHF]Q\P
SURGXNWHP ľ\ZQRĝFLRZ\P
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: PLDUÛ XSĄ\ZX F]DVX L UR]EXGRZLH ]DSOHF]D WHFKQRORJLF]QHJR UR]ZLMDP\ G]LDĄDOQRĝÉ
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EDGDQH
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SRFKRG]HQLD QDWXUDOQHJR
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QDV]H Z\URE\ ]DFKRZXMÇ Z\VRNLH ZDUWRĝFL RGľ\ZF]H GRVNRQDĄ\ VPDN L VÇ EDUG]R GREU]H
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QLHPRG\ȴNRZDQHM JHQHW\F]QLH NXNXU\G]\ R QDMZ\ľV]HM MDNRĝFL
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SU]\VZDMDOQ\FK L ZDUWRĝFLRZ\FK SRNDUPµZ GOD NDľGHJR ] QDV D Z V]F]HJµOQRĝFL GOD
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Z\PDJD SU]HVWU]HJDQLD ĝFLVĄHM GLHW\ RUD] SRGF]DV VFKRU]HĆ XNĄDGX SRNDUPRZHJR
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.DV]ND NXNXU\G]LDQD MDNR SURGXNW
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GR VWRVRZDQLD X RVµE FKRU\FK QD &KUXSNL VÇ SURGXNWHP EH]JOXWHQRZ\P
FHOLDNLÛ %LDĄNR Z QLHM ]DZDUWH QLH
Z\ZRĄXMH UHDNFML DOHUJLF]Q\FK
6XURZLHF MHVW PRQLWRURZDQ\ SRG NÇWHP REHFQRĝFL
P\NRWRNV\Q SOHĝQL SU]H] FR FKUXSNL VÇ Z SHĄQL EH]SLHF]Q\P
SURGXNWHP ľ\ZQRĝFLRZ\P
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: PLDUÛ XSĄ\ZX F]DVX L UR]EXGRZLH ]DSOHF]D WHFKQRORJLF]QHJR UR]ZLMDP\ G]LDĄDOQRĝÉ
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NXNXU\G]LDQ\FK SDOXV]NµZ 3DNXMHP\ MH Z GXľH HNRQRPLF]QH RSDNRZDQLD RUD] PDĄH 3DOXV]NL NXNXU\G]LDQH
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1DV]D RIHUWD REHMPXMH
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1LH]DSRPQLDQ\ Z\ERURZ\ VPDN F]HNRODGRZ\ JZDUDQWXMH VSHFMDOQLH
&KUXSNL NXNXU\G]LDQH RSUDFRZDQD UHFHSWXUD G]LÛNL F]HPX SDOXV]NL VPDNXMÇ WDN Z\MÇWNRZR
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RUD] IDNW ľH VWDQRZLÇ ]QDNRPLW\ VNĄDGQLN GLHW\ EH]JOXWHQRZHM
R VPDNX 7UXVNDZNRZ\P
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]QDMG]LH VLÛ FRĝ S\V]QHJR L SRľ\ZQHJR QD NDľGÇ RND]MÛ R VPDNX 7Rɝ
3DOXV]NL R VPDNX WRɝ WR LGHDOQD NRPSR]\FMD NDUPHOX
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0XVLFLH LFK VSUµERZDÉ
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6SUµEXM W\FK ZVSDQLDĄ\FK FKUXSHN R VPDNX POHF]QHM F]HNRODG\
1LH]DSRPQLDQ\ Z\ERURZ\ VPDN F]HNRODGRZ\ JZDUDQWXMH VSHFMDOQLH 6]XNDM QDV Z VNOHSLNDFK V]NROQ\FK
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VLHUSQLD URNX '] 8 ] U SR] Z VSUDZLH ĝURGNµZ VSRľ\ZF]\FK
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&KUXSNL NXNXU\G]LDQH
R VPDNX 7UXVNDZNRZ\P
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FKUXSHN NXNXU\G]LDQ\FK RUD] ]QDNRPLW\ QDWXUDOQ\ VPDN WUXVNDZNL
: UH]XOWDFLH SRZVWDĄD SU]HNÇVND NWµUHM QLH RSU]H VLÛ ľDGHQ ĄDVXFK
=DSUDV]DP\ GR ]DNXSµZ ]D
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3DOXV]NL NXNXU\G]LDQH SRVLDGDMÇ WH VDPH ZDORU\ RGľ\ZF]H FR NODV\F]QH
FKUXSNL OHF] LFK Z\MÇWNRZ\ NV]WDĄW MHVW EDUG]LHM SU]\MD]Q\ GOD G]LHFL NWµUH
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1DV]D RIHUWD REHMPXMH
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1LH]DSRPQLDQ\ Z\ERURZ\ VPDN F]HNRODGRZ\ JZDUDQWXMH VSHFMDOQLH
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