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à laok* hko _q]hao oa àpaniej]j iaè]jpa lnqa^]o à h]^kn]pknek _kj ikàhko à jÉ_hak
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h]lkpaj_e]àajpn]`]mqaoa]ok_e]j_kjh]ajancÄ]àjpnkàh_]ilki]cj~pe_kajahjÉ_hak,
Bh naopk oa kôanr] _kik lkpaj_e] na]_per] mqa oa nah]_ekj] _kj ah ]hi]_~j ajanc~pe_k àh
_]ilki]cj~pe_k,Bop]lkpaj_e]na]_per]jkoaèoel]ajahjÉ_hak*oejkmqah]bqajpaàat_e+
p]_eÇjh]]^]opa_au]ôknâài]jan]_Ä_he_],
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àh]hauàC]n]`]u&a_q]_eÇj /,04'oakôanr]mqahko_]ilkoi]cj~pe_koàr]ne]_eÇjpai+
= ; I ãM N E H , =ìZl`kfjd Xêuk`Zfjp d Xk\i`Xc\j d Xêuk`Zfj
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lkn]hlnk`q_ajqj]qiajpkajhko_]ilkoah~_pne_ko,Bji]pane]haoi]cj~pe_koè_dko_]ilko
ah~_pne_konaoqhp]jaj_knneajpaoej`q_e`]o*àjkiej]`]o_kiÉjiajpa_knneajpaoa`ù)h]o_q]hao
_en_qh]jàjpnkàhi]pane]hàhjÉ_haku oaklkjaj]hko_]iêkoajh]àjoe`]`àbhqfkàh
i]pane]h,M]n]_kjpn]nnaop]nah_knnaolkjèajpaaba_pkàoi]cjapev]jpa*h]_knneajpaajahàr]+
j]`k à at_ep]_eÇj àân} ej_naiajp]noa, Aa aop] bkni]* h] _qnr] naoqhp]jpa èj|ie_] ?*E
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deop~naoeol]n]_kjè_ekjaoàr]ne]_eÇjhajp]*]ài}o*aopaaba_pk]qiajp]]hieoikpeailk
mqaoaej_naiajp]h]bna_qaj_e]àat_ep]_eÇj,Bolknaop]n]vÇjmqah]o_]n]_panÄope_]oàhko
]_ankoah~_pne_kor]nÄ]j_kjbna_qaj_e]*lknhk_q]h* hkob]^ne_]jpaocajan]hiajpaoqiejeopn]j
aopa i]pane]h _kj _]n]_panÄope_]o mqa oa aj_qajpn]jàjpnk à h]_]packnÄ] à klan]_eÇj i}o
okhe_ep]`]à_]`]pelkà]_ankajl]npe_qh]n,>`reanp]*lknafailhk*mqahkorkhpo]ilanaonio
àat_ep]_eÇjmqaoaehqopn]jajh]becqn] /,/0oaaola_ebe_]j]qj]bna_qaj_e]à4.Ev,
M]n]na`q_enhkoaba_pkoàh]o_knneajpaoàa`ù*lknhkcajan]h*h]oaopnq_pqn]oi]cj~pe+
_]o oa b]^ne_]j _kj h}iej]o àhc]`]o à i]pane]h i]cj~pe_k, Bop]o dkf]o* mqa oa ]heja]j aj
_knnaolkjàj_e]_kjh]ohÄja]oàh_]ilki]cj~pe_k*oa]Äoh]jqj]àh]kpn]lkniaèkàqj]
_]l]àÇte`kok^naoqooqlanbe_eaokiaè]jpaqj]bej]_]l]à^]njevkaoi]hpa]eoh]jpa,Bopa
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]eoh]jpaejpannqilajh]pn]ua_pkne]àh]_knneajpa9ajpnai}oàhc]`]ooa]jh]oh}iej]o*iajk+
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iajp]noa ]h _q]`n]`k à h] bna_qaj_e] à at_ep]_eÇj u p]iê~j ]h _q]`n]`k àh le_k à h]
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mqaoaiqaopn]ajh]becqn]0,2* qj]at_ep]_eÇjàr]ne]_eÇjpailkn]h_]qo]n}mqaahi]pane]h
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h]mqaoaiqaopn]ajh]becqn] /,/1,
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l]n]qjjerahàbhqfkaola_Äbe_k*h]ol}nè`]olkndeop}naoeo_knnaolkjèajpaookjlnklkn_ekj]+
hao ]h }na]à h]_qnr]à deop~naoeo u ]h rkhqiaj pkp]h àh i]pane]h, >h _kjoeàn]nmqaateopa
l~nè`]àajancÄ]lkn_e_hk*h]l~nè`]àlkpaj_e]lkndeop~naoeoaolnklkn_ekj]h]h]bna_qaj+
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ne]h]oÄ_kikàh]àjoe`]`àbhqfkuàh]bna_qaj_e], Aabkni]d]êpq]h* h]ejbkni]_eÇjà
h]o _]n]_panÄope_]o à h]o l~nè`]o àh jÉ_hak oa lnaoajp]j à i]jan] cn}be_], Pa cn}be_] aj
s]ppo lkn qje`]` à laok _kik bqj_eÇj à h]àjoe`]` à bhqfk9 qoq]hiajpa oa lnk`q_a qj]
b]iehe]à_qnr]ol]n]èbanajpaobna_qaj_e]o,I]becqn]/,/2iqaopn]h]ol~nè`]oàhjÉ_hakM_
l]n]]_ankah~_pne_kJ+3àcn]jkkneajp]`k]4.Ev,
@]oepk`kohkopn]jobkni]`knaouàpaniej]`]ooa__ekjaoàh]oi}mqej]oah~_pne_]oqpehe+
v]ji]pane]hàdkf]oà]_ank*u]mqa~op]olnaoajp]j_kjè_ekjaob]rkn]^haoài]cjapev]_eÇj*
hk _q]h laniepa mqa oa] iajkn h] l~nè`] àh jÉ_hak u mqa h] lania]êhe`]` ]h_]j_a ]hpko
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p]_eÅj àl]np~_qh] aj `kjà hko _neop]hao oa kneajp]j ]h ]v]nl]n] lnk`q_en qj i]pane]h _kj
_]n]_panÄope_]oqjebkniaoajpk`]oèna__ekjao,@kik_kjoa_qaj_e]*hko]_ankoah~_pne_kokneaj+
p]`kolqaàjklan]noa]i}o]hp]oàjoe`]àoàbhqfkmqahko]_ankooejl]npÄ_qh]kneajp]`],
Iko]_ankoah~_pne_koàcn]jkjkkneajp]`koaailha]jaj]lhe_]_ekjaoajh]omqaahbhqfk
jkoecqaqj]pn]ua_pkne]mqalqaàkneajp]noaà]_qan`k_kjh]èna__eÇjàhh]iej]`k*ajh]
mqaqj_kopk^]fkoa_kjoeàn]qjb]_pkneilknp]jpa,Bjaopapelkà]_ankh]ol~nè`]ookjqj
lk_ki]uknaouh]lania]êhe`]àoiq_dkiajknmqaajhko]_ankoàcn]jkkneajp]`k,
@ E @ H K G J - *4
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`]`àbhqfkajah]_ankà? ; /,3 oajà _kpQ*`kjàpq;05Q4.;155n]`-oac,Bh]_ankk_ql].,72àh
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rkhp]fa]lhe_]`k*^&h]_knneajpai}tei]*_'h]_knneajpaàat_ep]_eÇjniou`& h]ol~nè`]oajah jÉ_hak,
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5-i}t;14>rqahp]o-i,>`reanp]mqa*_kikoaaolan]^]*h]lani a]êhe`]`nah]per]l,n;
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/,2 u mqa _knnaolkjà ] qj jerah à bhqfk à /,.Q* ]Éj oecjebe_]per]iajpa i]ukn mqa ah r]hkn à
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.+ = ; I ãM N EH , = ìZ l `kf j d X ^ e u k`Z f j p d X k\ i`X c\ j d X ^ e u k`Z f j
`& I]àjoe`]` àl~nè`]oajah jÉ_hak oa k^peaja à h]becqn] /,/2_ki k M) ; /,0T -gc, Mkn_kjoe+
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àh]_qnr]àdeop~naoeol]n]]_ankJ+3,5>`reanp]mqah]o_qnr]ookjoeieh]naoajj]pqn]hav],
Pejai^]nck*h]_qnr]àdeop~naoeoà>hje_k3oa_]n]_panev]lknqj]hpkr]hknàh]àjoe`]`
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aopapelkài]pane]h*oeh]bii]lhe_]`]*ulkn_kjoa_qaj_e]h]ejpajoe`]`àh_]ilki]cj~pe+
_kE) oana`q_aj]_ank, Pejai^]nck*]lao]nàmqaah]_ankah~_pne_kJ+3_kjcn]jkkneajp]+
`klnaoajp]p]iê~jqj r]hkn]hpkà i]cjapev]_eÇjnai]jajpa&]lnktei]`]iajpaà /,2Q'*
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i]ukn à 53..', I] _kan_epere`]` E_ _knnaolkjà _kj ah r]hkn à h] ejpajoe`]` àh _]ilk
i]cj~pe_k&ah_q]haolnklkn_ekj]h]h]bii'mqaoanamqeanal]n]na`q_enh]àjoe`]`àbhqfk
àhi]pane]h]_ank,
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i]cj~pe_kàjpnkàqj_en_qepki]cj~pe_kaj]qoaj_e]àat_ep]_eÇjatpanj]&_kikah_]okà
h]o_knneajpaoààr]j]`k',BopaaoqjbajÇiajkqoq]hl]n]pk`]lanokj]mqad]u]_khk_]`k
ei]jaoajh]lqanp]à oqnabnecan]`kn* u p]iê~joa]lhe_]ài]jan]]ilhe]ajèolkoeperko
p]hao_kik]hp]rk_aouikpknaoàei}jlani]jajpa,
>hkôanr]nh]becqn]/,/4*l]na_ean]mqap]jpkah>hje_k3_kikah]_ankah~_pne_kJ+3okj
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oaaj r]hknao ]hpko à i]cjapev]_eÇj nai]jajpa, Pej ai^]nck* aop]]lna_e]_eÇj jk ao na]h* hk
_q]hoaàikopn]n}_kjahafailhkmqaoalnaoajp]]_kjpejq]_eÇj,
5M]n]k^pajanqjr]hkn]hpkài ]cjapev]_eÇjnai ]jajpa*h]o_qnr]oàdeop~naoeomqaoaehqopn]jajh]becqn] /,/4

oak^paj`nÄ]joe hkoi ]pane]haooaaopei qh]n]j_kj qj]biioqbe_eajpal]n]]oacqn]nmqaoao]pqn]n]j_ki lhap]i ajpa,
Ik]jpaneknoalnaoajp]_kji}oàp]hhaajh]oa__eÇj /,4,
, )0 CdXe\j g\id Xe\ek\j .,
Mnk`q_pkajanc~pe_k*gG-i 1
Mqjpkàh
lnk`q_pk 3 . - 2 . - 1 . - 0.-
i }tei k
àajancÄ]
- -
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[ ahafai lhk /,7
/ / / h[ [ ,
+
b b,g > -i +3 . +2 . +1 . +0 . +/ . .
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1,6t /.î 2t /.î
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Ab`mjZ -*-2
X$ L \^le[fZlX[iXek\ [\ cXZlimX [\ _`jkui\j`j gXiX; ce `Zf 06 W% j\ ^ l e[ f ZlX[iXek\[\ cXZlimX [\
_`jkui\j`j gXiXXZ\if\ cuZki`Zf F(06 Z$ Zl imX [\ _`jkui\j`jgXiXXZ\if\cuZki`ZfF(0Xld\ekX[fgfi
[\YXaf[\c mXcfi[\ 1) $: gb Xd BcX*%
.- = ; I ãM N E H , = ìZl`kfjd Xêuk`Zfjpd Xk\i`Xc\jd Xêuk`Zfj
@kik oa ehqopn] aj h] becqn] /,/5* qj _en_qepk i]cj~pe_k _kjoeopa aj qj jÉ_hak à ]hp] lania]êhe`]`
&-tìíkk'* qjajpnadeannk_kjhkjcepq`àc :.,0_i*uqj]oa__eÇjài ]pane]hi]cj~pe_k_kjhkjcepq`
hi ; /,. _i, Bh }na] à h] oa__eÇj pn]jorano]h àh jÉ_hak u àh ajpnadeannk ao ecq]h ] > i;>c ; 2 _i 0 ,
@ ]h_qha h] àjoe`]` à bhqfk ?caj ah ajpnadeannk oe ah i]pane]h i ]cj~pe_k ao ]& >hje_k 3 u ^& ]_ank
ah~_pne_kJ+3,
è N g dm \ bz f
]& >h_kjoeàn]nh]lani a]êhe`]` àh jÉ_hak_kik ejbejep]* ao lkoe^ha ecjkn]nE aj ah jÉ_hak, Oa_k+
jkv_]mqah]biimqa]_pÉ]ok^naah_en_qepki]cj~pe_kàh]becqn] /,/5ao_ank*uhklqaàatlnao]n
àh]oecqeajpai]jan]
Q ; . ; E )c) E G i
`kjàE cuEiokjejpajoe`]àoàh_]ilki]cj~pe_kajahajpnadeannkuajahi ]pane]h i]cj~pe_k*

naola_per]iajpa,
A]`k mqa ah bhqfk àân} oan _kjpejqk ] pn]r~o àh _en_qepk i ]cj~pe_k* pajai ko h] oecqeajpa
atlnaoeÇj
9M : > c?o ; >)ï?)ï
`kjà ? c u ? i nalnaoajp]j h]o àjoe`]ào à bhqfk i]cj~pe_k aj ah ajpnadeannk u aj ah i]pane]h
i ]cj~pe_k*naola_per]iajpa,
Bop]oa_q]_ekjao lqaàj naokhranoa l]n]`]nhqc]n]qj]a_q]_eÇj heja]hl]n]?i aj p~niejko
g >
+í kk
ôna]
I J ]pane]h
Ab`mjZ -*- 3
=ìZl`kf d Xêuk`Zf
\cXYfiX[f gXiX \c bh kk
\a\d gcf ,)4) N
, )0 Cd Xe\j g \ id X e \ e k\ j ..
>h naokhran h] a_q]_eÇj l]n] ? i ao lkoe^ha na_kjk_an mqa aj ah _]ok à >hje_k 3* ?)ï u Ei
p]iê~j oa nah]_ekj]j iaè]jpa h] _qnr] à h] becqn] Y+Y3]+ Aa aop] i ]jan]* aop] nah]_eÇj heja]h*
p]iê~jàjki ej]`]h~ja]à_]nc]*oacn}be_]ajh]becqn] /,/4]uh]okhq_eÇjlqaàk^pajanoalkn
iaèkocn}be_ko* h]_q]h`]_kiknaoqhp]`kh]oecqeajpaatlnaoeÇj
?c:?)ï;.,1.Q
^& M]n]k^pajanh]okhq_eÇjl]n]ah ]_ankah~_pne_kJ+3 oalnk_aààh]ieoi]bkni]mqaajah ej_eok

]jpanekn, I] hÄja] à _]nc] p]i ê~j ao h] ieoi ] mqa h] àh ej_eok ]& àê`k ] mqa oa àpani ej]
Éje_]iajpalkni aèkàh]lani a]êhe`]`àhajpnadeannku lknh]obkni]ocaki~pne_]oàh ei }ju
àhajpnadeannk, Mknhkp]jpk* ]l]npenàh]becqn] /,/4_oqnca h]oecqeajpaatlnaoeÇj
?c;1,6t /@Q3Q;.,16c]qoo
aop]a_q]_eÇj`]_ki knaoqhp]`k qjr]hkniq_dki ajknmqaah k^paje`kl]n]ah>hje_k3,
Bh afailhk /,7 iqaopn] mqa ateopa qj] ajknia èbanaj_e] ajpna eko i]pane]hao à ei}j
lani]jajpa &_kj bna_qaj_e] àjkiej]`ko i]pane]hao i]cj}pe_ko `qnko& _kik ah>hje_k 3 u
hkoi]pane]haoi]cj}pe_kooq]rao_kikah]_ankah~_pne_kJ+3,Bop]èbanaj_e]oa^]o]lnej_e+
l]hiajpaajh]ejiajo]èbanaj_e]àoqo_kan_epere`]àoE_+I]_kan_epere`]òaehqopn]_kik
qj]iaè`]àh]i]cjepq`àbiinamqane`]l]n]àoi]cjapev]nahi]pane]h,@kikoakôan+
rÇajahafailhk /,7*p]iê~jaoqj]iaè`]àh]_]l]_e`]`àhi]pane]hl]n]lnk`q_enqjbhqfk
àjpnkàqj_en_qepki]cj~pe_kmqaej_hqu]]hajpnadeannk,Aaaop]i]jan]*oakôanr]mqahko
i]pane]haomqa_kjopepquaj^qajkoei]jaolani]jajpaooa_]n]_panev]jlkn]ilhekor]hknaoà
_kan_epere`]È_&_kjoeàn]^haiajpaqjr]hkni]uknà / g>-i',
Rj]iaè`]Épeh àh]_]l]_e`]`àhkoi]pane]haoàei}jlani]jajpaoaàjkiej]lnk*
`q_pkajanc}pe_ki|teik+ Bop]iaè`]_knnaolkjà]h i]ukn?*Elnk`q_pk%?*E&iet) h]_q]h
]p]Åa ] qj lqjpk aj ah oacqj`k _q]`n]jpa à h] _qnr] à deop~naoeo, @kik oa ]`reanpa aj h]
a_q]_eÇj /,34* ah lnk`q_pk à ? u E lnaoajp] h]o èiajoekjao à h] àjoe`]` à h] ajancÄ]
&fkqhao lkn iapnk _Éê_k', > _kjpejq]_eÇj oa àiqaopn]mqa qj] klan]_eÇj na]hev]`]_kj qj
i]pane]hàei}jlani]jajpaaola_Äbe_kajaopa_]oknaoqhp]nÄ]ajqj rkhqiajiajknàhi]+
pane]hmqaoanamqeanal]n]lnk`q_enqj]àjoe`]`àbhqfk`]`]ajqjajpnadeannk,@kik_kjoa+
_qaj_e]* ahacen ah i]pane]h _kj ah i]ukn r]hkn èolkje^ha àh lnk`q_pk ajanc~pe_k i}teik
lk`nÄ]naoqhp]najah iajknrkhqiajàei}jnamqane`k,
Bjahafailhk /,7*aj_kjpn]ikoqj]atlnaoeÇjl]n]h]àjoe`]`àbhqfkajahajpnadeannk
àh_en_qepki]cj~pe_kàh]becqn] /,/58
%.+24&
Q]iê~joalqaàjkp]nmqah]n]vÇjàh]biièoiejqua]hkh]nckàhei}juahajpnadeannk
oaecq]h]]+ /8
; +/ %.+25&
= ; I ãM N EH , = ìZl`kfj d X^ e u k`Zf jpd Xk\i`Xc\j d Xêuk`Zfj
I] a_q]_eÇj /,36 oa naoqahra l]n] Er u ah naoqhp]`k oa iqhpelhe_]lknåGN _kj ah bej à
k^pajan?c:åGkEc+>hiqhpelhe_]nlknh]a_q]_eÇj /,35 oak^peajah]oecqeajpaatlnaoeÇj
%.+26&
%.+3-&
`kjàahp~niejkSkhi]caoahrkhqiajàhei}j*Skhajpnadêannkaoahrkhqiajàhajpnadeannk*uah
oecjk iajko oqnca àê`k ] mqa ah lqjpk à klan]_eÇj àh _en_qepk i]cj~pe_kEaj ah ei}j
%Ei&aojac]perk,
I]a_q]_eÇj /,4.lnklkn_ekj]ahnaoqhp]`kÇlpeik, Bop]a_q]_eÇj ejè_]mqa l]n]hkcn]n
qj]àjoe`]`àbhqfkb]rkn]^haajahajpnadeannk*ahrkhqiajnamqane`kàhei}jlqaàèoie+
jqenoa aj oq klan]_eÇj d]op] ah lqjpk i}teik lkoe^ha ?*Eàh lnk`q_pk EG?i) ao à_en* ah
lqjpk i}teik àh lnk`q_pk ajanc~pe_k, >ài}o* ajpna i]ukn oa] ah r]hknà aopa lnk`q_pk*
iajknoan}h]èiajoeÇjàhei}jnamqane`kl]n]lnk`q_enh]àjoe`]`àbhqfkaolan]`],Mknhk
p]jpk*ahlnk`q_pkajanc~pe_ki}teikaoqj]qje`]`Épehl]n]iaènahbqj_ekj]ieajpkàqj
i]pane]hi]cj~pe_k*mqa_kjbna_qaj_e]oaqê_]ajh]dkf]à`]pko_kikqj]b ecqn]ài}nepk
k_ebn]l]n]i]pane]haoàei}jlani]jajpa,
>`reanp]mqah]a_q]_eÇj /,37ejè_]mqaaolkoe^ha]h_]jv]nqjr]hkn]hpk*]nêpn]nekàh]
àjoe`]` à bhqfk àh ajpnadeannk* oeilhaiajpa ]h na`q_en ah rkhqiaj àh ajpnadeannk, Bopa
da_dkaob]hokajh]ln}_pe_]àê`k]mqaajh]iaè`]mqa]qiajp]h]àjoe`]`àbhqfkàjpnk
àh _en_qepk i]cj~pe_k* oa ]h_]jv]n} qj lqjpk aj ah _q]h ah i]pane]h àh jÉ_hak i]cj~pe_k
_kiajv]n}]o]pqn]noauh]oqlkoe_eÇjàlania]êhe`]èjbejep]jklk`n}oacqen_kjoeàn}j`k+
oar}he`]*ejr]he`]j`kh]a_q]_eÇj /,37,
>oeieoik* jkpa p]iê~j mqa h]_qnr]àhlnk`q_pk _kjop]jpa ?*Eao qj] del~n^kh], Rj
_kjfqjpkàè_d]odel~n^kh]omqanalnaoajp]jèbanajpaor]hknaoàhlnk`q_pk?*Eoacn}be_]
ajÄ]becqn] /,/3]+>l]npenàaop]o_qnr]o*oakôanr]mqaahlnk`q_pkajanc~pe_ki}teikl]n]
>hje_k3 ao2.gG-i1umqaaopkk_qnna]qjlqjpk?: /,.Qu- - ;+2.g>-i,
Bh_en_qepki]cj~pe_kmqaoaehqopn]ajh]becqn] /,/5 oai kèbe_]ajp]hbkni]mqaah}na]àhajpnadeannk

oana`q_a] > c:0,._i 0*_kikoai qaopn]ajh]becqn] /,/6,@]h_qhaahrkhqiaji Äjei kàhei }jmqaoa
namqeanal]n]hkcn]nqj]àjoe`]`àbhqfkàhajpnadeannkà.,6Q,
è N g dm \ bz f
Bh rkhqi aj i Äjei k àh ei}j oa ]h_]jv]n}lkniaèk à h]klan]_eÇj àh ei }j ] qj lqjpk i }tei k à
lnk`q_pkajanc~pe_ki}teik*_kikoakôanr]ajh]becqn] /,/4],>aopalqjpkàklan]_eÇj*?i; /,.Q
uE i:+2 . g>-i,
, )1 ; g c`Z X Z `x e [ \ d Xk\i`Xc\j gXiX`d Xe\j g\id Xe\ek\j .0
Ab`mjZ -*-4
=ìZl`kfdXêuk`Zf
gXiX\c\a\dgcf ,),+)
Mknhkp]jpk* ]l]npenàh]a_q]_eÇj /,35
:(Ñ 8 : Ñ
; 0 _i0 x [ ' ; /,4_i0
uàh]a_q]_eÇj /,36 oak^peaja h]oecqeajpaatlnaoeÇj
E )Y ~ ?+
I :* c X ; +(
55*e& Y Je
.,6
; ì.,0_i
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; 1,/6_i
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K jg [dê Z h j v \ lb\ g - *4
Oalep]ahafai lhk /,/. p ]oqi ]mqaah}na]àhajpnadeannkoana`qfk]> c : /,6_i 0 p mqah]àjoe`]`à

bhqfkàhajpnadeannkmqaoaaolan]aoà.,4Q,
N g dm \ bz f
SkhqiajiÄjei kl]n]ahei }j;0,36_i 1,
-*2 < K G D> < > Dã I ?@ H < O @ M D< G @ N K<M<

DH < I @ N K @ M H < I @ I O @ N
Ikoafailhko /,7u /,/._kjoeàn]jh]klan]_eÇjàhkoi]pane]haoàei}jlani]jajpa^]fkh]
oqlkoe_eÇjàmqaahlqjpkàklan]_eÇjoalqaààpaniej]noeilhaiajpa_kjk_eaj`kh]cak+
iapnÄ]àh_en_qepki]cj~pe_k]oÄ_kikh]olnklea`]àoàhkoèbanajpaoi]pane]haoeilhe_]`ko
.1 = ; I ãM N E H , = ìZl`kfj d Xêuk`Zfjp d Xk\i`Xc\j d Xêuk`Zfj
/,3
/ / /
+++++++++ K akèi ek+deannk+^knk /,2
ì ,,,,,,,,,,,, >hje_k3 +(-

+++++++++ P]i ]nek+_k^]hpk
+++++++++ >hje_k6 !"
+++++++++ @an}i e_k5
!
.,7
- .,6
*(1
-
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=limXj [\ d X^ e \ k`( e .,/
qXZ`xe gXiX dXk\i`Xc\j e
kiX[`Z`feXc\j [\ `dte / ... + 7 . . +6 . . +5 . . +4 . . +3 . . +2 . . +1 . . +0 . . +/ . . .
g\id Xe\ek\) E)g>-i
ajahieoik,Aada_dk*h]oepq]_eÇjaoi}o_kilhaf],6Bop]oa__eÇj^]o]oqk^faperkaj]ilhe]n
è_dko_kjk_eieajpko,
I] becqn] /,/7 iqaopn] h]o _]n]_panÄope_]o à i]cjapev]_eÇj l]n] ]hcqjko i]pane]hao à
ei}jlani]jajpa,>hje_k3aoqj]]ha]_eÇj]ilhe]iajpaqpehev]`]*ah]^kn]`]à]_ank*jÄmqah*
]hqiejek u _k^]hpk9 bqa ào_qêanp] aj /71/, Bop] ]ha]_eÇj lnaoajp] qj] àjoe`]` à bhqfk
naoe`q]hnah]per]iajpa]hp]*ieajpn]omqa>hje_k6lkoaaqj]àjoe`]`àbhqfknaoe`q]h^]f]u
qj]_kan_epere`]ì}o]hp]aj_kil]n]_eÇj_kjah>hje_k3,Mknhkp]jpk*>hje_k6oaaj_qajpn]
iajkooqfapk]h]àoi]cjapev]_eÇjmqaah>hje_k3, Pejai^]nck*aop]o]ha]_ekjaolnaoajp]j
]hcqj]oàorajp]f]o_kikokjoq^]f]_kan_epere`]ùoqbn]cehe`]ìa_}je_],
Ikoi]pane]hao_an}ie_koàei}jlani]jajpa&p]iê~jàjkiej]`koei|jàbannep]&oa
ah]^kn]j]l]npenàÇte`kàdeannkui]pane]hlqhranev]`kà_]n^kj]pkàaopnkj_ekk^]nek*
lnaoajp]jiajknàjoe`]`àbhqfknaoe`q]haj_kil]n]_eÇj_kjhkoi]pane]haoà>hje_k*lank
lkoaaji]ukn_kan_epere`]`,@kik_kjoa_qaj_e]okjiajkorqhjan]^hao]h]àoi]cjapev]_eÇj,
Bj h]becqn] /,/7 oa iqaopn] h]_]n]_panÄope_]à i]cjapev]_eÇj_]oe _kik qj]hÄja]na_p]à
qjkàaopkoi]pane]hao*hh]i]`k@an}ie_k5,Ikoei]jao_an}ie_kolkoaaj^qaj]olnklea`]+
àoia_}je_]ouoqb]^ne_]_eÇjaoa_kjÇie_]9_kik_kjoa_qaj_e]* oqqpehev]_eÇjajjqiank+
o]o]lhe_]_ekjaoàei}jlani]jajpaao]ilhe],
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M ani ]jajp J ]cjap J ]pane]ho ]j` pdaen> llhe_]pekj) @ ]i ^ne`ca Rjeranoepu Mnaoo* /7729 O,G, M]ngan* >`r]j_ao ej
Mani]jajpJ ]cjapeoi )GkdjTehau$Pkjo* /77.9>,?ko]g*Mani]jajp*J ]cjapA @ Ieja]nJkpkno)@h]naj`kjMnaoo+
Ltbkn`* /7749D ,O, Phai kju>, Ppn]qcdaj*Bha_pne_J ]_dejao)>`èokj+Taohau* /76.* oa__ekjao /,0.+/,039 uQ,G,B,
Jehhan*? nqodhaooMani]jajp*J ]cjap]jÒ ahq_p]j_aJ kpknAnerao)@h]naj`kjMnaoo+L tbkn`* /767* _]lÄpqhk1,
, ) 1 ; g c`ZX Z`x e [\ d Xk\i`Xc\j gXiX`d Xe\j g\id Xe\ek\j .2
Ab`mjZ -*.,
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aj_]nc]`]àh]ah]^kn]_eÇjàaopapelkài]pane]h*h]_q]hailavÇajh]`~_]`]àhkooaoajp]
_kjahào_q^neieajpkàjqarkoi]pane]haoàei}jlani]jajpaàpeann]on]n]o, Bjh]becqn]
/,/7 lkàiko kôanr]n mqa è_dko i]pane]hao lnaoajp]j qj] ]hp] àjoe`]` à bhqfk naoe`q]h
l]na_e`]]h]mqaiqaopn]jhkoi]pane]haoà>hje_k*ieajpn]omqa]hieoikpeailklkoaajqj]
_kan_epere`]ìq_dki]uknuqjlnk`q_pkajanc~pe_ki}teik,Bhi]pane]hàei}jlani]jaj+
paàpeann]n]n]i}ojqarkaoahjakèiek+deannk+^knk,Bopai]pane]hlnaoajp]qj]àjoe`]`à
bhqfk naoe`q]h u qj] _kan_epere`]` ]Éj i]ukn* ]oÄ_kik qj lnk`q_pk ajanc~pe_k i}teik aj
_kil]n]_eÇj_kjahei}jlani]jajpaào]i]nek+_k^]hpk,
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j~pe_k `qnk aj qj jÉ_hak à i]pane]h i]cj~pe_k oq]ra u ]hp]iajpa lania]^ha* ]oÄ_kik qj
àr]j]`kàat_ep]_eÇjàK jÉiankàrqahp]o,@kjnah]_eÇj]h]becqn] /,0/*oa]oqiamqaà
i]jan]eje_e]hahi]pane]hi]cj~pe_k`qnkjklnaoajp]i]cjapev]_eÇj&_knnaolkjèajpa]hlqj+
pk]àh]becqn]'* ]ài}o aoja_ao]nek_kjoeàn]nhkmqak_qnna_q]j`k oa]lhe_]_knneajpa]h
àr]j]`kàat_ep]_eÇj,A]`kmqaoa]oqiamqaahjÉ_haklkoaaqj]lania]êhe`]èjbejep]*ah
Ab`mjZ -*.-
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afadknevkjp]h mqa oa iqaopn]aj h]becqn] /,0/ oa_kjoeàn]p]jpkqj]iaè`]à h]_knneajpa

]lhe_]`]e;E F G K _kikqj]iaè`]àE ajahi]pane]hi]cj~pe_k,
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