4 Proyeccion de Utilidades

 

XNþo\

XCsmr`kn cf tufo icf iomulcbo\ XCsmr`kn cf suktufo icf iomulcbo\ XCsmr`kn nquì ubn icsmr`pm`ýb krcvc icf iomulcbo. Borlnflcbc, ubn icsmr`pm`ýb krcvc cs ub rcsulcb moro icf mobcb`io icf iomulcbo. Csmr`kn nquì ubn icsmr`pm`ýb krcvc icf iomulcbo. Borlnflcbc, ubn icsmr`pm`ýb krcvc cs ub rcsulcb moro icf mobcb`io icf iomulcbo.\

Anriuþo XCsmr`kn cf bolkrc ic fn molpnþìn\ X]cfcmm`obcc fn dcmjn\ X]cfcmm`ob

 

9.> loicfo mvu Cf nbîf`s`s moso-vofulcb-uf`ini (MTS) proporm`obn ubn v`s`ýb bnbm`crn pnborîl`mn icf promcso ic pfnbcnm`ýb. Cf àrl`bo MTS nbnf`zn cf molpornl`cbo ic fos mosos onfcs y fos `barcsos ic opcrnm`ýb, molo mobscmucbm`n ic mnlk`os quc omurrcb n b`vcf ic proiumos, prcm`o ic vcbn, mosos vnr`nkfcs o mosos eos. Fn fcrn ¨T¨ por vofulcb sc rccrc n dnmorcs rcfnm`obnios mob fn proiumm`ýb molo sob5 ub`inics cfnkornins o ub`inics vcbi`ins8 vcbi`ins8 por fo quc pnrn cf mnso, fos mnlk`os n b`vcf ic `barcsos y mosos sura`rîb por vnr`nm`obcs õb`mnlcb õb`mnlcbc c cb cf b`vcf ic proiumm`ýb. FN WFNBCNM@OB IC SY@F@INIC] P FN [CFNM@OB MO]YO--TOFSLCB--SY@F@INI5 Cf loicfo moso-vofulcb-uf`ini nyuin n fn nil`b`srnm`ýb pnrn iccrl`bnr fns nmm`obcs quc sc ickcb olnr mob fn bnf`ini ic foarnr m`cro okecvo, quc cb cf mnso ic fns clprcsns mob bcs ic fumro, cs ffnlnin uf`ini o rcsufnio. Fns uf`inics ickcrìnb scr sum`cbcs pnrn rclubcrnr nf mnp`nf `bvcrio cb fn clprcsn. Fn dorln ic mnfmufnr cf vofulcb ic vcbns bcmcsnr`o pnrn nfmnbznr ub iccrl`bnio rcsufnio cs s`lpfc5 Sb`inics por vcbicr < Mosos eos + Sf`ini icscnin  Lnracb ic mobr`kum`ýb ub`nr`o Nbîf`s`s lnra`bnf Yàmb`mn knsnin cb fn mobr`kum`ýb lnra`bnf8 sc knsn cb fn mobr`kum`ýb quc in mnin nrtmufo n fn uf`ini bnf ic fn clprcsn. Csui`n fn `bcrrcfnm`ýb quc cx`sc cbrc = dnmorcs dubinlcbnfcs, quc iccrl`bnb fos kcbcm`os5 >. Wrcm`o ic vcbn (s`b `lpucsos) ;. Moso ic scrv`m`os, molcrm`nf, nil`b`srnvo y bnbm`cro. =. Tofulcb ic proiumm`ýb Cf prcm`o ic vcbn cs `aunf nf moso onf icf proiumo lîs fn anbnbm`n. Wrcm`o ic Tcbn < Moso Yonf ub`nr`o + Sf`ini Fn cmunm`ýb dubinlcbnf pnrn iccrl`bnr fn uf`ini bcn cs5 KB < {(TTu ” MTu) x ^} ” MD KB < Sf`ini lcbsunf  TTu < Wrcm`o ub`nr`o ic vcbn MTu < Moso vnr`nkfc (i`rcmo) por ub`ini MD < Mosos eos o pcr`ýi`mos por lcs ^ < Mnbini ic ub`inics vcbi`ins

 

Fn rcfnm`ýb prcm`o-moso-vofulcb cs fn knsc icf pfnbcnl`cbo ic uf`inics y mobrof ic moso cb cf s`scln ic moso i`rcmo csîbinr. Fn iccrl`bnm`ýb ic csns rcfnm`obcs mob cf uso ic fn àmb`mn ffnlnin uf`ini/vofulcb (S/T) cs s`lpfc y i`rcmn, porquc prci`mc fns duurns uf`inics cb fns mobi`m`obcs cx`scbcs y n pfnbcnrfns lci`nbc lceorcs opcrnm`obcs. Cf nbîf`s`s MTS cs ub `bsrulcbo õf pnrn fn pfnbcnm`ýb ic mosos. Wucic proporm`obnr inos sokrc fos `barcsos quc i`dcrcbcs csrumurns ic mosos s`ab`mnb pnrn ub bcaom`o. ]upucsos cb MTS.- Cf nbîf`s`s sc knsn cb fos s`au`cbcs supucsos5 supucsos5 Fos mosos onfcs pucicb i`v`i`rsc cb ub molpobcbc eo y ubo vnr`nkfc rcspcmo ic ub dnmor rcfnm`obnio mob fn proiumm`ýb. Cf molpornl`cbo ic fos `barcsos onfcs ic fos mosos onfcs cs f`bcnf cb rcfnm`ýb mob fns ub`inics ic proiumm`ýb . Bo cx`sc `bmcriulkrc rcspcmo ic fos inos ic mosos, `barcsos y mnbinics ic proiumm`ýb uf`znin. Cf nbîf`s`s mukrc ub sofo proiumo o supobc quc ubn lczmfn ic vcbns ic proiumos pcrlnbcmc mobsnbc, `bicpcbi`cbc `bicpcbi`cbc icf mnlk`o icf vofulcb onf ic vcbns. Yoios fos `barcsos y mosos pucicb narcanrsc y molpnrnrsc s`b mobs`icrnr cf vnfor icf i`bcro cb cf clpo. Wfnbcnm`ýb ic mosos y MTS.- Cf nbîf`s`s MTS cs ub `bsrulcbo õf pnrn fn pfnbcnm`ý pfnbcnm`ýb b ic mosos. Wucic proporm`obnr inos sokrc fos `barcsos quc i`dcrcbcs csrumurns ic mosos s`ab`mnb pnrn ub bcaom`o. Cdcmo icf jor`zobc ic clpo.- Fos mosos bo s`clprc sc mfns`mnb molo eos y vnr`nkfcs, porquc l`cbrns lîs moro scn cf jor`zobc ic clpo pfnbcnio, scrî lnyor cf pormcbnec ic mosos onfcs quc sc mobs`icrc molo eos. Wnrn iccrl`bnr s` fos mosos sob rcnflcbc eos icpcbic cb arnio ic fn foba`ui ic jor`zobc jor`zobc icf clpo cb mucsýb

 

9.; nbîf`s`s ic scbs`k`f`ini icf loicfo Cf nbîf`s`s ic scbs`k`f`ini cs ubn àmb`mn quc cxnl`bn molo mnlk`nrî ub rcsufnio s` bo sc nfmnbznb fos inos prcv`sos o s` mnlk`n nfaõb supucso sukynmcbc. Sbn jcrrnl`cbn icf nbîf`s`s ic scbs`k`f`ini cs cf lnracb ic scaur`ini, scaur`ini, quc cs cf cxmcso ic `barcsos prcsupucsnios prcsupucsnios sokrc fos `barcsos icf pubo ic cqu`f`kr`o. Fn `bmcriulkrc cs fn pos`k`f`ini ic quc ubn mnbini scn i`dcrcbc ic ubn mnbini cspcrnin. Fn mobsrumm`ýb ic ub loicfo pnrn fn oln ic icm`s`obcs mobsn ic m`bmo pnsos5 `icbmnr cf mr`cr`o ic scfcmm`ýb ic qu`cb oln icm`s`obcs. `icbmnr fn scr`c ic nmm`obcs mobs`icrnins `icbmnr fn scr`c ic cvcbos quc pucicb omurr`r ns`abnr proknk`f`inics pnrn fn omurrcbm`n ic mnin cvcbo `icbquc fn scr`c ic rcsufnios pos`kfcs quc icpcbicb ic nmm`obcs y cvcbos cspcmìmos Lczmfn ic vcbns.- Fn lczmfn ic vcbns cs fn molk`bnm`ýb rcf rcfnvn nvn ic fos vofõlcbcs ic proiumos o scrv`m`os quc mobsuycb fns vcbns onfcs. ]` mnlk`n fn lczmfn, fos cdcmos cb cf `barcso ic opcrnm`ýb icpcbicrîb ic fn dorln cb quc jnyn mnlk`nio fn proporm`ýb or`a`bnf ic proiumos ic kneo o nfo lnracb ic mobr`kum`ýb. mobr`kum`ýb. Lnracb ic mobr`kum`ýb < `barcsos `barcsos ” mosos quc vnrìnb rcspcmo ic ub dnmor rcfnm`obnio mob cf proiumo Lnracb kruo < `barcsos ” mosos ic k`cbcs k`cbcs vcbi`ios Cb cf scmor molcrm`nf, fn i`dcrcbm`n i`dcrcbm`n cbrc cf lnracb kruo y lnracb ic mobr`kum`ýb , csî cb quc cf lnracb ic mobr`kum`ýb sc mnfmufn icspuàs ic fn iciumm`ýb ic oios fos mosos vnr`nkfcs, l`cbrns cf lnracb kruo sc mnfmufn icium`cbio icium`cbio cf moso ic fos k`cbcs vcbi`ios ic fos `barcsos. Cb cf scmor ic lnbudnmurn, lnbudnmurn, fns ios îrcns ic i`dcrcbm`n i`dcrcbm`n sob fos mosos eos ic ic dnkr`mnm`ýb y fos mosos vnr`nkfcs quc bo sob ic dnkr`mnm`ýb. Nlkos, cf lnracb ic mobr`kum`ýb y cf lnracb kruo pucicb cxprcsnrsc molo onfcs, mnbinics por ub`ini o molo pormcbnecs. Fos mosos eos ic dnkr`mnm`ýb bo sc iciumcb ic fns vcbns munbio sc mnfmufn cf lnracb ic mobr`kum`ýb, pcro s` munbio sc mnfmufn cf lnracb kruo. Fos mosos vnr`nkfcs bo ic dnkr`mnm`ýb sc iciumcb ic fns vcbns munbio sc mnfmufnb fos lîracbcs ic mobr`kum`ýb, pcro bo sc iciumcb munbio sc mnfmufn cf lnracb kruo.

Cf pormcbnec ic lnracb mobr`kum`ýb cs cf lnracb ic mobr`kum`ýb onf i`v`i`io cbrc fos `barcsos. Cf pormcbnec ic moso vnr`nkfc cs cf onf ic mosos vnr`nkfcs i`v`i`io cbrc fos `barcsos.

 

[CFNM@ÝB [CMÌW[OMN [CMÌW[OMN IC W[CM@O] MO]YO] MO]YO] P TOFSLCB Kneo cf s`scln mobvcbm`obnf ic mosos por nksors`ýb, fos mosos eos sob molk`bnios mob fos mosos vnr`nkfcs o i`rcmos y ffcvnios n mosos ub`nr`os ub`nr`os pnrn ub vofulcb ic proiumm`ýb inio. Wor mnusn icf mnrîmcr ic fos fos mosos eos bo cx`sc ubn uf`ini bcn sokrc mnin ub`ini ub`ini proium`in proium`in y vcbi`in. Fn cmunm`ýb dubinlcbnf pnrn iccrl`bnr fn uf`ini bcn cs5 W < (]-I) ” D W < uf`ini lcbsunf  < ]uln ic oins fns ub`inics vcbi`ins ] < prcm`o ub`nr`o ic vcbn I < moso vnr`nkfc o i`rcmo por ub`ini ub`ini D < ansos eos o pcr`ýi`mos pcr`ýi`mos por lcs Fn rcfnm`ýb prcm`o-moso-vofõlcb prcm`o-moso-vofõlcb cs fn knsc icf pfnbcnl`cbo pfnbcnl`cbo ic uf`inics y mobrof ic moso cb cf s`scln ic moso i`rcmo snbinri. Fn iccrl`bnm`ýb ic csns rcfnm`obcs mob cf uso ic fn àmb`mn ffnlnin uf`ini/vofõlcb (S/T) cs s`lpfc y i`rcmn, porquc prci`mc fns duurns uf`inics cb fns mobi`m`obcs cx`scbcs y n pfnbcnrfns lci`nbc lceorcs opcrnm`obcs. Cf arîmo ic pubo ic cqu`f`kr`o S/T scþnfn fns m`drns opcrnvns opcrnvns y proporm`obn ubn mfnrn pcrspcmvn ic fn csrumurn csrumurn ic fns anbnbm`ns ic fn clprcsn. Wor su s`lpf`m`ini nlk`àb sc uf`zn molo lci`o ic nuoi`nabýsmo (probosmnr lnfcs ic fos bcaom`os) y mobrof ic fn clprcsn. 9.=Wubo ic Cqu`f`kr`o Lufproiumo /scrv`m`o Cf Wubo ic Cqu`f`kr`o ic ub k`cb o scrv`m`o, csî inio por cf vofulcb ic vcbns pnrn cf munf, fos `barcsos onfcs sob `aunfcs n fos mosos onfcs. Cs icm`r, cf b`vcf ic nmv`ini (^) Wubo ic Cqu`f`kr`o Loboproiumo Mîfmufo icf Wubo ic Cqu`f`kr`o cb ub`inics proium`ins (^) Moso Yonf (MY)5 MY < MD + MT MY < MD + MTLc. ^

(>)

 

@barcso Yonf (@Y)5 csî inio por cf proiumo ic fn mnbini (^) por cf prcm`o ub`nr`o (p) (kneo cf supucso ic quc oio fo proium`io cs vcbi`io). @Y < p . ^

(;)

Cb cf Wubo ic Cqu`f`kr`o sc ickc mulpf`r quc fos Mosos Yonfcs (MY) scnb `aunfcs n fos @barcsos Yonfcs (@Y)5 MY < @Y Fucao, `aunfnbio (>) y (;), cbclos5 MD + MTLc . ^ < p . ^ (=) ic iobic5

Ceclpfo Sbn clprcsn lnbudnmurcrn icscn mnfmufnr su pubo ic cqu`f`kr`o cb cf prcscbc nþo, pnrn fo munf mobomc sus mosos eos, quc sob ic $>7.777, sus mosos vnr`nkfcs, quc sob ic $;,3 por ub`ini proium`in y su prcm`o ic vcbn quc cs ic $9,3 por ub`ini vcbi`in. Fucao, pnrn mnfmufnr cf pubo ic cqu`f`kr`o cb ub`inics (WCu) scrî5 WCu < >7.777 / (9,3 - ;,3) < >7.777 / ; WCu < 3.777 ub`inics < ^  Cs icm`r, pnrn poicr mukr`r sus mosos (eos y vnr`nkfcs), fn clprcsn ickcrî proium`r y vcbicr 3.777 ub`inics. Wor cbm`ln ic csc vnfor molcbznrî n cbcr anbnbm`ns.

 

Mîfmufo icf Wubo ic Cqu`f`kr`o cb ub`inics lobcnr`ns (Tcbns) ]c okcbc icf proiumo icf WCu por cf prcm`o ic vcbn ub`nr`o (p) icf k`cb o scrv`m`o5 WC$ (Tcbns) < Wcu*p

(3)

Icf ceclpfo nbcr`or5 WC$ (Tcbns) < 3.777 ub`inics . 9,3$/ub`ini WC$ (Tcbns) < ;;.377$ Wubo ic Cqu`f`kr`o Lufproiumo Cb fn lnyorìn ic fos mnsos, fns clprcsns proiumcb lîs ic ub proiumo (lufproiumo), fos quc cbirîb prcm`os ic vcbn y mosos vnr`nkfcs i`dcrcbcs. Cf pubo ic cqu`f`kr`o cb ub`inics (WCu) pnrn mnin ubo ic csos proiumos scaurnlcbc scrî i`sbo. Cb cf mnso ic quc scnb ub`inics joloaàbcns cbobmcs poirclos mnfmufnr cf WCu (^), s` mobomclos cf pormcbnec ic vcbns cb ub`inics ic mnin proiumo rcspcmo icf onf ic ub`inics vcbi`ins. Fucao scrìn5 έ (p.` ” MTLc.`) Z` < MD iobic mnin Z` rcsufnrî cf WCu pnrn mnin proiumo y vcbirî inio por cf proiumo icf WCu mobeubo por cf % ic pnrm`pnm`ýb ic csc proiumo cb cf onf ic fns vcbns.

 

]` fns ub`inics ic fos proiumos bo sob joloaàbcns, cbobmcs ickclos pobicrnr fn mobr`kum`ýb ic mnin proiumo cb fns vcbns onfcs cb ub`inics lobcnr`ns. Cs icm`r, cb fn cxprcs`ýb (4), cf bulcrnior (MD) bo mnlk`nrî, l`cbrns quc cb cf icbol`bnior, ickclos jnmcr fn suln ic fos proiumos ic fn cxprcs`ýb (> ” MTLc/p) pnrn mnin proiumo, lufpf`mnin por cf pormcbnec ` quc rcprcscbnb fns vcbns ic csc proiumo cb ub`inics lobcnr`ns mob rcspcmo nf onf ic vcbns ic oios fos proiumos Fn dýrlufn n uf`znr scrî5

Cb fn munf fos ‖`b“ rcprcscbnb fos pormcbnecs ic vcbns cb $ ic mnin ubo ic fos proiumos rcspcmo icf onf ic vcbns. Ceclpfo Fn molpnþìn ‖Z“, ].N., quc cfnkorn fos proiumos5 N, K y M, rcporn fn s`au`cbc `bdorlnm`ýb pnrn cf lcs ic naoso ic ;7>Z

Iccrl`bnlos cf promcbnec ic vcbns ic mnin proiumo, mob rcspcmo nf onf ic vcbns

 

mnfmufnlos fn mobr`kum`ýb lnra`bnf ic mnin proiumo y fo lufpf`mnlos por fn pobicrnm`ýb

Cf pubo ic cqu`f`kr`o cb ub`inics lobcnr`ns, rcsufnrî ic i`v`i`r fos mosos eos cbrc cf pormcbnec ic mobr`kum`ýb lnra`bnf

Cf onf ic vcbns ic cqu`f`kr`o sc i`v`ic cbrc mnin proiumo, ic nmucrio n fn pobicrnm`ýb8 y sc mnfmufn fns ub`inics lìb`lns, i`v`i`cbio fns vcbns cbrc cf prcm`o ub`nr`o

9.9

 

Cf mostc ic oportub`ini cs cf mostc ic fn nftcrbnt`vn n fn quc rcbubm`nlos munbio tolnlos ubn ictcrl`bnin icm`s`ýb, `bmfuycbio fos kcbcdm`os quc poirìnlos jnkcr oktcb`io ic jnkcr csmoa`io fn opm`ýb nftcrbnt`vn. Wor fo tnbto, cf mostc ic oportub`ini sob nqucffos rcmursos quc icenlos ic pcrm`k`r o quc rcprcscbtnb ub mostc por cf jcmjo ic bo jnkcr cfca`io fn lceor nftcrbnt`vn pos`kfc, munbio sc t`cbcb ubos rcmursos f`l`tnios (acbcrnflcbtc i`bcro y t`clpo). Cf tàrl`bo mostc ic oportub`ini tnlk`àb cs icbol`bnio molo ‖cf vnfor ic fn lceor opm`ýb bo scfcmm`obnin“. Cb bucstrn v`in tcbclos quc tolnr icm`s`obcs mobstnbtclcbtc pnrn munfqu`cr nsubto, lîs s` mnkcb fos rcfnm`obnios mob cf i`bcro. Wor ceclpfo, `lna`bclos quc tcbclos >7 curos y tcbclos vnr`ns nftcrbnt`vns pnrn anstnrfos (`r nf m`bc, inr ub pnsco por cf pnrquc y njorrnrfos, mcbnr ducrn…), cf mostc ic oportub`ini vn n scr cf kcbcm`o quc bos poirìn rcportnr fn nftcrbnt`vn n fns quc jclos rcbubm`nio, dubinlcbtnflcbtc fn ic lnyor vnfor. Fn tcorìn sokrc cf mostc ic oportub`ini bos i`mc quc s` jclos cfca`io `r n vcr ubn pcfìmufn, s`au`cbio mob cf ceclpfo nbtcr`or, y l`cbtrns fn cstnlos v`cbio bo bos austn, pcbsnbio cmobýl`mnlcbtc cs lceor `rsc icf m`bc y nprovcmjnr cf t`clpo i`sdrutnbio otrn ic fns nftcrbnt`vns, yn quc cf i`bcro anstnio cb cf m`bc bo fo vnlos n rcmupcrnr, cs i`bcro quc yn cstî anstnio. Wcro yàbiobos, nf lcbos poirclos nprovcmjnr cf t`clpo cb jnmcr otrn mosn, molo inr ub pnsco por cf pnrquc. Cf mostc ic oportub`ini sc ut`f`zn cb cf îlk`to bnbm`cro y cmobýl`mo molo ubn kucbn dorln ic cvnfunr y munbt`mnr `bvcrs`obcs munbio tcbclos vnr`ns nftcrbnt`vns pos`kfcs y ubos rcmursos f`l`tnios. Cb cf mnlpo clprcsnr`nf cf mostc ic oportub`ini supobc ub cfclcbto `lportnbtc okecto ic cstui`o yn quc supobc ubn ic fns lceorcs dorlns ic scfcmm`obnr `bvcrs`obcs, bo por fn rcbtnk`f`ini n morto y lci`o pfnzo, s` bo sokrc toio porquc cf mostc ic oportub`ini sc knsn cb fn rcbtnk`f`ini duturn (kcbcm`os nportnios) quc poirî rcportnr mnin `bvcrs`ýb.

Cf mostc ic oportub`ini cb d`bnbzns Cb bnbzns clprcsnr`nfcs, cf ffnlnio mostc ic oportub`ini ic fn cstrumturn cmobýl`mn y bnbm`crn, jnmc rcdcrcbm`n n fos rcmursos quc poirìnlos anbnr s` pus`àsclos n trnknenr toio bucstro i`bcro. Wor ceclpfo, cf i`bcro quc tcbanlos cb cf knbmo cb ubn mucbtn s`b rclubcrnm`ýb, poirìnlos tcbcrfo cb

 

ub icpýs`to nf =%, cstc =% sokrc cf totnf ic bucstro i`bcro scrìn cf mostc ic oportub`ini. Ynlk`àb pucic npf`mnrsc n fn ut`f`znm`ýb fos rcmursos prop`os icf pns`vo ic ubn clprcsn, yn quc s` cb fuanr ic ut`f`znr cstos rcmursos y pntr`lob`o bcto ut`f`zîrnlos icuin, cf npnfnbmnl`cbto bnbm`cro rcsuftnbtc icf uso ic icuin poirìn jnmcr quc s`b ut`f`znr bucstros rcmursos, oktuv`àrnlos cf l`slo kcbcm`o.

Ceclpfos ic mostc ic oportub`ini ]` tcbclos >77.777₦ y qucrclos `bvcrt`rfos, `lna`bclos quc poiclos lobtnr ubn drutcrìn o `bvcrt`r cb >;.377 nmm`obcs ic [cpsof, quc mot`znb n :₦ cb fn Kofsn ic Lnir`i. Wucsto quc bo cbtcbiclos lumjo ic lcrmnios bnbm`cros, icm`i`los icmnbtnrbos por fn drutcrìn, quc nf mnko ic ; nþos bos rcportn ;7.777₦ ic kcbcm`o, l`cbtrns quc cb csos l`slos ios nþos fns nmm`obcs ic [cpsof oportub`ini scrìn5 jnb nsmcbi`io jnstn fos >>₦. Cb cstc mnso cf mostc ic Kcbcm`os drutcrìn5 ;7.777 Kcbcm`os nmm`obcs [cpsof (icscmjnin)5 (>>-:) x >;.3775 =1.377₦ Mostc ic oportub`ini5 =1.377-;7.7775 >1.377₦ curos. Otro ceclpfo ic mostc ic oportub`ini, cs nf quc sc cbdrcbtn ub cstui`nbtc fn jorn ic csmoacr s` cstui`nr o trnknenr. ]upobanlos quc munbio tcrl`bn fn mnrrcrn pucic csmoacr cbtrc rcnf`znr ub lîstcr ic ios nþos o trnknenr cb fn t`cbin ic su tìo, iobic fc odrcmcb >;37 curos nf lcs. ]` icm`ic cstui`nr cb fuanr ic trnknenr, cf mostc ic oportub`ini ic rcnf`znr cf lîstcr ic ; nþos cb vcz ic trnknenr cs ic =7.777 curos, cf mostc ic fos >;37 curos nf lcs iurnbtc ios nþos. 9.3 pr`bm`pnhcs icm`m`obcs n moro pfnzo Icm`s`obcs i`nr`ns ic prcm`os.prcm`os.- Sb làoio pnrn csnkfcmcr cf prcm`o scrìn i`v`i`r i`v`i`r cf moso i`rcmo cslnio icf ìcl muyo prcm`o sc qu`crc enr por cf molpfclcbo ic fn rcfnm`ýb uf`ini/vofõlcb ic fn fìbcn ic proiumo. Fos sokrcprcm`os quc olnb cb mucbn nlk`àb fn csrumurn ic icsmucbos sob por fo acbcrnf mnfmufnio prcv`nlcbc, ic lnbcrn quc cf prcm`o ic vcbn suacr`io sc iccrl`bn lufpf`mnbio cf moso i`rcmo por cf sokrcprcm`o morrcspobi`cbc. ]` csc prcm`o bo

 

rcspobic n su rnzýb, b` rcporn ub nicmunio rcorbo ic mnp`nf, sc csui`nrî fn loi`mnm`ýb ic su i`scþo o su cf`l`bnm`ýb ic fn fìbcn. Icm`s`obcs ic dnkr`mnr dnkr`mnr o molprnr.- Lumjns molpnþìns quc bo mucbnb mucbnb mob mosos i`rcmos uf`znb cslnm`obcs acbcrnfcs sokrc mosos quc nrroenb pàri`ins, y orns mobs`icrnb quc s` cf prcm`o ic molprn cs `aunf nf moso ic dnkr`mnm`ýb, cf proiumo sc ickcrî cfnkornr cb vcz ic niqu`r`rfo nducrn. Fns icm`s`obcs sokrc proiumm`ýb sc knsnb cbrc fn molpnrnm`ýb icf nulcbo ic fn uf`ini y cf mnp`nf clpfcnio, l`cbrns quc fn icm`s`ýb bnbm`crn csî dubinlcbnin cb cf ìbi`mc ic fns opcrnm`obcs ic mnrîmcr bnbm`cro. Cf pr`lcr pnso mobs`sc cb iccrl`bnr s` fn cxpnbs`ýb ic fn pfnbn vn n nulcbnr o bo fn rcmupcrnm`ýb icf mnp`nf quc sc jn `bvcrio. Fucao quc cf proarnln ic cxpnbs`ýb sc jnyn nproknio icf pcrsobnf àmb`mo ic dnkr`mnm`ýb, sc mobdcmm`obnrîb mobdcmm`obnrîb fos pfnbcs bnbm`cros. (mnp`nf bcmcsnr`o pnrn ffcvnrfo n mnko) Cvnfunm`ýb ic bucvos bucvos proiumos o promcsos.promcsos.- ]c cdcmõnb por lci`o lci`o ic fos làoios ic dnkr`mnr dnkr`mnr o molprnr. ]c ickc cbcr cb mucbn fn iccrl`bnm`ýb ic fos mosos eos, `bi`mnbio cf vofulcb ic vcbns ic proiumos y fn proiumm`ýb proycmnin n nfmnbznr. Icm`s`obcs pnrn cf`l`bnr cf`l`bnr proiumos cb icsuso.icsuso.- L`cbrns fos proiumos mobr`kuynb mobr`kuynb n fn uf`ini, cs luy i`m`f mobnr mob fn nproknm`ýb ubîb`lc ic fos cecmuvos ic vcbns pnrn rcrnrfos ic fn fìbcn. Munbio cf pnbornln ic pos`k`f`inics ic ub proiumo proiumo bo scn mfnro, ickc pfnbcnrsc su rcclpfnzo mob ub ìcl quc cban pocbm`nf duuro ic uf`inics y ic mrcm`l`cbo. Fn mfnvc ic ffcvnr n mnko ubn susum`ýb sc rciumc n cbcr yn f`so ub proiumo supfcbc u oro icsbo pnrn cf mnp`nf f`kcrnio, n b ic quc cf rcsufnio quc sc proiuzmn cb fns uf`inics pucin mobomcrsc prcv`nlcbc, prcv`nlcbc, molo rcsufnio ic i`mjo rcclpfnzo