November 27, 2022 | Author: Anonymous | Category: N/A
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 lmo 858= 55=|55:
/5>49:5555S 2 9 4 : 9 5
UXO^NOCM DMICO@ X UG LMFWGC CWO^ DG ZGXIWGOX@ ==: ZOCM MFT@FOGTM 5>49:-555 ^M@ UMWC@ ^U XGL-N
Lofbm n`ftm =>=92-2 Lofbm miáfnom 947= - ^p Zocm Xonm
lmo 858=
Mv Ofn`fjod Lofgorm =57: - 5>49:-5=5 - Zc Mft`fogtm - ^m` Umuc` - ^U smcd` gl 8?/54/8= X$ 899,92
5=. N`ftm N`rrgftg g Mpconmé÷gs Mut`lítonms
t`tmc gf gftrmdms (nrïdot`s) X$ 7.24:,25
smcd` gl >=/57/8= X$ >97,:2
gftrmdms (nrïdot`s) Dgpþsot`s g rgngholgft`s Trmfsjgráfnoms, D@Ns g TGDs t`tmc
89% 9>%
=.79:,7: 4.895,84 7.24:,25
smìdms (dïhot`s) N`lprms m dïhot` Trmfsjgráfnoms, D@Ns g TGDs Dïhot`s mut`líton`s gjgtumd`s @utrms smìdms t`tmc
47% =>% >% >?%
8.7?9,2: 9>9,84 =9?,:7 8.8>4,=7 7.942,?5
t`tmc sm smìdms (dïhot`s) X$ 7.942,?5
N`ftm N`rrgftg | L`volgftméî` M < migfd migfdmlgft mlgft`` H < mé÷gs l`volgftmdms pgcm H`csm dg Zm Zmc`rgs c`rgs N < nrïdot` m n`lpgfsmr D < dïhot` m n`lpgfsmr I < mpconméî` pr`irmlmdm U < p`upmfém mut`lítonm
dmtm
dgsnroéî`
8?/54
^mcd` mftgro`r
54/57
Xsb`p-UMI*Lmrlotm-54/57 THO >==:.8::=7-5 Tmr Umn`tg Otmñ MHX/8= Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
Umrm dglmos soicms, n`fsuctg ms F`tms Gxpconmtovms Gxpconmtovms f`jofmc d` gxtrmt gxtrmt``
57/57
5:/57
59/57
Xsb`p-MWT@ U@^T@ -57/57 UOR TXMF^J B@LGX@ 57/57 Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-NM^M DG MZG-5:/57 Xsb`p-DX@IMXOM ^M-5:/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ OFT TGD D 494285
Gstg lmtgromc gstí dosp`fìvgc fm Oftgrfgt 6 L gf gfu N`ftm N`rrgftg 6 Gxtrmt` Lgfsmc
gftrmdms X$ (nrïdot`s)
smìdms X$ (dïhot`s)
smcd` X$ 899,92
=>=,55==5,55 48,55:>,55
=5,55 854,92
>5,55845,55 8=5,55-
=5,55 4=4,92
45,>59:,9?==9,5?
=5,55 8?9,:?
=55,5559:492 H55=M 5>/5:/858= ZHXG=JM5 I5525 O559:492
gxtrmt gxtrmt` ` lgf lgfsmc smc
dmtm
dgsnroéî`
UOR ]X^ UGT^WUGXLMX59/57 Xglufgrméî`/^mcíro` Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ =5/57
==/57
=8/57
=>/57
=4/57
=9/57
=2/57
=?/57
Xsb`p-LGTX@ UWH H-52/57 Xsb`p-@WTCGT HGHO-52/57 Oft UXG-UMI@RRRRR ?7?5 OFT TGD D ??=844 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-M DG LGDGOX-==/57 Xsb`p-NMXX@^^GC -==/57 Xsb`p-XMOM 88 -==/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ THO :852.57424-2 OFT TGD D 789:?8 Oft OTMWNMXD Nrïdot` N`fsoifmd` 5=/ ^giur` Nmrtî` Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ UOR ]X^ UGT^WUGXLMX=>/57 UOR TXMF^J Urosnoc=>/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-N L Z X@DXO-=4/57 Xsb`p-NMXXGJ@WX ^-=4/57 Xsb`p-NM^M MZG^ D-=4/57 Xsb`p-TMTWMUG -=4/57 UOR TXMF^J UXO^NOC=4/57 UOR TXMF^J UXO^NOC=4/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
gftrmdms X$ (nrïdot`s)
smìdms X$ (dïhot`s) 9?,5>-
smcd` X$
?59,7>-
=5,55 =.857,88
=.52:,7:
=>5,758:,??85,55:5,558>9,4?
=5,55 ?:9,9>
=4,=?8,55>,>?=?,72
=5,55 ?42,=7
=52,55==2,5549,75??,7=9,?5>25,?=
=5,55 7:9,84
9>,8=85,55?>,8=
=5,55 494,5>
::,55=92,8=4:,558=,7585,5575,55>2=,9=
=5,55 ?8,>8
Xsb`p-@WTCGT HGHO-=:/57 Xsb`p-UMI*Lmrlotm-=9/57 Oft UMI TOT HMFN@ 55=
:=,:?=>=,5587>,8=-
TO-T^HUMDFDND@ =8>>=9=2: OOfftt NUCMMIX@ Oft GCGTX@UMWC@ ?:45>2=5 Oft FGT ^GXZ N@LWFONMN 5 Oft ^MHG^U 59:=2?2>=5 Oft OTMWNMXD TGD :77.5555UXO^NOCM DMI Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
9>:>=,,4444-=52,>:=84,2879,8892:,=:-
Xsb`p-NMXXGJ@WX L-=2/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-N L Z X@DXO-=?/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
mi 947= nn =>=92-2 lmo 858= 558|55:
>.?2>,55 =.::7,::-
=5,55 =.979,?2
87,?787,?7
=5,55 =.9>8,5>
=>2,55=>2,55
=5,55 =.7?4,5>
85/57
^MCD@ MUCON MWT LMO^
=.7?4,5>
8=/57
^MCD@ MUCON MWT LMO^
=.7?4,5>
84/57
Xsb`p-NMCZ@ MTMNM-8>/57 Xsb`p-NM^M HMWDWN-88/57 Xsb`p-NM^M DG NMX-8>/57
9=,9=>8,2585,5:59:492 H55=M 5>/5:/858= ZHXG=JM5 I5525 O559:492
gxtrmt gxtrmt` ` lgf lgfsmc smc
dmtm
dgsnroéî`
gftrmdms X$ (nrïdot`s)
Xsb`p-GCGF OMFF@F-8>/57 Xsb`p-LMF^O@F RZ -88/57 Xsb`p-UMI*Zontt`r-88/57 Xsb`p-^OL@FG XGIO-8>/57 Xsb`p-TMHAY TMFIG-88/57 Xsb`p-TMTWMUG -88/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ 87/57
8:/57
89/57
82/57
>=/57
mi 947= nn =>=92-2 lmo 858= 55>|55:
smìdms X$ (dïhot`s) 78,5>:8,7>855,55>5,55=7:,55>=,75-
smcd` X$
:7:,:>
Xsb`p-HXOFNMCBM@ -87/57 Xsb`p-NMXC@^ -87/57 Xsb`p-NMXC@^ -87/57 Xsb`p-UMI*JGCOUGT-87/57 TGD 947.555=UM_UMC HX ^G TGD 947.555=UM_UMC HX ^G TGD 947.555=UM_UMC HX ^G Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
=5,55 ?>9,45
==5,552,757,558,555,59 5,=9 49,55 92,8:
Xsb`p-MTGCOG D@^ -8:/57 Xsb`p-^TMXHWNK^ H-8:/57 UOR TXMF^J LMXNGC@8:/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
=5,55 27?,=4
822,5577,?5>?,55>28,?5
Xsb`p-NC@WDYM*KGC-89/57 Xsb`p-UMI*JGCOUGT-89/57 Xsb`p-XMOM 88 -89/57 UOR TXMF^J UXO^NOC89/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
=5,55 49:,84
=75,558,55=>,9447,558=5,94
Xsb`p-DOXCGO DG L-82/57 Xsb`p-UMI*MfmcomJ-82/57 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
=5,55 8:7,75
=4,559?,55?>,55
Xsb`p-XGMC HWXIGX->5/57 Xsb`p-XG]WOFTG UM-8?/57 UOR TXMF^J UXO^NOC>5/57 Otmñ ^`h Lgdodm 52/9> THO >==:.8::=7-5 N/N Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
=5,55 =98,75
74,2>>4,9787,5598,84>25,55 =?>,=2-
=5,55 >:7,:2
^mcd` gl N/N ^mcd` jofmc
=5,55 >97,:2
t`tmcozmd`r dg mpconmé÷gs mut`lítonms fm n`ftm n`rrgftg (=)
gftrmdm X$ (nrïdot`s) 8.292,49
smìdm X$ (dïhot`s) 8.?9:,>9-
(=) @s vmc`rgs rgjgrgftgs m` t`tmcozmd`r dg mpconmé÷gs mut`lítonms fî` gstî` s`lmd`s f` rgsul` dg l`volgftméî` dg n`ftm n`rrgftg.
N`ftm N`rrgftg | Mpconmé÷gs Mut`lítonms Mpcon Mut Lmos (NDH) rgsul` - lás 57/858= bostþron`
profnopmc
hrut` cìquod`
smcd` gl 54/8= X$
vmc`r dm mpconméî` X$
rgfdolgft`s d` lás X$ (=)
rgsimtgs mftgn. g vgfnolgft`s X$
smcd` gl 57/8= X$
8:9,92 8:9,92 8:9,92
8.?9:,>9 8.?9:,>9 8.?9:,>9
5,55 5,55 5,55
8.292,49 8.292,49 8.292,49
>:7,:2 >:7,:2 >:7,:2
(=) Xgfdolgft`s mpurmd`s f` lás, rgjgrgftg ås `pgrmé÷gs rgsimtmdms g m` smcd` rglmfgngftg.
59:492 H55=M 5>/5:/858= ZHXG=JM5 I5525 O559:492
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 lmo 858= 554|55:
l`volgftméî` - mpconmé÷gs/rgsimtgs mftgnopmd`s g vgfnolgft`s
dmtm 54/57 57/57 5:/57 5:/57 59/57
mpconmé÷gs rgmcozmdms X$ 5,55 8=5,55 5,55 5,55 ?59,7>
vmc`r profnopmc rgsimt./vgfn. X$ :>,55 5,55 9,58 ==5,59 5,55
rgfdolgft` hrut` pmi` X$ 5,55 5,55 5,55 5,55 5,55
O@J rgtod` X$ 5,55 5,55 5,55 5,55 5,55
OXXJ rgtod` X$ 5,55 5,55 5,55 5,55 5,55
rgfdolgft` cìquod` pmi` X$ 5,55 5,55 5,55 5,55 5,55
smcd` dg profnopmc mpconmd` X$ 854,92 4=4,92
==55//5577 ==/57 =8/57 =8/57 =>/57 =4/57 =9/57 =2/57 =?/57 =?/57 84/57 87/57 8:/57 89/57 82/57 >=/57 t`tmc
55,,5555 5,55 5,55 5,55 5,55 5,55 =.::7,:: 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 =?>,=2 8.?9:,>9
=42?9,,2:5? =?,72 45,:8 >45,8? ?>,8= >2=,9= 5,55 87,?7 ::,>9 9=,:> :7:,:> 92,8: >28,?5 8=5,94 ?>,55 5,55 8.292,49
55,,5555 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
55,,5555 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
55,,5555 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
55,,5555 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
?:9,9> ?42,=7
N`ftm N`rrgftg | N`lprms m dïhot`
8?9,:? =.857,88
7:9,84 494,5> ?8,>8 =.979,?2 =.9>8,5> =.7?4,5> ?>9,45 27?,=4 49:,84 8:7,75 =98,75 >:7,:2
t`tmc X$ 8.7?9,2:
dmtm 54/57/8= 57/57/8= 5:/57/8= 5:/57/8= =5/57/8= =5/57/8= ==/57/8= ==/57/8= ==/57/8= =4/57/8= =4/57/8= =4/57/8= =4/57/8= =9/57/8= =9/57/8=
bostþron` Xsb`p-UMI*Lmrlotm-54/57 Xsb`p-MWT@ U@^T@ -57/57 Xsb`p-NM^M DG MZG-5:/57 Xsb`p-DX@IMXOM ^M-5:/57 Xsb`p-LGTX@ UWH H-52/57 Xsb`p-@WTCGT HGHO-52/57 Xsb`p-M DG LGDGOX-==/57 Xsb`p-NMXX@^^GC -==/57 Xsb`p-XMOM 88 -==/57 Xsb`p-N L Z X@DXO-=4/57 Xsb`p-NMXXGJ@WX ^-=4/57 Xsb`p-NM^M MZG^ D-=4/57 Xsb`p-TMTWMUG -=4/57 Xsb`p-@WTCGT HGHO-=:/57 Xsb`p-UMI*Lmrlotm-=9/57
vmc`r X$ =>=,55 >5,55 45,>5 9:,9? =>5,75 8:,?? =4,=? 8,55 >,>? ::,55 =92,8= 4:,55 8=,75 :=,:? =>=,55
dmtm 84/57/8= 84/57/8= 84/57/8= 84/57/8= 84/57/8= 84/57/8= 87/57/8= 87/57/8= 87/57/8= 87/57/8= 8:/57/8= 8:/57/8= 89/57/8= 89/57/8= 89/57/8=
bostþron` Xsb`p-GCGF OMFF@F-8>/57 Xsb`p-LMF^O@F RZ -88/57 Xsb`p-UMI*Zontt`r-88/57 Xsb`p-^OL@FG XGIO-8>/57 Xsb`p-TMHAY TMFIG-88/57 Xsb`p-TMTWMUG -88/57 Xsb`p-HXOFNMCBM@ -87/57 Xsb`p-NMXC@^ -87/57 Xsb`p-NMXC@^ -87/57 Xsb`p-UMI*JGCOUGT-87/57 Xsb`p-MTGCOG D@^ -8:/57 Xsb`p-^TMXHWNK^ H-8:/57 Xsb`p-NC@WDYM*KGC-89/57 Xsb`p-UMI*JGCOUGT-89/57 Xsb`p-XMOM 88 --889/57
=2/57/8= =?/57/8= 84/57/8= 84/57/8= 84/57/8=
Xsb`p-NMXXGJ@WX L-=2/57 Xsb`p-N L Z X@DXO-=?/57 Xsb`p-NMCZ@ MTMNM-8>/57 Xsb`p-NM^M HMWDWN-88/57 Xsb`p-NM^M DG NMX-8>/57
87,?7 =>2,55 9=,9= >8,25 85,5:
82/57/8= 82/57/8= >=/57/8= >=/57/8=
Xsb`p-DOXCGO DG L-82/57 Xsb`p-UMI*MfmcomJ-82/57 Xsb`p-XGMC HWXIGX->5/57 Xsb`p-XG]WOFTG UM-8?/57
vmc`r X$ 78,5> :8,7> 855,55 >5,55 =7:,55 >=,75 ==5,55 2,75 7,55 8,55 822,55 77,?5 =75,55 8,55 =>,94
=4,55 9?,55 74,2> >4,97
N`ftm N`rrg N`rrgftg ftg | Nbgqug Gspgnomc Gspgnomc (CO^) Colotg n`ftrmtmd` (CO^) Colotg vmroívgc (CO^ Mdono`fmc) (=) Dmtm dm prþxolm rgf`vméî` d` n`ftrmt` Tmxm dg aur`s f`lofmc voigftg f` pgrì`d` Tmxm dg aur`s gjgtovm lgfsmc Dom dg pmimlgft` Gfnmri`s mtrms`1 Aur`s L`rmtþro`s =% m.l. + 8% luctm* Nust` gjgtov` t`tmc (NGT) (8) Lgfsmc Nust` gjgtov` t`tmc (NGT) (8) Mfumc O@J (Olp`st` s`hrg `pgrmé÷gs jofmfngorms) (8)
X$ 75,55 X$ 5,55 58/5:/8= 9,555% 9.8>>% 58 9,:8% =44,>:% X$ 5,>=
*@s aur`s l`rmtþro`s sgrî` n`hrmd`s f`s nms`s dg mtrms` f` pmimlgft` d` smcd` dgvgd`r. Bmvgrí m n`hrmfém dm luctm dg 8% s`hrg ` smcd` dgvgd`r fm bopþtgsg dg mtrms` f` pmimlgft` f`s nms`s dg nmfngcmlgft`/suspgfsî`/fî` rgf`vméî` d` nbgqug gspgnomc. Mtgféî`1 ` Nbgqug Gspgnomc ï ul colotg dg nrïdot` qug dgvg sgr utocozmd` mpgfms gl sotumé÷gs glgrigfnomos g dg j`rlm tglp`rírom. ^g v`ná prgnosmr dg nrïdot` p`r ul lmo`r pgrì`d`, n`fsuctg `utrms `pé÷gs lmos mdgqumdms gl f`ss`s nmfmos.
59:492 H55=M 5>/5:/858= ZHXG=JM5 I5525 O559:492
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 lmo 858= 557|55:
N`ftm N`rrgftg | Umn`tg dg sgrvoé`s OTMÑ UMN@TG UMN@TG >.5 - LMO@ LMO@/858 /858== l`volgftméî` dm n`ftm
J@CBM NBG]WG GRTXMT@ LÁ^ ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ GRTXMT@ L@ZOLGFT@ ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ ^M]WG^ ]WMC]WGX NMFMC NMORM^ GCGTXÔFON@^ G HMFN@84B@XM^ MIÁFNOM^ (IWONBÁ DG NMORM) TXMF^JGXÁFNOM DG XGNWX^@(GRNGT@ D@N/TGD) ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ N@LWFONMÉÎ@ DOIOTMC LOFBM^ JOFMFNM^
qumftodmdg n`ftrmtmdm 85 2 8 5 +: 4 5 5 +4 =8 4 +2 *** => 8 *** + == O^GFT@ =
qumftodmdg gjgtumdm 5 5 5 5 5 5 5 5 5 5 5 5 5 5 = 5 5 5 5
qumftodmdg gxngdgftg 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5
tmrojm p`r trmfsméî` (X$) 5,55 5,55 5,55 >,>5 8,97 5,55 5,55 >,>5 8,97 5,55 5,55 8,25 >,=5 5,55 5,55 5,55 5,55 5,55 :,??
tmrojms t`tmc (X$) 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
TMXOJM^ DGZODM^ TXMF^MÉ×G^ GRNGDGFTG^
L DGG^FN^@MFCTOD@M^D@GHXG M LGF^MCODMDG T@TMC - ZMC@X DGZOD@
5,55 485,,5555
48,55 N`fdoé÷gs dg Osgféî`1 FÎ@ BÍ N@FDOÉ×G^ UMXM O^GFÉÎ@ F@ L@LGFT@. NM^@ Z@NÁ U@^^WM LMO^ DG WLM O^GFÉÎ@, @^ UGXNGFTWMO^ FÎ@ ^GXÎ@ ^@LMD@^ G @ UGXNGFTWMC DM 8 O^GFÉÎ@ ^GXÍ MUCONMD@ ^@HXG @ ZMC@X D@ UMN@TG AÍ N@F^ODGXMFD@ M = O^GFÉÎ@ G M^^OL ^WNG^^OZMLGFTG UMXM M^ DGLMO^ O^GFÉ×G^ (U@DGL ^GX ZO^WMCOQMDM^ FG^TG NMFMC MTÏ TXÁ^ O^GFÉ×G^ MUCONMDM^). M @HTGFÉÎ@ DM^ O^GFÉ×G^ G^TÍ N@FDONO@FMDM M FÎ@ MDG^Î@ M@ UCMF@ DG ZMFTMIGF^ OTMÑ. M O^GFÉÎ@ U@X XGNGHOLGFT@ DG ^MCÍXO@ DGN@XXGFTG DG FGI@NOMÉÎ@ D@ OTMÑ N@L ^GW GLUXGIMD@X G^TÍ N@FDONO@FMDM M@ XGNGHOLGFT@ LGF^MC DG ^MCÍXO@ GL N@FTM, M N@FTXMTMÉÎ@ D@ ]WG JMQ UMXTG DM FGI@NOMÉÎ@, G M LMFWTGFÉÎ@ D@ ^GW ZÌFNWC@ GLUXGIMTÌNO@, G M LGF^MCODMDG DOJGXGFNOMDM U@DGXÍ ^GX MCTGXMDM GL XMQÎ@ DG FGI@NOMÉ×G^ D@ OTMÑ N@L ^GW GLUXGIMD@X. ^G Z@NÁ FÎ@ NWLUXOX G^^M^ N@FDOÉ×G^, ^GXÍ N@HXMD@ @ UXGÉ@ OFTGIXMC D@ UMN@TG. Z@NÁ U@DG N@F^WCTMX M^ JMORM^ DG OFZG^TOLGFT@^, OFZG^TOLGFT@^, M^ XGIXM^ DG GCGIOHOCODMDG G DG NÍCNWC@ G @^ OFZG^TOLGFT@^ GCGIÌZGO^ GL
[email protected]/N@FTM-N@XXGFTG/TMXOJM^/.
[email protected]/N@FTM-N@XXGFTG/TMXOJM ^/. UMXM ^MHGX LMO^ ^@HXG M^ O^GFÉ×G^ @W GL NM^@ DG DÑZODM^ MNG^^G
[email protected], UX@NWXG ^GW IGXGFTG @W GFTXG GL N@FTMT@ N@L M NGFTXMC DG MTGFDOLGFT@ M@ NCOGFTG OTMÑ.
UMXM UMN@TG DG N@FTM U@WUMFÉM, M LGF^MCODMDG D@ UMN@TG G M^ TMXOJM^ D@^ ^GXZOÉ@^ GRNGDGFTG^ @W MZWC^@^ ^GXÎ@ DGHOTMD@^ FM ^WM N@FTM F@ 8± LÁ^ ^WH^G]WGFTG M@ LÁ^ DG XGJGXÁFNOM, M UMXTOX D@ 8± DOM WTOC.
59:492 H55=M 5>/5:/858= ZHXG=JM5 I5525 O559:492
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 lmo 858= 55:|55:
F`tms F`t ms gxpconmt gxpconmtovms ovms L`volg olgftm ftméî` éî` - Uro Urofnop fnopmos mos soicms soicms uto utocoz cozmdms mdms N`ftm N`ftm N`rrgf N`rrgftg tg | L`v
M MDON MDOMFT.DGU@^OTMFTG MI MWT/MWT@L HM^ HKJ HKC/HKO N N/N NNJ NGO NB/NB] N@FTXH NRG D DM DGU DGZ D@N GRTX/GRT I
migfdmlgft` mdono`fmc mdomftmlgft` m dgp`sotmftg miáfnom mut`lítonm (`) híson` hmfkj`fg hmfkcofg nrïdot` m n`lpgfsmr n`ftm n`rrgftg nmdmstr` dg nbgqugs sgl jufd` nmoxm gcgtrôfon` Otmñ nbgqug n`ftrohuoéî` nmoxms gcgtrôfon`s dïhot` m n`lpgfsmr dïhot` mut`líton` dgpþsot` dgv`cvod` d`nulgft` dg nrïdot` gxtrmt` mpconméî` pr`irmlmdm
OFT/OFTGXFGT/ >5B OFT OFT TXMF^J O@J LGF^ U UMIT@/UIT@/UMI/UI U@WU XGJOF XGLWFGX X^B@U ^M]/^] ^D@/^D ^O^DGH ^O^UMI TMX TGD TGC TXMF^J TGC/TGCGJ@FG/>5B TGC TOT THO TXMF^J/ TGJ/TGN/ TXJ/TXMF^
trmfsméî` rgmcozmdm pgcm Oftgrfgt trmfsjgráfnom gjgtumdm/rgnghodm vom oftgrfgt olp`st` s`hrg `pgrmé÷gs jofmfngorms lgfsmcodmdg p`upmfém mut`lítonm pmimlgft` p`upmfém rgjofmfnomlgft` rglufgrméî` rgdg sb`p smqug smcd` sostglm dg dïhot` mut`líton` sostglm dg pmimlgft` tmrojm trmfsjgráfnom gcgtrôfonm dosp`fìvgc trmfsjgráfnom gjgtumdm/rgnghodm vom tgcgj`fg trmfsméî` rgmcozmdm pgc` tgcgj`fg tìtuc` trmfsjgráfnom gjgtumdm/rgnghodm vom hmfkcofg trmfsjgráfnom
N`ftm N`rrgftg | N`lprms m dïhot` Trmfsmé÷gs dg n`lprms oftgrfmno`fmos fm juféî` dïhot`, n`l ` nmrtî` lñctopc`, dosp`fìvgc mpgfms pmrm nmrt÷gs Lñctopc` LmstgrNmrd. N`ftm N`rrgftg | Nbgqug Gspgnomc Gspgnomc (CO^) (=) @ cocolot lotgg CO CO^^ M Mdon dono`f o`fmc mc ggstí stí dosp`f dosp`fìvg ìvgcc mpgfm mpgfmss pm pmrm rm nncog cogftg ftgss qu qugg p` p`ssu ssugl gl pr`d pr`dut ut`` CO^ CO^ M Mdo dono no`f `fmc mc n` n`ft ftrm rmtm tmd` d`.. @ vvmc mc`r `r gx gxpr prgs gss` s` rrgp gprg rgsg sgft ftmm ` vmc vmc`r `r d` ccolo olotg tg mmdon dono`f o`fmc mc f` f` l` l`lgf lgft` t` dm n`ftrm n`ftrmtmé tméî` î` ``uu rg rgf`v f`vméî méî`` d` nn`ft `ftrmt rmt`. `. (8) @ ppgrn grngft gftumc umc d` NGT g ` vmc vmc`r `r d` O@J j`r j`rml ml nmcnuc nmcnucmd` md`ss pmrm pmrm m bopþt bopþtgsg gsg dg utocozmé utocozméî` î` oft oftgirmc girmc d` nrï nrïdot` dot` ddurmft urmftgg ` pr prmz` mz` dg >5 do doms; ms; sg oss` ffî` î` `n` `n`rrgr, rrgr, ` O@J sgrí ofjgro`r.
Nust` Nust` Gjgt Gjgtov` ov` T`tmc T`tmc ((NGT NGT)) ï ` nust` nust` t` t`tmc tmc dgstm dgstm ``pgr pgrméî méî`` dg nrï nrïdot dot`` pm pmrm rm ` nc ncog ogft ftg, g, gxpr gxprgs gss` s` mmno nolm lm fm j` j`rl rlmm ddgg ttmx mxmm ppgr grng ngft ftum umcc mmfu fumc mc.. UUmr mrmm ` nníc ícnu nuc` c` ddgg NGT sî` n`fsod n`fsodgrm grmd`s d`s ` vm vmc`r c`r t`t t`tmc mc d` d` cocolot lotgg dg nrï nrïdot dot`` n` n`c`n c`nmd` md` å dosp`s dosp`soéî oéî`` d` nco ncogft gftgg durm durmftg ftg ` pr prmz` mz` dgstg dgstg n`ftrm n`ftrmt` t` (CO^ lmo lmoss CO CO^^ Mdon Mdono`f o`fmc) mc),, m tmx tmxmm dg au aur`s r`s rg rglufgr lufgrmtþro mtþro`s, `s, ` vmc`r vmc`r d` d` O@J, dm n`l n`lossî` ossî` dg mhg mhgrtur rturmm dg nnrïdot rïdot`` g dms dglmos dgspgsms, n`fj`rlg mnolm ofdonmd`s.
N`ftm N`rrgftg | Umn`tg dg sgrvoé`s ** T@D@^ @^ UMN@TG^ DG ^GXZOÉ@^ @JGXGNOD@^ UGC@ OTMÑ N@FTÏL WLM ]WMFTODMDG DG ^GXZOÉ@^ IXMTWOT@^ (^GXZOÉ@^ G^^GFNOMO^) G WLM ]WMFTODMDG MDONO@FMC DG ^GXZOÉ@^ HMFNÍXO@^ ]WG N@LU×GL M ]WMFTODMDG LGF^MC DG NMDM UMN@TG. Z@NÁ U@DGXÍ MCTGXMX @W NMFNGCMX @ UMN@TG N@FTXMTMD@ M ]WMC]WGX L@LGFT@ FM^ MIÁFNOM^ OTMÑ WTOCOQMFD@ MUGFM^ @^ ^GXZOÉ@^ G^^GFNOMO^ DGTGXLOFMD@^ UGC@ HMFN@ NGFTXMC DO^U@FÌZGO^ UMXM N@FTXMTMÉÎ@ F@ OTMÑ MIÁFNOM^ (4 ^M]WG^, =5 J@CBM^ DG NBG]WG, 8 GRTXMT@^ OLUXG^^@^, 8 TXMF^JGXÁFNOM^ GFTXG N@FTM^ DM LG^LM OF^TOTWOÉÎ@). *** UMXM N@F^WCTMX @ ZMC@X G T@D@^ @^ ^GXZOÉ@^ OFNCWÌD@^ F@^ UMN@TG^ DG ^GXZOÉ@^ N@F^WCTG M TMHGCM IGXMC DG TMXOJM^ ZOIGFTG, DO^U@FÌZGC F@
[email protected] G FM^ MIÁFNOM^ OTMÑ @W JMCG N@L M F@^^M G]WOUG.
59:492 H55=M 5>/5:/858= ZHXG=JM5 I5525 O559:492
mi 947= nn =>=92-2 mhr 858= 55=|55:
gxtrmt gxtrmt` ` lgf lgfsmc smc
/5>49:5555S 4 > 2 7 9 5
UXO^NOCM DMICO@ X UG LMFWGC CWO^ DG ZGXIWGOX@ ==: ZOCM MFT@FOGTM 5>49:-555 ^M@ UMWC@ ^U XGL-N
Lofbm n`ftm =>=92-2 Lofbm miáfnom 947= - ^p Zocm Xonm
mhr 858=
Mv Ofn`fjod Lofgorm =57: - 5>49:-5=5 - Zc Mft`fogtm - ^m` Umuc` - ^U smcd` gl 8?/5>/8= X$ =7,=9-
5=. N`ftm N`rrgftg g Mpconmé÷gs Mut`lítonms
t`tmc gf gftrmdms (nrïdot`s) X$ 8.5:=,:8
smcd` gl >5/54/8= X$ 899,92
gftrmdms (nrïdot`s) Dgpþsot`s g rgngholgft`s Trmfsjgráfnoms, D@Ns g TGDs @utrms gftrmdms t`tmc
94% =8% =4%
=.745,82 845,55 82=,>4 8.5:=,:8
smìdms (dïhot`s) N`lprms m dïhot` Trmfsjgráfnoms, D@Ns g TGDs Dïhot`s mut`líton`s gjgtumd`s @utrms smìdms t`tmc
>>% 48% 4% 8=%
79:,=9 942,55 98,84 >98,8: =.9:2,:9
t`tmc sm smìdms (dïhot`s) X$ =.9:2,:9
N`ftm N`rrgftg | L`volgftméî` M < migfd migfdmlgft mlgft`` H < mé÷gs l`volgftmdms pgcm H`csm dg Zm Zmc`rgs c`rgs N < nrïdot` m n`lpgfsmr D < dïhot` m n`lpgfsmr I < mpconméî` pr`irmlmdm U < p`upmfém mut`lítonm Umrm dglmos soicms, n`fsuctg ms F`tms
dmtm
dgsnroéî`
8?/5>
^mcd` mftgro`r
5=/54
O@J
57/54
Xsb`p-DX@IMXOM ^M-57/54 Xsb`p-DX@IMXOM ^M-57/54 Xsb`p-BOLMYMXO UG-57/54 Xsb`p-OXLM@^ J@F^-57/54 THO >==:.8::=7-5 Gst`rf` Xsb`p CO^/Aur`s Tmr Umn`tg Otmñ LMX/8=
Gxpconmtovms Gxpconmtovms f`jofmc d` gxtrmt gxtrmt``
5:/54
59/54
UOR TXMF^J B@LGX@ 5:/54 Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ D D@ND Oft 8>4599 UOR TXMF^J Nmrc`s 59/54
Gstg lmtgromc gstí dosp`fìvgc fm Oftgrfgt 6 L gf gfu N`ftm N`rrgftg 6 Gxtrmt` Lgfsmc
gftrmdms X$ (nrïdot`s)
smìdms X$ (dïhot`s)
smcd` X$ =7,=9-
5,57-
=7,88-
:=,>4:=,>48?,75=8,??895,55 :=,>4 5,=?48,55-
=52,9:
845,55 >>2,9:-
=5,55 >>2,9:
=75,5595,555972>4 H55=M 57/57/858= ZHXG=JM5 I559? O55972>4
gxtrmt gxtrmt` ` lgf lgfsmc smc
dmtm
dgsnroéî`
Xglufgrméî`/^mcíro` Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ 52/54
5?/54
=8/54
=>/54
=4/54
=7/54
Xglufgrméî`/^mcíro` Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-UMI*^`sHmtg-5?/54 OFT TGD D 24?:99 ^ospmi BQ G^U MNMD CTDM Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ THO :852.57424-2 Oft NCMX@-^U DDD =>==2: OFT TGD D 82>4>2 OFT TGD D >>9=4: ^giur` Nmrtî` Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Oft UXG-UMI@RRRRR 8445 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-NC@WDYM*KGC-=4/54 Xsb`p-UMI*Lmrlotm-=4/54 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Oft GCGTX@UMWC@ ?28:82=5 Oft FGT ^GXZ N@LWFONMN 5 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
gftrmdms X$ (nrïdot`s) :=>,22
mi 947= nn =>=92-2 mhr 858= 558|55:
smìdms X$ (dïhot`s)
smcd` X$
>?>,22-
=5,55 9>8,:4
>2:,45-
=5,55 =.==?,54
>2:,45
=85,55885,55885,55 =85,55
=5,55 ???,54
=72,55:=,>875,55=55,559,?5>99,88
=5,55 :8=,28
85,5585,55
=5,55 :5=,28
=75,55=4=,558?=,55
=5,55 >=5,28
==7,?2=84,28845,25
=5,55 95,58
=:/54
^MCD@ MUCON MWT LMO^
95,58
=?/54
^MCD@ MUCON MWT LMO^
95,58
85/54
^MCD@ MUCON MWT LMO^
95,58
88/54
^MCD@ MUCON MWT LMO^
95,58
8>/54
^MCD@ MUCON MWT LMO^
95,58
8:/54
^MCD@ MUCON MWT LMO^
95,58
89/54
^MCD@ MUCON MWT LMO^
95,58
82/54
^MCD@ MUCON MWT LMO^
95,58
8?/54
Otmñ ^`h Lgdodm 59/9> THO >==:.8::=7-5 Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
>5/54
^MCD@ MUCON MWT LMO^ ^mcd` gl N/N
98,84895,55 =?9,9:-
=5,55 8:9,92 8:9,92 =5,55
5972>4 H55=M 57/57/858= ZHXG=JM5 I559? O55972>4
gxtrmt gxtrmt` ` lgf lgfsmc smc
dmtm
dgsnroéî`
gftrmdms X$ (nrïdot`s)
mi 947= nn =>=92-2 mhr 858= 55>|55:
smìdms X$ (dïhot`s)
smcd` X$
^mcd` jofmc
899,92
t`tmcozmd`r dg mpconmé÷gs mut`lítonms
gftrmdm X$ (nrïdot`s) =.54?,58
fm n`ftm n`rrgftg (=)
smìdm X$ (dïhot`s) =.>=:,25-
(=) @s vmc`rgs rgjgrgftgs m` t`tmcozmd`r dg mpconmé÷gs mut`lítonms fî` gstî` s`lmd`s f` rgsul` dg l`volgftméî` dg n`ftm n`rrgftg.
N`ftm N`rrgftg | Mpconmé÷gs Mut`lítonms Mpcon Mut Lmos (NDH) rgsul` - lás 54/858= smcd` gl 5>/8= X$ 5,55 5,55 5,55
bostþron` profnopmc
hrut` cìquod`
vmc`r dm mpconméî` X$ =.>=:,25 =.>=:,25 =.>=:,25
rgfdolgft`s d` lás X$ (=) 5,55 5,55 5,55
rgsimtgs mftgn. g vgfnolgft`s X$ =.54?,58 =.54?,58 =.54?,58
smcd` gl 54/8= X$ 8:9,92 8:9,92 8:9,92
(=) Xgfdolgft`s mpurmd`s f` lás, rgjgrgftg ås `pgrmé÷gs rgsimtmdms g m` smcd` rglmfgngftg.
l`volgftméî` - mpconmé÷gs/rgsimtgs mftgnopmd`s g vgfnolgft`s
dmtm 5:/54
mpconmé÷gs rgmcozmdms X$ >>2,9:
vmc`r profnopmc rgsimt./vgfn. X$ 5,55
rgfdolgft` hrut` pmi` X$ 5,55
O@J rgtod` X$ 5,55
OXXJ rgtod` X$ 5,55
rgfdolgft` cìquod` pmi` X$ 5,55
smcd` dg profnopmc mpconmd` X$ >>2,9:
59/54 52/54 5?/54 =8/54 =8/54 =>/54 =4/54 =4/54 =7/54 8?/54 t`tmc
>?>,22 >2:,45 5,55 5,55 5,55 5,55 5,55 5,55 5,55 =?9,9: =.>=:,25
5,55 5,55 =85,55 8=2,9: =72,4: 85,55 8=7,48 97,72 845,25 5,55 =.54?,58
5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
9>8,:4 =.==?,54 ???,54
N`ftm N`rrgftg | N`lprms m dïhot` dmtm 57/54/8= 57/54/8=
:8=,28 :5=,28 >=5,28 95,58 8:9,92
t`tmc X$ 79:,=9
bostþron`
vmc`r X$
57/54/8= 57/54/8=
dmtm
bostþron` 57/54/8= 5?/54/8=
vmc`r X$ =4/54/8= =4/54/8=
N`ftm N`rrgftg | Dïhot`s mut`líton`s fî` gjgtumd`s ^uspgfs`s dmtm >=/5>/8=
bostþron` DGH MWT@X ^GL UMXMX
vmc`r X$ ==7,85
N`ftm N`rrg N`rrgftg ftg | Nbgqug Gspgnomc Gspgnomc (CO^) Colotg n`ftrmtmd` (CO^) Colotg vmroívgc (CO^ Mdono`fmc) (=) Dmtm dm prþxolm rgf`vméî` d` n`ftrmt` Tmxm dg aur`s f`lofmc voigftg f` pgrì`d` Tmxm dg aur`s gjgtovm lgfsmc Dom dg pmimlgft` Gfnmri`s mtrms`1 Aur`s L`rmtþro`s =% m.l. + 8% luctm* Nust` gjgtov` t`tmc (NGT) (8) Lgfsmc
X$ 75,55 X$ 5,55 58/5:/8= 9,555% 9.8>>% 58
NO@uJst(`Olgpjg`tsovt`` st``htmrcg(`NpGTg)rm(8é÷) gMsfjuofmmc fngorms) (8)
=4X4$,>5:,>%=
9,:8%
*@s aur`s l`rmtþro`s sgrî` n`hrmd`s f`s nms`s dg mtrms` f` pmimlgft` d` smcd` dgvgd`r. Bmvgrí m n`hrmfém dm luctm dg 8% s`hrg ` smcd` dgvgd`r fm bopþtgsg dg mtrms` f` pmimlgft` f`s nms`s dg nmfngcmlgft`/suspgfsî`/fî` rgf`vméî` d` nbgqug gspgnomc. Mtgféî`1 ` Nbgqug Gspgnomc ï ul colotg dg nrïdot` qug dgvg sgr utocozmd` mpgfms gl sotumé÷gs glgrigfnomos g dg j`rlm tglp`rírom. ^g v`ná prgnosmr dg nrïdot` p`r ul lmo`r pgrì`d`, n`fsuctg `utrms `pé÷gs lmos mdgqumdms gl f`ss`s nmfmos.
5972>4 H55=M 57/57/858= ZHXG=JM5 I559? O55972>4
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 mhr 858= 554|55:
n`lp`soéî` n`lp` soéî` dg smcd` dgvg dgvgd`r d`r dmtm
8?/5> >5/5> >=/5> 5=/54
smcd` dgvgd`r =7,=9 =7,=9 =7,=9 =7,88 -
colotg CO^ colotg CO^ mdono`fmc utocozmd` utocozmd` =7,=9 5,55 =7,=9 5,55 =7,=9 5,55 =7,88 5,55
mdomftmlgft` m dgp`sotmftgs 5 ,5 5 5 ,5 5 5 ,5 5 5 ,5 5
dgtmcbmlgft` d`s gfnmri`s dghotmd`s dgsnroéî`
UGXÌ@D@ DMTM DG DÏHOT@ D@^ GFNMXI@^ ^@LM D@^ ^MCD@^ F@^ DOM^ ÑTGO^ D@ UGXÌ@D@ ^MCD@ LÏDO@ WTOCOQMD@ F@ UGXÌ@D@ TMRM DG AWX@^ F@LOFMC ZOIGFTG F@ UGXÌ@D@ ZMC@X T@TMC D@^ GFNMXI@^ T@TMC DG DÏHOT@^
colotg CO^ colotg CO^ mdono`fmc
mdomft. m dgp`sotmftg
tmrojm dg mdomft. dgp.
58/5> M 5=/54 57/54/8= :5,9>8,98- (M) 9,55555% M.L. 5,=?5,=?-
N`ftm N`rrgftg | O@J s`hrg smcd` dgvgd`r O@J D@ UGXÌ@D@ DG 58/5> M >=/5>/858= (DOM^ N@XXOD@^)1 ^@LM D@^ MNXÏ^NOL@^ D@^ ^MCD@^ DGZGD@XG^ GL X$ (X$ =7,=9-) R MCO]W@TM O@J ZOIGFTG (5,>2555%)< 5,57-
N`ftm N`rrgftg | Umn`tg dg sgrvoé`s OTMÑ UMN@TG UMN@TG >>.5 .5 - MHXO MHXOC/858 C/858== l`volgftméî` dm n`ftm
J@CBM NBG]WG GRTXMT@ LÁ^ ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ GRTXMT@ L@ZOLGFT@ ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ ^M]WG^ N]MWOMRCM]^WGGCXGTNXMÔFFMONC @^ G HMFN@84B@XM^ MIÁFNOM^ (IWONBÁ DG NMORM) TXMF^JGXÁFNOM DG XGNWX^@(GRNGT@ D@N/TGD) ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ N@LWFONMÉÎ@ DOIOTMC LOFBM^ JOFMFNM^
qumftodmdg n`ftrmtmdm 85 2 8 5 +: 4 5 5 +4 =8
qumftodmdg gjgtumdm 5 5 5 5 5 5 5 5 5 5
qumftodmdg gxngdgftg 5 5 5 5 5 5 5 5 5 5
tmrojm p`r trmfsméî` (X$) 5,55 5,55 5,55 >,>5 8,97 5,55 5,55 >,>5 8,97 5,55
tmrojms t`tmc (X$) 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
+ 24 *** => 8 *** + == O^GFT@ =
55 5 5 = 5 5 5 5
55 5 5 5 5 5 5 5
85,,2555 >,=5 5,55 5,55 5,55 5,55 5,55 :,??
55,,5555 5,55 5,55 5,55 5,55 5,55 5,55 5,55
TMXOJM^ DGZODM^ TXMF^MÉ×G^ GRNGDGFTG^ LGF^MCODMDG DG^N@FT@ ^@HXG M LGF^MCODMDG T@TMC - ZMC@X DGZOD@
5,55 48,55 5,55 48,55
N`fdoé÷gs dg Osgféî`1 FÎ@ BÍ N@FDOÉ×G^ UMXM O^GFÉÎ@ F@ L@LGFT@. NM^@ Z@NÁ U@^^WM LMO^ DG WLM O^GFÉÎ@, @^ UGXNGFTWMO^ FÎ@ ^GXÎ@ ^@LMD@^ G @ UGXNGFTWMC DM 8 O^GFÉÎ@ ^GXÍ MUCONMD@ ^@HXG @ ZMC@X D@ UMN@TG AÍ N@F^ODGXMFD@ M = O^GFÉÎ@ G M^^OL ^WNG^^OZMLGFTG UMXM M^ DGLMO^ O^GFÉ×G^ (U@DGL ^GX ZO^WMCOQMDM^ FG^TG NMFMC MTÏ TXÁ^ O^GFÉ×G^
MUCONMDM^). @HTGFÉÎ@ DM^ D@ O^GFÉ×G^ G^TÍ^GW N@FDONO@FMDM FÎ@N@FDONO@FMDM MDG^Î@ M@ UCMF@ DG ZMFTMIGF^LGF^MC OTMÑ. MDG O^GFÉÎ@ U@X DG ^MCÍXO@ D@ DGN@XXGFTGMDG FGI@NOMÉÎ@ OTMÑ N@L GLUXGIMD@XMG^TÍ M@ XGNGHOLGFT@ ^MCÍXO@ GLXGNGHOLGFT@ N@FTM, M N@FTXMTMÉÎ@ ]WG JMQ UMXTG DM FGI@NOMÉÎ@, G M LMFWTGFÉÎ@ D@ ^GW ZÌFNWC@ GLUXGIMTÌNO@, G M LGF^MCODMDG DOJGXGFNOMDM U@DGXÍ ^GX MCTGXMDM GL XMQÎ@ DG FGI@NOMÉ×G^ D@ OTMÑ N@L ^GW GLUXGIMD@X. ^G Z@NÁ FÎ@ NWLUXOX G^^M^ N@FDOÉ×G^, ^GXÍ N@HXMD@ @ UXGÉ@ OFTGIXMC D@ UMN@TG. Z@NÁ U@DG N@F^WCTMX M^ JMORM^ DG OFZG^TOLGFT@^, M^ XGIXM^ DG GCGIOHOCODMDG G DG NÍCNWC@ G @^ OFZG^TOLGFT@^ GCGIÌZGO^ GL
[email protected]/N@FTM-N@XXGFTG/TMXOJM^/./. UMXM ^MHGX LMO^ ^@HXG M^ O^GFÉ×G^ @W GL NM^@ DG DÑZODM^ MNG^^G
[email protected], UX@NWXG ^GW
[email protected]/N@FTM-N@XXGFTG/TMXOJM^ IGXGFTG @W GFTXG GL N@FTMT@ N@L M NGFTXMC DG MTGFDOLGFT@ M@ NCOGFTG OTMÑ. 5972>4 H55=M 57/57/858= ZHXG=JM5 I559? O55972>4
5972>4 H55=M 57/57/858= ZHXG=JM5 I559? O55972>4
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 mhr 858= 557|55:
N`fdoé÷gs dg Osgféî`1 UMXM UMN@TG DG N@FTM U@WUMFÉM, M LGF^MCODMDG D@ UMN@TG G M^ TMXOJM^ D@^ ^GXZOÉ@^ GRNGDGFTG^ @W MZWC^@^ ^GXÎ@ DGHOTMD@^ FM ^WM N@FTM F@ 8± LÁ^ ^WH^G]WGFTG M@ LÁ^ DG XGJGXÁFNOM, M UMXTOX D@ 8± DOM WTOC.
F`tmss gxpconmt F`tm gxpconmtovms ovms N`ftm N`ftm N`rrgf N`rrgftg tg | L`vol L`volgftm gftméî` éî` - Urof Urofnop nopmos mos soicms soicms uto utocoz cozmdm mdmss M MDON MDOMFT.DGU@^OTMFTG MI MWT/MWT@L HM^ HKJ HKC/HKO N N/N
migfdmlgft` mdono`fmc mdomftmlgft` m dgp`sotmftg miáfnom mut`lítonm (`) híson` hmfkj`fg hmfkcofg nrïdot` m n`lpgfsmr n`ftm n`rrgftg
OFT /OFTGXFGT/ >5B OFT OFT TXMF^J O@J LGF^ U UMIT@/UIT@/UMI/UI U@WU XGJOF XGLWFGX X^B@U
trmfsméî` rgmcozmdm pgcm Oftgrfgt trmfsjgráfnom gjgtumdm/rgnghodm vom oftgrfgt olp`st` s`hrg `pgrmé÷gs jofmfngorms lgfsmcodmdg p`upmfém mut`lítonm pmimlgft` p`upmfém rgjofmfnomlgft` rglufgrméî` rgdg sb`p
NNJ NGO NB/NB] N@FTXH NRG D DM DGU DGZ D@N GRTX/GRT I
nmdmstr` dg nbgqugs sgl jufd` nmoxm gcgtrôfon` Otmñ nbgqug n`ftrohuoéî` nmoxms gcgtrôfon`s dïhot` m n`lpgfsmr dïhot` mut`líton` dgpþsot` dgv`cvod` d`nulgft` dg nrïdot` gxtrmt` mpconméî` pr`irmlmdm
^M]/^] ^D@/^D ^O^DGH ^O^UMI TMX TGD TGC TXMF^J TGC/TGCGJ@FG/>5B TGC TOT THO TXMF^J/ TGJ/TGN/ TXJ/TXMF^
smqug smcd` sostglm dg dïhot` mut`líton` sostglm dg pmimlgft` tmrojm trmfsjgráfnom gcgtrôfonm dosp`fìvgc trmfsjgráfnom gjgtumdm/rgnghodm vom tgcgj`fg trmfsméî` rgmcozmdm pgc` tgcgj`fg tìtuc` trmfsjgráfnom gjgtumdm/rgnghodm vom hmfkcofg trmfsjgráfnom
N`ftm N`rrgftg | N`lprms m dïhot` Trmfsmé÷gs dg n`lprms oftgrfmno`fmos fm juféî` dïhot`, n`l ` nmrtî` lñctopc`, dosp`fìvgc mpgfms pmrm nmrt÷gs Lñctopc` LmstgrNmrd. Nbgqug Gspgnomc Gspgnomc (CO^) N`ftm N`rrgftg | (=) @ cocolot lotgg CO CO^^ Md Mdono ono`fm `fmcc gs gstí tí ddosp osp`fì `fìvgc vgc mpg mpgfms fms pmr pmrmm ncogf ncogftgs tgs qug p`ssug p`ssugl l pr`d pr`dut ut`` CCO^ O^ Md Mdon ono` o`fm fmcc nn`f `ftr trmt mtmd md`. `. @ vvmc mc`r `r gxpr gxprgs gss` s` rrgp gprg rgsg sgft ftmm ` vmc vmc`r `r d` ccolo olotg tg mmdon dono`f o`fmc mc f` f` l` l`lgf lgft` t` dm dm n` n`ftr ftrmtm mtméî` éî` `u rrgf` gf`vmé vméî` î` dd`` n`ftr n`ftrmt` mt`.. (8) @ ppgrn grngft gftumc umc d` NGT g ` vmc`r vmc`r d` O@J j`rml j`rml nmc nmcnuc nucmd` md`ss pmrm pmrm m bbopþ opþtgs tgsgg dg utocozm utocozméî` éî` of oftgirm tgirmcc d` nrïdot nrïdot`` durmftg durmftg ` prmz` dg >5 doms; sg oss` fî` `n `n`rrgr `rrgr,, ` O@J sgrí ofjgro`r.
Nust` Nust` GGjgt jgtov` ov` T`t T`tmc mc ((NGT NGT)) ï ` nust` nust` t`t t`tmc mc ddgst gstmm `pgrm `pgrméî` éî` dg nrïd nrïdot` ot` pmr pmrmm ` nc ncog ogft ftg, g, gxpr gxprgs gss` s` mn mnol olmm fm j` j`rl rlmm ddgg ttmx mxmm pgrn pgrngf gftu tumc mc mmfu fumc mc.. UUmr mrmm ` níc nícnu nuc` c` dg NGT sî` n`fs n`fsodg odgrmd rmd`s `s ` vmc` vmc`rr t` t`tmc tmc d` ccolo olotg tg ddgg nrïdo nrïdot` t` nn`c` `c`nmd nmd`` å dosp`s dosp`soéî oéî`` d` ncog ncogftg ftg durmft durmftgg ` prmz` prmz` dgstg dgstg n`ftrm n`ftrmt` t` (CO^ (CO^ lmos lmos CO^ Mdono` Mdono`fmc fmc),), m tm tmxm xm dg aur aur`s `s rgl rglufgrm ufgrmtþro` tþro`s, s, ` vmc`r vmc`r dd`` O@J, dm n`lossî` n`lossî` dg mhg mhgrturm rturm dg nr nrïdot` ïdot` g dms dglmos dgspgsms, n`fj`rlg mnolm ofdonmd`s.
N`ftm N`rrgftg | Nbgqug Gspgnomc Gspgnomc (CO^) - Dgtmcbmlgft Dgtmcbmlgft` ` d`s gfnmri`s dghotmd` dghotmd`ss (M)(^@LM D@^ ^MCD@^ F@^ DOM^ ÑTGO^ D@ UGXÌ@D@ / FÑLGX@ DG DOM^ ÑTGO^ F@ UGXÌ@D@ (8>)) R (FÑLGX@ DG DOM^ N@XXO N@XXOD@^ D@^ (>=)/>5) N`ftm N`rrgftg | Umn`tg dg sgrvoé`s ** T@D@^ @^ UMN@TG^ DG ^GXZOÉ@^ @JGXGNOD@^ UGC@ OTMÑ N@FTÏL WLM ]WMFTODMDG DG ^GXZOÉ@^ IXMTWOT@^ (^GXZOÉ@^ G^^GFNOMO^) G WLM ]WMFTODMDG MDONO@FMC DG ^GXZOÉ@^ HMFNÍXO@^ ]WG N@LU×GL M ]WMFTODMDG LGF^MC DG NMDM UMN@TG. Z@NÁ U@DGXÍ MCTGXMX @W NMFNGCMX @ UMN@TG N@FTXMTMD@ M ]WMC]WGX L@LGFT@ FM^ MIÁFNOM^ OTMÑ WTOCOQMFD@ MUGFM^ @^ ^GXZOÉ@^ G^^GFNOMO^ DGTGXLOFMD@^ UGC@ HMFN@ NGFTXMC DO^U@FÌZGO^ UMXM N@FTXMTMÉÎ@ F@ OTMÑ MIÁFNOM^ (4 ^M]WG^, =5 J@CBM^ DG NBG]WG, 8 GRTXMT@^ OLUXG^^@^, 8 TXMF^JGXÁFNOM^ GFTXG N@FTM^ DM LG^LM OF^TOTWOÉÎ@). *** UMXM N@F^WCTMX @ ZMC@X G T@D@^ @^ ^GXZOÉ@^ OFNCWÌD@^ F@^ UMN@TG^ DG ^GXZOÉ@^ N@F^WCTG M TMHGCM IGXMC DG TMXOJM^ ZOIGFTG, DO^U@FÌZGC F@
[email protected] G FM^ MIÁFNOM^ OTMÑ @W JMCG N@L M F@^^M G]WOUG.
5972>4 H55=M 57/57/858= ZHXG=JM5 I559? O55972>4
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 mhr 858= 55:|55:
5972>4 H55=M 57/57/858= ZHXG=JM5 I559? O55972>4
mi 947= nn =>=92-2 lmr 858= 55=|55:
gxtrmt gxtrmt` ` lgf lgfsmc smc
/5>49:5555S = ? 5 : 9 5
UXO^NOCM DMICO@ X UG LMFWGC CWO^ DG ZGXIWGOX@ ==: ZOCM MFT@FOGTM 5>49:-555 ^M@ UMWC@ ^U XGL-N
Lofbm n`ftm =>=92-2 Lofbm miáfnom 947= - ^p Zocm Xonm
lmr 858=
Mv Ofn`fjod Lofgorm =57: - 5>49:-5=5 - Zc Mft`fogtm - ^m` Umuc` - ^U smcd` gl 8:/58/8= X$ ?>>,84
5=. N`ftm N`rrgftg g Mpconmé÷gs Mut`lítonms
t`tmc gf gftrmdms (nrïdot`s) X$ >.>2>,4:
smcd` gl >=/5>/8= X$ =7,=9-
gftrmdms Dgpþsot`s (nrïdot`s) g rgngholgft`s Trmfsjgráfnoms, D@Ns g TGDs @utrms gftrmdms t`tmc
77% ?% >:%
=.297,44 8?5,55 =.8=2,58 >.>2>,4:
smìdms (dïhot`s) N`lprms m dïhot` Trmfsjgráfnoms, D@Ns g TGDs Dïhot`s mut`líton`s gjgtumd`s @utrms smìdms t`tmc
47% >2% >% =4%
=.?>>,7> =.:75,24 =44,42 :5>,58 4.>>=,29
t`tmc sm smìdms (dïhot`s) X$ 4.>>=,29
N`ftm N`rrgftg | L`volgftméî` M < migfd migfdmlgft mlgft`` H < mé÷gs l`volgftmdms pgcm H`csm dg Zm Zmc`rgs c`rgs N < nrïdot` m n`lpgfsmr D < dïhot` m n`lpgfsmr I < mpconméî` pr`irmlmdm U < p`upmfém mut`lítonm
dmtm
dgsnroéî`
8:/58
^mcd` mftgro`r
5=/5>
Xsb`p-MTGCOG D@^ -89/58 Xsb`p-HWXIGX KOFI-82/58 Xsb`p-NC@WDYM*KGC-89/58 OFT TGD D 2?2589 Otmñ ^`h Lgdodm 57/9> THO >554.5797?-: N/N Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
Umrm dglmos soicms, n`fsuctg ms F`tms Gxpconmtovms Gxpconmtovms f`jofmc d` gxtrmt gxtrmt``
58/5>
5>/5>
Xsb`p-NMXX@^^GC -58/5> Xsb`p-BMXD Q@FG -58/5> Xsb`p-UMI*N`fvgfo-58/5> THO >==:.8::=7-5 N/N Mpc Mpcon Mut Lmos Tmr Umn`tg Otmñ JGZ/8= ^MCD@ MUCON MWT LMO^ Xsb`p-NMNMW ^B@Y -5>/5>
gftrmdms X$ (nrïdot`s)
smìdms X$ (dïhot`s)
smcd` X$ ?>>,84
=25,554?,?5=75,5525,5598,84>55,55 8>8,=4
>25,55
=5,55 :?=,=5
8,55:,558,??>89,5=48,55-
=2,?5-
=5,55 =.5=2,==
Gstg lmtgromc gstí dosp`fìvgc fm Oftgrfgt 6 L gf gfu N`ftm N`rrgftg 6 Gxtrmt` Lgfsmc
59:5?= H55=M 5:/54/858= ZHXG=JM5 I5592 O559:5?=
mi 947= nn =>=92-2 lmr 858= 558|55:
gxtrmt gxtrmt` ` lgf lgfsmc smc
dmtm
dgsnroéî`
Xsb`p-NMXX@^^GC -5>/5> Oft UMI TOT HMFN@ 8=2 OFT TGD D :99=44 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ 54/5>
52/5>
5?/5>
=5/5>
==/5>
=8/5>
=7/5>
Xsb`p-N L Z X@DXO-57/5> Xsb`p-OFTGXO@XX H-57/5> Xsb`p-OXLM@^ J@F^-57/5> Xglufgrméî`/^mcíro` Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-JMXLM^U -52/5> Xsb`p-OFTGXO@XX H-5:/5> Xsb`p-OXLM@^ J@F^-52/5> Xsb`p-UMDMXOM LMX-52/5> Xsb`p-UMI*KMJ@J@N-59/5> Xsb`p-UGTQ MXONMF-5:/5> Xsb`p-^WUGXLGXNMD-59/5> THO :852.57424-2 N/N Oft NCMX@-^U DDD =>==2: Oft UXG-UMI@RRRRR :4:7 UOR ]X^ UGT^WUGXLMX52/5> UOR TXMF^J B@LGX@ 5:/5> Xgs Mpcon Mut Lmos Xgfd Umi` Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-UMI*N`lgrno-5?/5> Xsb`p-^@DOG D@NG^-5?/5> OFT TGD D 7=58:> Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ UOR ]X^ UGT^WUGXLMX=5/5> ^ospmi BQ G^U MNMD CTDM Mpc Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-UGT ^B@U HX-==/5> Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^ Xsb`p-BOLMYMXO UG-=8/5> Xsb`p-UMI*NmsmDgN-=8/5> OFT TGD D :4>4== Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
smìdms X$ (dïhot`s) 8,558=,75=55,55-
=48,45
Xsb`p-NMXX@^^GC -54/5> `fmvosgfo-54/5> XXgsbs `Mpp-cUonMMIu*tNL ^MCD@ MUCON MWT LMO^
57/5>
gftrmdms X$ (nrïdot`s)
smcd` X$
=5,55 297,9=
=,7588,>5
85,25-
=5,55 27>,4=
=98,55=?,75==,58=.=?7,44 ??8,?8-
=5,55 =.24:,>>
>,:8:8,258,97=?,557,5575,5549?,:?=5:,55=8>,78=7,55=45,=4845,55 9:9,7= 5,5=
=5,55 =.592,28
88,5594,4:=55,55=?:,4:
=5,55 228,>:
884,95=.=77,55 ?>5,>5-
=5,55 =.2=8,::
87?,2587?,25
=5,55 =.778,2:
45,454?,84855,5582?,:4
=5,55 =.8:>,88
Xsb`p-MWT@ U@^T@ -=>/5> Xsb`p-MWT@ U@^T@ -=>/5> Xsb`p-MWT@ U@^T@ -=>/5> Xsb`p-HGFIMCM ^WU-=4/5> Xsb`p-LMFOM DG UO-=>/5> Xsb`p-^OL@FG XGIO-=4/5>
9,?5==,25=5,5584,4:47,7582,75-
XOfstb`UpM-I^TTOOCTWH^MMFUN@-=5>>/5>> Oft GCGTX@UMWC@ 9=>4::=5 Oft FGT ^GXZ N@LWFONMN 5 Oft ^MHG^U 59:=2?2>=7 Xgs Mpcon Mut Lmos ^MCD@ MUCON MWT LMO^
=5259,,5>5:-==4,5:=84,2894,9::8?,=:
=5,55 :>4,5:
59:5?= H55=M 5:/54/858= ZHXG=JM5 I5592 O559:5?=
gxtrmt gxtrmt` ` lgf lgfsmc smc
gftrmdms X$ (nrïdot`s)
mi 947= nn =>=92-2 lmr 858= 55>|55:
dmtm
dgsnroéî`
smìdms X$ (dïhot`s)
smcd` X$
=:/5>
^MCD@ MUCON MWT LMO^
:>4,5:
=9/5>
^MCD@ MUCON MWT LMO^
:>4,5:
=2/5>
^MCD@ MUCON MWT LMO^
:>4,5:
=?/5>
^ospmi BQ G^U MNMD CTDM ^MCD@ MUCON MWT LMO^
88/5>
^MCD@ MUCON MWT LMO^
:>4,5:
8>/5>
^MCD@ MUCON MWT LMO^
:>4,5:
84/5>
D D@N Oft 524598 NMX Xgs Mpcon Mut Lmos Xgfd Umi` Mpcon Mut Lmos
:>4,5: 5,5=
9,59
8:/5>
UOR TXMF^J Urosnoc8:/5>
75,55
79,59
8?/5>
Otmñ ^`h Lgdodm 5:/9> ^mcd` gl N/N ^mcd` jofmc
:>,55
9>,55 :>4,5:
955,55-
98,84-
t`tmcozmd`r dg mpconmé÷gs mut`lítonms
gftrmdm X$ (nrïdot`s) >.=9>,49
fm n`ftm n`rrgftg (=)
=7,=9=7,=9=7,=9-
smìdm X$ (dïhot`s) 8.875,8>-
(=) @s vmc`rgs rgjgrgftgs m` t`tmcozmd`r dg mpconmé÷gs mut`lítonms fî` gstî` s`lmd`s f` rgsul` dg l`volgftméî` dg n`ftm n`rrgftg.
N`ftm N`rrgftg | Mpconmé÷gs Mut`lítonms Mpcon Mut Lmos (NDH) rgsul` - lás 5>/858= smcd` gl 58/8= X$ ?8>,84 ?8>,87 ?8>,87
bostþron` profnopmc
hrut` cìquod`
vmc`r dm mpconméî` X$ 8.875,8> 8.875,8> 8.875,8>
rgfdolgft`s d` lás X$ (=) 5,55 5,5= 5,5=
rgsimtgs mftgn. g vgfnolgft`s X$ >.=9>,49 >.=9>,4? >.=9>,4?
smcd` gl 5>/8= X$ 5,55 5,55 5,55
smcd` dg profnopmc mpconmd` X$ :?=,=5 =.5=2,== 297,9= 27>,4= =.24:,>>
(=) Xgfdolgft`s mpurmd`s f` lás, rgjgrgftg ås `pgrmé÷gs rgsimtmdms g m` smcd` rglmfgngftg.
l`volgftméî` - mpconmé÷gs/rgsimtgs mftgnopmd`s g vgfnolgft`s
dmtm 5=/5> 58/5> 5>/5> 54/5> 57/5> 52/5> 52/5> 5?/5> 5?/5> =5/5> ==/5> =8/5> =7/5> =7/5>
mpconmé÷gs rgmcozmdms X$ 5,55 >89,5= 5,55 5,55 ??8,?8 5,55 5,55 5,55 5,55 ?>5,>5 5,55 5,55 5,55 5,55
vmc`r profnopmc rgsimt./vgfn. X$ 8>8,=4 5,55 =48,45 88,>5 5,55 78:,45 84=,== 27,?5 ==5,7: 5,55 87?,25 82?,:4 >>8,?8 8?:,84
rgfdolgft` hrut` pmi` X$ 5,55 5,55 5,55 5,55 5,55 5,5= 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
O@J rgtod` X$ 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
OXXJ rgtod` X$ 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
rgfdolgft` cìquod` pmi` X$ 5,55 5,55 5,55 5,55 5,55 5,5= 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
8t`4t/m5>c
8.8755,,855>
>.=:9>>4,,45:9
55,,55=8
55,,5555
55,,5555
55,,55=8
=.592,28 228,>: =.2=8,:: =.778,2: =.8:>,88 :>4,5:
59:5?= H55=M 5:/54/858= ZHXG=JM5 I5592 O559:5?=
gxtrmt gxtrmt` ` lgf lgfsmc smc
N`ftm N`rrgftg | N`lprms m dïhot` dmtm
mi 947= nn =>=92-2 lmr 858= 554|55:
t`tmc X$ =.?>>,7>
bostþron`
vmc`r X$
dmtm
bostþron`
vmc`r X$
5=/5>/8= 5=/5>/8= 5=/5>/8= 58/5>/8= 58/5>/8= 58/5>/8=
54/5>/8= 54/5>/8= 57/5>/8= 57/5>/8= 57/5>/8= 52/5>/8=
52/5>/8= 52/5>/8= 52/5>/8= 52/5>/8= 5?/5>/8= 5?/5>/8=
=8/5>/8= =7/5>/8= =7/5>/8= =7/5>/8= =7/5>/8= =7/5>/8=
5>/5>/8= 5>/5>/8=
52/5>/8= 52/5>/8=
==/5>/8= =8/5>/8=
=7/5>/8= =7/5>/8=
N`ftm N`rrgftg | Dïhot`s mut`líton`s fî` gjgtumd`s ^uspgfs`s dmtm >=/5>/8=
bostþron` DGH MWT@X ^GL UMXMX
vmc`r X$ ==7,85
Gspgnomc (CO^) N`ftm N`rrg N`rrgftg ftg | Nbgqug Gspgnomc
Colotg n`ftrmtmd` (CO^) Colotg vmroívgc (CO^ Mdono`fmc) (=) Dmtm dm prþxolm rgf`vméî` d` n`ftrmt` Tmxm dg aur`s f`lofmc voigftg f` pgrì`d` Tmxm dg aur`s gjgtovm lgfsmc
X$ 75,55 X$ 5,55 58/54/8= 9,555% 9.8>>%
Dom dg pmimlgft` 58 Gfnmri`s mtrms`1 Aur`s L`rmtþro`s =% m.l. + 8% luctm* Nust` gjgtov` t`tmc (NGT) (8) Lgfsmc 9,:8% Nust` gjgtov` t`tmc (NGT) (8) Mfumc =44,>:% O@J (Olp`st` s`hrg `pgrmé÷gs jofmfngorms) (8) X$ 5,>= *@s aur`s l`rmtþro`s sgrî` n`hrmd`s f`s nms`s dg mtrms` f` pmimlgft` d` smcd` dgvgd`r. Bmvgrí m n`hrmfém dm luctm dg 8% s`hrg ` smcd` dgvgd`r fm bopþtgsg dg mtrms` f` pmimlgft` f`s nms`s dg nmfngcmlgft`/suspgfsî`/fî` rgf`vméî` d` nbgqug gspgnomc. Mtgféî`1 ` Nbgqug Gspgnomc ï ul colotg dg nrïdot` qug dgvg sgr utocozmd` mpgfms gl sotumé÷gs glgrigfnomos g dg j`rlm tglp`rírom. ^g v`ná prgnosmr dg nrïdot` p`r ul lmo`r pgrì`d`, n`fsuctg `utrms `pé÷gs lmos mdgqumdms gl f`ss`s nmfmos.
N`ftm N`rrgftg | Umn`tg dg sgrvoé`s OTMÑ UMN@TG UMN@TG >>.5 .5 - LMXÉ LMXÉ@/858 @/858== l`volgftméî` dm n`ftm
J@CBM NBG]WG GRTXMT@ LÁ^ ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ GRTXMT@ L@ZOLGFT@ ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ ^M]WG^ ]WMC]WGX NMFMC NMORM^ GCGTXÔFON@^ G HMFN@84B@XM^ MIÁFNOM^ (IWONBÁ DG NMORM) TXMF^JGXÁFNOM DG XGNWX^@(GRNGT@ D@N/TGD) ]WMC]WGX NMFMC MIGFNOM NMFMO^ GCGTXÔFON@^ D@N/TGD - MWT@-MTGFDOLGFT@ D@N OFTGXFGT N@LWFONMÉÎ@ DOIOTMC LOFBM^ JOFMFNM^
qumftodmdg n`ftrmtmdm 85 2 8 5 +: 4 5 5 +4 =8 4 +2 *** => 8 *** + == 5 5
qumftodmdg gjgtumdm 5 5 5 5 5 5 5 5 5 5 5 5 5 5 = 5 5 5 =
qumftodmdg gxngdgftg 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 =
tmrojm p`r trmfsméî` (X$) 5,55 5,55 5,55 >,=7 8,:5 5,55 5,55 >,=7 8,:5 5,55 5,55 8,:7 8,?7 5,55 5,55 5,55 5,55 5,55 5,55
tmrojms t`tmc (X$) 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55 5,55
O^GFT@ =
5 5
5 5
5,55 :,??
5,55 5,55
TMXOJM^ DGZODM^ TXMF^MÉ×G^ GRNGDGFTG^ LGF^MCODMDG DG^N@FT@ ^@HXG M LGF^MCODMDG T@TMC - ZMC@X DGZOD@
5,55 48,55 5,55 48,55
59:5?= H55=M 5:/54/858= ZHXG=JM5 I5592 O559:5?=
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 lmr 858= 557|55:
N`fdoé÷gs dg Osgféî`1 FÎ@ BÍ N@FDOÉ×G^ UMXM O^GFÉÎ@ F@ L@LGFT@. NM^@ Z@NÁ U@^^WM LMO^ DG WLM O^GFÉÎ@, @^ UGXNGFTWMO^ FÎ@ ^GXÎ@ ^@LMD@^ G @ UGXNGFTWMC DM 8 O^GFÉÎ@ ^GXÍ MUCONMD@ ^@HXG @ ZMC@X D@ UMN@TG AÍ N@F^ODGXMFD@ M = O^GFÉÎ@ G M^^OL ^WNG^^OZMLGFTG UMXM M^ DGLMO^ O^GFÉ×G^ (U@DGL ^GX ZO^WMCOQMDM^ FG^TG NMFMC MTÏ TXÁ^ O^GFÉ×G^ MUCONMDM^). M @HTGFÉÎ@ DM^ O^GFÉ×G^ G^TÍ N@FDONO@FMDM M FÎ@ MDG^Î@ M@ UCMF@ DG ZMFTMIGF^ OTMÑ. M O^GFÉÎ@ U@X XGNGHOLGFT@ DG ^MCÍXO@ DGN@XXGFTG DG FGI@NOMÉÎ@ D@ OTMÑ N@L ^GW GLUXGIMD@X G^TÍ N@FDONO@FMDM M@ XGNGHOLGFT@ LGF^MC DG ^MCÍXO@ GL N@FTM, M N@FTXMTMÉÎ@ D@ ]WG JMQ UMXTG DM FGI@NOMÉÎ@, G M LMFWTGFÉÎ@ D@ ^GW ZÌFNWC@ GLUXGIMTÌNO@, G M LGF^MCODMDG DOJGXGFNOMDM U@DGXÍ ^GX MCTGXMDM GL XMQÎ@ DG FGI@NOMÉ×G^ D@ OTMÑ N@L ^GW GLUXGIMD@X. ^G Z@NÁ FÎ@ NWLUXOX G^^M^ N@FDOÉ×G^, ^GXÍ N@HXMD@ @ UXGÉ@ OFTGIXMC D@ UMN@TG. Z@NÁ U@DG N@F^WCTMX M^ JMORM^ DG OFZG^TOLGFT@^, M^ XGIXM^ DG GCGIOHOCODMDG G DG NÍCNWC@ G @^ OFZG^TOLGFT@^ GCGIÌZGO^ GL
[email protected]/N@FTM-N@XXGFTG/TMXOJM^/./. UMXM ^MHGX LMO^ ^@HXG M^ O^GFÉ×G^ @W GL NM^@ DG DÑZODM^ MNG^^G
[email protected], UX@NWXG ^GW
[email protected]/N@FTM-N@XXGFTG/TMXOJM^ IGXGFTG @W GFTXG GL N@FTMT@ N@L M NGFTXMC DG MTGFDOLGFT@ M@ NCOGFTG OTMÑ.
UMXM UMN@TG DG N@FTM U@WUMFÉM, M LGF^MCODMDG D@ UMN@TG G M^ TMXOJM^ D@^ ^GXZOÉ@^ GRNGDGFTG^ @W MZWC^@^ ^GXÎ@ DGHOTMD@^ FM ^WM N@FTM F@ 8± LÁ^ ^WH^G]WGFTG M@ LÁ^ DG XGJGXÁFNOM, M UMXTOX D@ 8± DOM WTOC.
58. Nrïdot Nrïdot` ` prï-mpr` prï-mpr`vmd` vmd` Cofbms dg nrïdot` prï-mpr`vmdms gl >=/5> pr`dut`
NMXTÎ@ DG NXÏDOT@ NXGDOÍXO@
prï-mpr`vmd` t`tmc X$* 8.855,55 =5.5>5,55
vmc`r líxol` dm pmrngcm X$
2>?,55
* M dosp`fohocodmdg dm `jgrtm dgssg colotg dgpgfdg dm lmfutgféî` dms n`fdoé÷gs mtumos d` ncogftg pmrm n`fngssî`/rgf`vméî` dg nrïdot`. M `jgrtm d` colotg tmlhïl pgrdgrí sum vmcodmdg sg qumcqugr mt` f`rlmtov` vogr m olpgdor `u m rgstrofior ms `pgrmé÷gs dg nrïdot`.
59:5?= H55=M 5:/54/858= ZHXG=JM5 I5592 O559:5?=
gxtrmt gxtrmt` ` lgf lgfsmc smc
mi 947= nn =>=92-2 lmr 858= 55:|55:
F`tmss gxpconmt F`tm gxpconmtovms ovms L`volgftm gftméî` éî` - Urof Urofnop nopmos mos soicms soicms uto utocoz cozmdm mdmss N`ftm N`ftm N`rrgf N`rrgftg tg | L`vol
M MDON MDOMFT.DGU@^OTMFTG MI MWT/MWT@L HM^ HKJ HKC/HKO N N/N NNJ NGO NB/NB] N@FTXH NRG D DM DGU DGZ D@N GRTX/GRT I
migfdmlgft` mdono`fmc mdomftmlgft` m dgp`sotmftg miáfnom mut`lítonm (`) híson` hmfkj`fg hmfkcofg nrïdot` m n`lpgfsmr n`ftm n`rrgftg nmdmstr` dg nbgqugs sgl jufd` nmoxm gcgtrôfon` Otmñ nbgqug n`ftrohuoéî` nmoxms gcgtrôfon`s dïhot` m n`lpgfsmr dïhot` mut`líton` dgpþsot` dgv`cvod` d`nulgft` dg nrïdot` gxtrmt` mpconméî` pr`irmlmdm
OFT /OFTGXFGT/ >5B OFT OFT TXMF^J O@J LGF^ U UMIT@/UIT@/UMI/UI U@WU XGJOF XGLWFGX X^B@U ^M]/^] ^D@/^D ^O^DGH ^O^UMI TMX TGD TGC TXMF^J TGC/TGCGJ@FG/>5B TGC TOT THO TXMF^J/ TGJ/TGN/ TXJ/TXMF^
trmfsméî` rgmcozmdm pgcm Oftgrfgt trmfsjgráfnom gjgtumdm/rgnghodm vom oftgrfgt olp`st` s`hrg `pgrmé÷gs jofmfngorms lgfsmcodmdg p`upmfém mut`lítonm pmimlgft` p`upmfém rgjofmfnomlgft` rglufgrméî` rgdg sb`p smqug smcd` sostglm dg dïhot` mut`líton` sostglm dg pmimlgft` tmrojm trmfsjgráfnom gcgtrôfonm dosp`fìvgc trmfsjgráfnom gjgtumdm/rgnghodm vom tgcgj`fg trmfsméî` rgmcozmdm pgc` tgcgj`fg tìtuc` trmfsjgráfnom gjgtumdm/rgnghodm vom hmfkcofg trmfsjgráfnom
N`ftm N`rrgftg | N`lprms m dïhot` Trmfsmé÷gs dg n`lprms oftgrfmno`fmos fm juféî` dïhot`, n`l ` nmrtî` lñctopc`, dosp`fìvgc mpgfms pmrm nmrt÷gs Lñctopc` LmstgrNmrd. N`ftm N`rrgftg | Nbgqug Gspgnomc Gspgnomc (CO^) (=) @ cocolot lotgg CO CO^^ Md Mdono ono`fm `fmcc gs gstí tí ddosp osp`fì `fìvgc vgc mpg mpgfms fms pmr pmrmm ncogf ncogftgs tgs qug p`ssug p`ssugl l pr`d pr`dut ut`` CCO^ O^ Md Mdon ono` o`fm fmcc nn`f `ftr trmt mtmd md`. `. @ vvmc mc`r `r gxpr gxprgs gss` s` rrgp gprg rgsg sgft ftmm ` vmc vmc`r `r d` ccolo olotg tg mmdon dono`f o`fmc mc f` f` l` l`lgf lgft` t` dm dm n` n`ftr ftrmtm mtméî` éî` `u rrgf` gf`vmé vméî` î` dd`` n`ftr n`ftrmt` mt`.. (8) @ ppgrn grngft gftumc umc d` NGT g ` vmc`r vmc`r d` O@J j`rml j`rml nmc nmcnuc nucmd` md`ss pmrm pmrm m bbopþ opþtgs tgsgg dg utocozm utocozméî` éî` of oftgirm tgirmcc d` nrïdot nrïdot`` durmftg durmftg ` prmz` dg >5 doms; sg oss` fî` `n `n`rrgr `rrgr,, ` O@J sgrí ofjgro`r.
Nust` Nust` GGjgt jgtov` ov` T`t T`tmc mc ((NGT NGT)) ï ` nust` nust` t`t t`tmc mc ddgst gstmm `pgrm `pgrméî` éî` dg nrïd nrïdot` ot` pmr pmrmm ` nc ncog ogft ftg, g, gxpr gxprgs gss` s` mn mnol olmm fm j` j`rl rlmm ddgg ttmx mxmm pgrn pgrngf gftu tumc mc mmfu fumc mc.. UUmr mrmm ` níc nícnu nuc` c` dg NGT sî` n`fs n`fsodg odgrmd rmd`s `s ` vmc` vmc`rr t` t`tmc tmc d` ccolo olotg tg ddgg nrïdo nrïdot` t` nn`c` `c`nmd nmd`` å dosp`s dosp`soéî oéî`` d` ncog ncogftg ftg durmft durmftgg ` prmz` prmz` dgstg dgstg n`ftrm n`ftrmt` t` (CO^ (CO^ lmos lmos CO^ Mdono` Mdono`fmc fmc),), m tm tmxm xm dg aur aur`s `s rgl rglufgrm ufgrmtþro` tþro`s, s, ` vmc`r vmc`r dd`` O@J, dm n`lossî` n`lossî` dg mhg mhgrturm rturm dg nr nrïdot` ïdot` g dms dglmos dgspgsms, n`fj`rlg mnolm ofdonmd`s.
N`ftm N`rrgftg | Umn`tg dg sgrvoé`s ** T@D@^ @^ UMN@TG^ DG ^GXZOÉ@^ @JGXGNOD@^ UGC@ OTMÑ N@FTÏL WLM ]WMFTODMDG DG ^GXZOÉ@^ IXMTWOT@^ (^GXZOÉ@^ G^^GFNOMO^) G WLM ]WMFTODMDG MDONO@FMC DG ^GXZOÉ@^ HMFNÍXO@^ ]WG N@LU×GL M ]WMFTODMDG LGF^MC DG NMDM UMN@TG. Z@NÁ U@DGXÍ MCTGXMX @W NMFNGCMX @ UMN@TG N@FTXMTMD@ M ]WMC]WGX L@LGFT@ FM^ MIÁFNOM^ OTMÑ WTOCOQMFD@ MUGFM^ @^ ^GXZOÉ@^ G^^GFNOMO^ DGTGXLOFMD@^ UGC@ HMFN@ NGFTXMC DO^U@FÌZGO^ UMXM N@FTXMTMÉÎ@ F@ OTMÑ MIÁFNOM^ (4 ^M]WG^, =5 J@CBM^ DG NBG]WG, 8 GRTXMT@^ OLUXG^^@^, 8 TXMF^JGXÁFNOM^ GFTXG N@FTM^ DM LG^LM OF^TOTWOÉÎ@). *** UMXM N@F^WCTMX @ ZMC@X G T@D@^ @^ ^GXZOÉ@^ OFNCWÌD@^ F@^ UMN@TG^ DG ^GXZOÉ@^ N@F^WCTG M TMHGCM IGXMC DG TMXOJM^ ZOIGFTG, DO^U@FÌZGC F@
[email protected] G FM^ MIÁFNOM^ OTMÑ @W JMCG N@L M F@^^M G]WOUG.