Financiero

 

TKR[EKF JKA PTG^KBZG Kf ka prkskftk prgykbtg sk cgreuao y kvoaüo ao cobtndnanjoj jk ufo keprkso jkjnbojo o ao codrnbobnòf jk vornaaos bgrruhojos jk obkrg kstrubturoa dolg ao fgreo FZK NFKF 4?38, poro kstg sk gdtuvnkrgf jotgs rkoaks jk nfvkstnhobngfks prkvnos sgdrk aos boftnjojks jk obkrg quk sk prgjubkf kf ka Kbuojgr. Ka prgykbtg sk kfbukftro rkportnjg kf 2 kstujngs fkbksorngs poro jktkrenfor ao vnodnanjoj jk kstk< Kstujng jk ekrbojg. Kstujng tîbfnbg. Kstujng cnfofbnkrg. Bgf ka kstujng jk ekrbojg ag quk sk troto jk kfbgftror ks ufo rkspuksto jka ekrbojg oftk fukstrg prgjubtg jk vornaaos bgrruhojos, ag buoa fgs pkrento prgpgfkr ufo kstrotkhno bgekrbnoa quk sko ojkbuojo poro ka ekrbojg bgftkepgrïfkg y cuturg. Prnekroekftk, jkcnfnegs fukstrg prgjubtg, skhunjoekftk ka prkbng y cnfoaekftk o quk tnkepg jk bankftks y kf quî eofkro (eoriktnfh) sk ak gcrkbkrï. Poro kstg toednîf ks fkbksorng bgfgbkr ags prgjubtgs snenaorks prgpukstgs pgr ao bgepktkfbno, su prkbng, sus borobtkråstnbos, ktb. Ka kstujng tîbfnbg fgs pkrentnrï suhkrnr y kxoenfor jnckrkftks oatkrfotnvos tkbfgaòhnbos bgf ka cnf jk codrnbor aos vornaaos bgrruhojos jk obukrjg o ao fgreo FZK NFKF. Kf kstk kstujng jktkrenfoegs ao eotkrno prneo, kqunpgs, eoqunforno, kstodakbnenkftgs fkbksorngs poro aakvor o bodg ka prgykbtg y, pgr kfjk, ags bgstgs osgbnojgs oa bopntoa jk nfvkrsnòf y o aos gpkrobngfks rkqukrnjos, k nfbausg ka bopntoa jk trodolg fkbksorng poro o bodg ka prgykbtg. Kf kstk oportojg toednîf sk jksbrndk ka toeoÿg òptneg jk ao paofto, ao enbrg agboanzobnòf, eobrg agboanzobnòf, grhofnzobnòf, nfhkfnkråo jka prgykbtg y eorbg akhoa. Ka kstujng cnfofbnkrg bgftkepao jk eofkro grjkfojo ao nfcgreobnòf n fcgreobnòf rkaobngfojo bgf ka ospkbtg kbgfòenbg, kf rksuatojg o ao ovkrnhuobnòf y kstujng rkoanzojg kf ao ktopo jk kstujng tîbfnbg. Ksto nfcgreobnòf skrï jk hrof dkfkcnbng kf ao kstneobnòf jk ao rkftodnanjoj kbgfòenbo jka prgykbtg. BOPÅZ[AG ? Nftrgjubbnòf Aos vornaaos bgrruhojos sgf dorros jk obkrg, ags buoaks tnkfkf jnïektrgs kspkbåcnbgs jktkrenfojgs pgr fgreos jk bgfstrubbnòf. Îstos tnkfkf uf kepakg jktkrenfojg kf bgfstrubbngfks jk dosks, agsos anhkros g jk hrof pksg, trodks, joaos, pgstks jk bgfbrktg, agsos sòanjos, nfbausg sk usof bgeg ojntoekftgs ojnbngfoaks poro vnhuktos poro kakekftgs prkcodrnbojgs, eoepgstkråo. Ao prnfbnpoa vkftolo jk aos vornaaos bgrruhojos ks quk pukjkf odsgrdkr kscukrzgs jk trobbnòf, bgeprksnòf y tgrsnòf kf bgauefos kstrubturoaks, jïfjgak oa bgfbrktg ufo kstrubturo råhnjo, cukrtk, bopoz jk odsgrdkr borhos kxtkrfos jk vorngs tnpgs. Aos vornaaos bgrruhojos, o jnckrkfbno jk gtrgs prgjubtgs jk obkrg, sgf codrnbojgs kf Kbuojgr, prnfbnpoaekftk kf ao rkhnòf bgsto. Poro kstg kxnstk uf prgbksg quk jkdk aakvorsk o bodg, bgf ka cnf jk trofscgreor ao eotkrno prneo, bmotorro, kf vornaaos jk bgfstrubbnòf. Ka ofïansns rkoanzojg poro ao nepakekftobnòf jk kstk tnpg jk cïdrnbo kf ka ekrbojg kbuotgrnofg, kstï kfcgbojg prnfbnpoaekftk kf ojqunrnr ao nfcgreobnòf kf cukftks prneornos y skbufjornos poro jktkrenfor sn ks prgvkbmgsg ao klkbubnòf jk ufo obkråo Oftkbkjkftks

 

Kf ?>32, sk nfstoao kf Kbuojgr, kf ao Pofoekrnbofg Fgrtk, OJKABO B.O, ao prnekro bgepoÿåo snjkrürhnbo, osuenkfjg uf rktg jk drnfjorak oa poås ufo nfjustrno jk obkrg, jgfjk sk gckrtof y vkfjkf obtuoaekftk ao eoygr boftnjoj jk prgjubtgs jk obkrg, skof kstgs aoenfojgs kf boankftk y cråg, ïfhuags, pkrcnaks y skbbngfks aoenfojos, obkrgs kf anfhgtks y skbbngfks sòanjos pgr trkcnaojg, eganjg g jgdaojg kf cråg. Mgy kf jåo kxnstkf gtros bgepoÿåos bgeg FGSOBKTG, OFJKB, aos buoaks tnkfkf ao rkspgfsodnanjoj jk budrnr bgf ao jkeofjo ofuoa jk obkrg ao buoa ks jk oprgxneojoekftk ?,8 enaagfks tgfkaojos. Rnf kedorhg, ka poås bkrbo jk ;00000 tgfkaojos. Jklofjg kf baorg qukjk ka poås kstï prgjubnkfjg uf 20% jkaprgjulg obkrg quk sk bgfsuek. O pksor jk quk poro ka oÿg 40?3 kf oeîrnbo aotnfo ao prgjubbnòf jk obkrg brkbnkrgf uf ??% y ao jk aoenfojgs kf uf :%, kf Kbuojgr sk rkjulg ao jkeofjo jk obkrg, prnfbnpoaekftk pgr prgdakeos bgf ka skbtgr jk ao bgfstrubbnòf. Obtuoaekftk poro budrnr ao jkeofjo jk obkrg, ka skbtgr snjkrürhnbg sk kfbukftro jnvnjnjg kf enbrgkeprksos, pkqukÿos, ekjnofos y hrofjks keprksos, gbupofjg uf ::.?4 %, 24.2;%, =.=4% = .=4% y ?:.8?% kf ka ekrbojg aodgroa rkspkbtnvoekftk. O pksor jk quk aos enbrgkeprksos, pkqukÿos y ekjnofos gbupof ags ekfgrks fnvkaks jk vkftos, snkfjg kstk jk opkfos ka >% jka tgtoa. Kstujngs jojgs o bgfgbkr pgr jnvkrsgs ekjngs jk bgeufnbobnòf, ocnreof quk ka 3;,?% jk aos keprksos snjkrürhnbos sk kfbukftrof agboanzojos kf aos prgvnfbnos jk Huoyos y Pnbmnfbmo, jk eofkro kspkbåcnbo kf _untg y Huoyoquna. Ao nfjustrno kf Huoyoquna tnkfjk o skr ao eïs nepgrtoftk kf buoftg o tkeo jk kxpgrtobngfks y vkftos oa ekrbojg fobngfoa.

GDLKZNSG HKFTOA Kstujnor ao cobtndnanjoj jk ao brkobnòf jk ufo paofto jk cufjnbnòf jk obkrg poro gdtkfbnòf jk vornaaos jk obkrg bgrruhojg jk = ee jk jnïektrg y 3 ektrgs jk agfhntuj dolg ao fgreo FZK NFKF4?38

GDLKZNSGR KRPKBÅCNBGR   Kckbtuor uf kstujng jk ekrbojg poro jktkrenfor ao gckrto y jkeofjo jk vornaao jk obkrg bgrruhojg bgfsuenjg bgeg eotkrno prneo kf ka ekrbojg kbuotgrnofg.

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  Kckbtuor uf kstujng jk ekrbojg poro bgfgbkr ka fkhgbng jka rkbnbaolk jk ao bmotorro bgf ka cnf jk pgfkr kf eorbmo ka jnskÿg jk ao paofto jk cufjnbnòf jk vornaao jk obkrg bgrruhojg.   Jktkrenfor ao agboanzobnòf gptneo jk ao paofto nftkftofjg jnsenfunr ags bgstgs jk prgjubbnòf.   Jktkrenfor ao bopobnjoj jk ao paofto.   Tkoanzor uf kstujng cnfofbnkrg poro jkegstror ao vnodnanjoj y rkftodnanjoj jka prgykbtg ekjnoftk ak bïabuag jka ZNT y ka SOF.

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BOPNZ[AG 4 KRZ[JNG JK EKTBOJG Nftrgjubbnòf Ka prkskftk Zrodolg bgrrkspgfjk oa jnskÿg jk ufo paofto jk cufjnbnòf jk obkrg bgf ka cnf jk gdtkfkr vornaaos jk obkrg bgrruhojg y ka jksorrgaag jka kstujng jka ekrbojg sk kfcgbo kf jktkrenfor ao jkeofjo vornaao jk kf obkrg bgrruhojg, kstneorïskaorkoanzo gckrto ufo jka prgjubtg o fnvka fobngfoajky oaofnvka agboa oahufgs puftgsoså jkenseg nftkrîs.skZoednîf prgykbbnòf jk ao jkeofjo y gckrto pgr ekjng jk ao rkhrksnòf anfkoa snepak bgf jotgs gdtkfnjgs jk aos bïeoros jk bgekrbng y ka dofbg bkftroa, pgr gtrg aojg, sk kstneo ka ekrbojg pgtkfbnoa nfsotnsckbmg, ags vgaüekfks jk prgjubbnòf y poro tkrenfor bgf uf ofïansns jk prkbngs jk ao vornaao kf ka ekrbojg. Gdlktnvg hkfkroa Kaodgror ags kstujngs jk ekrbojg quk pkrentof jktkrenfor ao cobtndnanjoj jk ufo keprkso quk codrnbo vornaaos bgrruhojos jk obkrg poro ao nfjustrno kbuotgrnofo. Gdlktnvgs kspkbåcnbgs Tkoanzor ufo nfvkstnhobnòf prkvno sgdrk ao gpgrtufnjoj jk fukvos keprksos snjkrürhnbos kf ka ekrbojg obtuoa, kf dosk o aos bgepktkfbnos hrofjks prnfbnpoaks. Kaodgror uf kstujng jk ekrbojg bgf tgjo ao nfcgreobnòf rkbgpnaojo snhunkfjg ags anfkoenkftgs paoftkojgs kf baosk. Njkftncnbor ao kxnstkfbno jk jkeofjo jk vornaao bgrruhojo jk obkrg jk =ee jk jnïektrg y 3 ektrgs jk agfhntuj prgpukstg poro ao rkoanzobnòf jka kstujng jk prk cobtndnanjoj ?.  ?.  JKCNFNBNÒF JKA PTGJ[BZG Ka prgjubtg o rkoanzorsk o ag aorhg jk kstk prgykbtg sgf vornaaos jk obkrg jk skbbnòf bnrbuaor jk supkrcnbnk bgrruhojo bgeg sk eukstrof kf ao Cnhuro ?, ? , aos enseos quk sgf aoenfojos kf boankftk poro ao bgfcgreobnòf jk mgrenhòf kstrubturoa dolg ao fgreo FZK NFKF4?38 jk jnckrkftk jnïektrg fgenfoa y agfhntuj quk vof jksjk ka eïs pkqukÿg jk = y 3 ektrgs rkspkbtnvoekftk bgeg sk nfjnbo kf ao Zodao ?. Ao prgjubbnòf jk kstk tnpg jk prgjubtg sk jo bgf ka prgpòsntg jk budrnr ao kxbkjkftk jk oepanoekftk kxpgrtobnòf ojkeïs jk aopkrentnr nfbrkekftor ao prgjubbnòf fobngfoa. Kstk tnpg jkjkeofjo vornaaos sgf usojos kf nfjustrno jk bgfstrubbnòf jksjk ao kjncnbobnòf jk pkqukÿgs eksgfks jk bgfbrktg bgeg aovofjkråos mosto kjncnbobngfks hrofjks bgeg bosos y kjncnbngs jkdnjg o quk gcrkbkf ufo oato rksnstkfbno kstrubturoa y sk kfborhof jk nfbrkekftor ao ojmkrkfbno oa bgfbrktg y kvntof ka jksanzoenkftg kf ao kstrubturo.

Cnhuro ?. Sornaao jk bgfstrubbnòf jk(Ojkabo, skbbnòf40?>) bnrbuaor (Cukftk< ) jk supkrcnbnk bgrruhojo

 

  Zodao ?. Jnekfsngfks bgekrbnoaks jk vornaao jk obkrg bgrruhojg jk skbbnòf bnrbuaor Jnïektrg fgenfoa YeeU 40 44

= ?0

4; 4= 24

?4 ?: ?3

23 :0

?= 40

Agfhntujks YeU

3 ?0 ?4

(Cukftk< Prgpno) Ka prgbksg jk codrnbobnòf jk aos vornaaos kepnkzo bgf ao cufjnbnòf jk obkrg purg kf eoygr pgrbkftolk y kf eåfneo boftnjoj ka usg jk bmotorro, ao ohrkhobnòf jk kakekftgs oakoftks, o eïs jka mnkrrg, skrïf bordgfg, eofhofksg, còscgrg, ozucrk y snanbng poro eklgror aos prgpnkjojks ekbïfnbos jk aos vornaaos jk rksnstkfbno o ao trobbnòf, kstg pkrentk gdtkfkr nfnbnoaekftk poaofqunaaos g tgbmgs ags buoaks pgstkrngrekftk sgf aoenfojgs kf boankftk y trotojgs tîrenboekftk poro aghror aos prgpnkjojks rkqukrnjos dolg ao a o fgreo FZK NFKF 4?38. Kf ao Cnhuro 4 sk pukjk gdskrvor uf ksqukeo jka prgbksg jk eofucobturo.

Cnhuro 4. Prgbksg jk codrnbobnòf jk vornaaos bgrruhojos. (Cukftk< (Ojkabo, 40?=))

 

4.  4.  RKHEKFZOBNÒF JKA EKTBOJG Ka prgbksg jk skhekftobnòf bgfsnstk kf jnvnjnr ka ekrbojg hagdoa kf sudbgfluftgs, bgf borobtkråstnbos jk nftkrksks eïs kspkbåcnbgs y mgeghîfkgs, jnrnhnjgs o bgfbkftror ags ag s kscukrzgs jk eoriktnfh mobno ufo sgaubnòf eïs kckbtnvo y o aghror ufo eklgr kcnbnkfbno kf ao utnanzobnòf jk ags rkbursgs. (Grgzbg, ?>>>) o)  o)  Hkghrïcnbo Ka prkskftk prgykbtg tnkfk ao nftkfbnòf jk budrnr ao jkeofjo fobngfoa jk obkrg bgrruhojg jk skbbnòf bnrbuaor, ag quk nepanbo ao bgdkrturo tgtoa jka tkrrntgrng Kbuotgrnofg kf sus rkhngfks bgsto, snkrro y grnkftk, poro kstg ao paofto bkftroa jk prgjubbnòf y jnckrkftks subursoaks sk udnbof jk eofkro kstrotîhnbo kf ags auhorks bgf ekfgr pgsnbngfoenkftg jk ao keprkso snjkrürhnbo kbuotgrnofo pkrentnkfjg jksegfgpganzor ka ekrbojg y bgftrndunr kf ka boedng jk eotrnz prgjubtnvo, bgeg sk nfjnbo kf ao Cnhuro 2. sk pujk vkr quk aos prgvnfbnos jk Huoyos y Pnbmnfbmo sgf aos quk pgskkf ka eoygr pgrbkftolk jk keprksos njkftncnbojos, pgr ag buoa sk skakbbngfof bgeg zgfos kstrotîhnbos oqukaaos kf aos buoaks ao bgfbkftrobnòf ks ekfgr oa 4% nfbauykfjg ao prgvnfbno jk Ksekroajos bgeg bkjk prnfbnpoa.

Cnhuro 2. Rkhekftobnòf hkghrïcnbo skhüf ao njkftncnbobnòf jk paoftos snjkrürhnbos kf ka Kbuojgr (Cukftk< (Aggr,40?=))

d)  d)  Jkeghrïcnbo Ao skhekftobnòf jkeghrïcnbo pkrentk njkftncnbor jk eofkro kspkbåcnbo ags prnfbnpoaks bankftks poro ojqunrnr ka prgjubtg gckrtojg, jk ao tksns jk Crofbnsbg Oakeïf(40?4), njkftncnboegs bgeg pgtkfbnoaks bankftks o aos keprksos snjkrürhnbos jk ao bgfstrubbnòf bgeg< -  -  -  -  - 

Ckrrgnfegdnanorno R.O. Ohrk R.O. Oskfodro R.O. Bnskprg Båo. Atjo. Bgfstrubtgro y Bgfstrusof R.O.

 

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Bgfvor R.O. Bggpkrotnvo jk Snvnkfjo Rof Hrkhgrng Zurvoa R.O. \uryof R.O.

Kstos keprksos sgf aos eoygrks jkeofjoftks jk vornaaos jk obkrg bgrruhojg poro aakvor obodg sus prgykbtgs nfegdnanorngs y jk kaodgrobnòf jk gdlktgs jk dosk jk bgfbrktg kstrubturoa. Gtrgs jk ags pgtkfbnoaks bankftks sk njkftncnbof bgeg ags nfjnvnjugs outgsucnbnkftks y coenanos quk pgskkf uf nfhrksg kbgfòenbg eoygr oa soaorng dïsnbg ufncnbojg quk sk rkoanzof ka prgbksg jk bgfstrubbnòf nfegdnanorng jk eofkro nfjkpkfjnkftk ks jkbnr ag rkoanzof bgf eofg jk gdro jk gpkrorngs snf ao fkbksnjoj jk rkburrnr o bgfstrubtgros. 2.  2.  C[FZKR JK NFCGTEOBNÒF 2.?. Cukftks jk nfcgreobnòf Rkbufjorno Kbuojgr fg ks uf poås fktoekftk prgjubtgr jk obkrg, pkrg tnkfk hrofjks keprksos kf ao nfjustrno snjkrürhnbo bgeg ag sgf< OFJKB, FGSOBKTG y OJKABO quk sgf ags prgjubtgrks prnfbnpoaks jk vorngs prgjubtgs snjkrürhnbgs, kftrk kaags vornaao bgrruhojo y anso prgjubtg kf ka buoa kstï bkftrojg kstk kstujng jk ekrbojg, poro gdtkfkr jotgs nfcgreotnvgs obkrbo jka prgjubtg sk gdtnkfkf rkhnstrgs mnstòrnbgs jk nepgrtobngfks, jkeofjo y bopobnjoj jk prgjubbnòf, nfcgreobnòf jnspgfndak kf jnckrkftks rkvnstos jk nepobtg y jksorrgaag toftg snjkrürhnbg y kbgfòenbg Oaobkrg(40?=) bgf ka kfbodkzojg ‑ Oeîrnbo Aotnfo bncros bnjkrürhnbos 40?=―, osn bgeg ka dgaktåf jka Dofbg Bkftroa jka Kbuojgr nfjnbo ka pgrbkftolk jk opgrtk jk ao keprkso snjkrürhnbo jk vornaao jk bgfstrubbnòf jk bojo ufo jk aos prnfbnpoaks keprksos kf ka Kbuojgr, snkfjg OFJKB ufo jk aos prnfbnpoaks bgeg sk nfjnbo kf ao Cnhuro :. Jk ao enseo eofkro ka dgaktåf jk kbuotgrnofg jk prk nfvkrsnòf nfjnbo ao bopobnjoj jk aos nfstoaobngfks jk aos prnfbnpoaks nfjustrnos snjkrürhnbos, su pgrbkftolk jk utnanzobnòf kftrk gtrgs ospkbtgs quk sk nfjnbof kf ao Cnhuro ;, egstrofjg quk fnfhufo jk aos prnfbnpoaks keprksos snjkrürhnbos ks bopoz jk utnanzor pgr bgepaktg su bopobnjoj bopobn joj jk nfstoaobnòf, uf klkepag euy baorg ks O OFJKB FJKB quk opkfos uso uf 3:% y 8;% jk bopobnjoj jk utnanzobnòf.

OFJKB

OJKABO

FGSOBKTG

OFJKB 24%

Nfjustrnos pkqukÿos

Nepgrtobngfks

OJKABO 48%

Nepgrtobngfks ?=%

FGSOBKTG 44% Nfjustrnos pkqukÿos ?%

Cnhuro :. Pgrbkftolk jk opgrtobnòf jk vornaaos jk obkrg bgrruhojg jk skbbnòf bnrbuaor (Cukftk80 ?230;:=; ?2=0;0>4 ?:00;::; ?:40:>00 ?:203=83 ?;;4?000

Jkeofjo (tgfkaojos) 23282; 2=8?:; :?028: :2:>>3 :3?0>3 :80000 :>>00:

40?2 40?:

?;88;000 ?3048000

;40?>8 ;:0>:>

OFJKB

OJKABO

FGSOBKTG

23% 23% 2;% 2:% 2:% 2:% 2:%

24% 24% 20% 4>% 4>% 4>% 4>%

?4% ?;% ?=% 40% 40% 40% 40%

Nfjustrnos pkqukÿos 0,;% 0,=% 0,=% 0,=% 0,=% 0,>% 0,>%

2:% 22%

4>% 4>%

40% 40%

0,>% 0,>%

Nepgrtobngfks ?>,;% ?3,4% ?3,4% ?3,4% ?3,4% ?3,?% ?3,?% ?3,?% ?8,?%

 

40?; 40?3 40?8 40?=

?348>000 ?3;4>000 ?3888000 ?8042000

;3?2?: ;=4482 30;=3? 34;3=8

22% 4=% 40% ?,0% 22% 4=% 4?% ?,0% 24% 48% 4?% ?,?% 24% 48% 44% ?,4% (Cukftk% ?8,=%

d.  d.  Jkeofjo prgykbtojo (;oÿgs) Kstneor ao jkeofjo jk obkrg poro ao prgjubbnòf jk vornaaos ks nepgrtoftk yo quk pkrentk kstodakbkr ao kxnstkfbno jk uf ekrbojg poro ao vkfto jk vornaao bgrruhojo jk skbbnòf trofsvkrsoa bnrbuaor, poro kstg sk utnanzo ka poquktk bgepakekftorng jkfgenfojg jkfgenfojg ‑prgfgstnbg?― quk gcrkbk ao mkrroenkfto bgeputobngfoa Enbrgsgct Kxbkaa quk luftg bgf ao dosk jk jotgs gdtkfnjos jk ao jkeofjo mnstòrnbo jka prgjubtg jksjk ka oÿg 4003 o ao ckbmo quk sk eukstrof kf ao Zodao 4, gdtkfnjgs o trovîs jk aos cukftks skbufjornos sk prgbkjk o boabuaor boab uaor ao jkeofjo prgykbtojo poro ags pròxnegs ; oÿgs jk vnjo ütna jka prgykbtg, rksuatojgs quk sk eukstrof kf ao Zodao 2, jgfjk sk gdskrvo quk ao jkeofjo jk vornaao jk obkrg bgrruhojg jk skbbnòf bnrbuaor tnkfk uf brkbnenkftg jk oarkjkjgr jka ?% ofuoa quk kstï jnrkbtoekftk rkaobngfojg bgf ka brkbnenkftg pgdaobngfoa jka poås. Zodao 2. Jkeofjo prgykbtojo jk vornaao jk obkrg bgrruhojo poro ags pròxnegs ; oÿgs Oÿg

Pgdaobnòf

Jkeofjo (tgfkaojos)

OFJKB

4040 404? 4044 4042 404:

?2:08>80 ?230;:=; ?2=0;0>4 ?:00;::; ?:40:>00

3838=8 3>:=== 8?42=8 84>;;> 8;0204

2?% 2?% 2?% 2?% 20%

OJKABO

FGSOBKTG

43% 43% 43% 43% 4;% (Cukftk< Prgpno)

4:% 42% 44% 42% 4:%

Nfjustrnos pkqukÿos

Nepgrtobngfks

?,4% ?,4% ?,2% ?,2% ?,:%

?8,3% ?=,3% ?>,0% ?=,>% ?>,2%

;.  ;.  Ofïansns jk ao gckrto o.  o.  Gckrto obtuoa Jk ao Zodao 2 sk pukjk jktkrenfor ao gckrto obtuoa jk obkrg poro ao codrnbobnòf jk vornaaos bgrruhojos jk skbbnòf bnrbuaor, rksuatojg r ksuatojg quk sk rksuek kf ao Zodao :, voagr quk ks gckrtojg pgr aos trks hrofjks nfjustrnos jk obkrg jka Kbuojgr kftrk kaaos OFJKB, OJKABO ^ FGSOBKTG y kf ekfgr boftnjoj pgr nfjustrnos pkqukÿos, ag quk jo uf tgtoa jk ;4 ;42200 2200 tgfkaojos gckrtojos poro ka oÿg 40?>. Zodao :. Gckrto obtuoa jk obkrg poro vornaao bgrruhojo skbbnòf trofsvkrsoa Oÿg

Obkrg (tgfkaojos)

Obkrg nepgrtojg (tgfkaojos)

Zgtoa, jk obkrg (tgfkaojos)

40?> (eks gbtudrk)

;42200

??:2=4,3=2

3283=4,3=2

(Cukftk< (Dofbg Bkftroa jka Kbuojgr,40?>))

? Mkrroenkfto

jk ofïansns kstojåstnbg y tîbfnbg bgepaklg dosojg kf ka eîtgjg jk rkhrksnòf anfkoa jk eåfnegs buojrojgs.

 

3.  3.  Jkeofjo pgtkfbnoa nfsotnsckbmo y jkeofjo jka prgykbtg o.  o.  Jkeofjo nfsotnsckbmo Poro jktkrenfor ao jkeofjo nfsotnsckbmo jk vornaao jk obkrg bgrruhojg jk skbbnòf bnrbuaor sk njkftncnbo bgeg ao boftnjoj jk obkrg nepgrtojg mobno ka Kbuojgr bgeg ao zgfo jk nftkrîs jka prgykbtg, yo quk ksto sk kfborho jk budrnr ka tgtoa coatoftk jk prgjubtg, quk bgeg sk rksuek kf ao Zodao ;. ksto boftnjoj voråo kf uf prgekjng jk ?=% jk prgjubbnòf nfsotnsckbmo o fnvka fobngfoa jksjk ka oÿg 40?: oa kstojg eïs obtuoa jka 40?= bgf uf oarkjkjgr jk ?0000 tgfkaojos jk prgjubtg coatoftk quk oa oÿg eïs obtuoa ks jkbnr ka oÿg 40?= rkprkskftg uf tgtoa jk $?0= 4;2 ;3: kf nfhrksgs kbgfòenbgs. Zodao ;. Pgrbkftolk y Boftnjoj jk Nepgrtobngfks jk vornaao jk obkrg bgrruhojg jk skbbnòf bnrbuaor Oÿg

Nepgrtobngfks

Nepgrtobngfks (tgfkaojos)

Bgstg ($)/Ih

Bgstg Zgtoa ($)

40?:

?8%

>4;04

?.04

>:„2;4.0:0

40?;

?=%

?0?028

0.>>=

?00„=2:.>43

40?3

?8%

>=>=3

0.>04

=>„4=;.284

40?8

?>%

??:;0=

0.>3;

??0„;00.440

0.>84

?0=„4;2.;=:

40?=

?=%

???284 (Cukftk< Prgpno)

d.  d.  Jkeofjo jka prgykbtg Ka prgykbtg tnkfk bgeg prnfbnpoa gdlktnvg budrnr ka % jk ao jkeofjo prgykbtojo o ; oÿgs jk nepgrtobngfks voagrks quk sk nfjnbof kf ao Zodao 3. ks jkbnr quk sk paoftko budrnr ufo jkeofjo prgekjng jk 400 tgfkaojos jk vornaao jk obkrg bgrruhojg pgr oÿg rkprkskftofjg uf nfhrksg kbgfòenbg jk oarkjkjgr jk $ 2;0 000.00 Zodao 3. Jkeofjo jk vornaao o budrnr pgr portk jka prgykbtg

Oÿg

Nepgrtobngfks

Nepgrtobngfks (tgfkaojos)

Jkeofjo o Budrnr YihU

Bgstg ($)/Ih

Bgstg Zgtoa ($)

4040

0.=%

400

?=?,:28.00

?.>4

2:=,2;>.0:

404?

0.=%

4?4

?>4,242.44

?.>:

282,?08.0;

4044

0.=%

4?8

?>3,=;>.?;

?.>3

2=;,=:2.>4

4042

0.=%

4?=

?>8,833.22

4

2>;,;24.33

404:

0.=%

440

?>>,;=0.80

4.0?

:0?,?;8.4?

(Cukftk84 .>84 jòaorks pgr inaghroeg jk obkrg bgeg sk nfjnbo kf ao Zodao 8. tkfnkfjg oså quk aos vornaaos jk = bgf 3 ektrgs jk agfhntuj oabofzof voagrks jk $:.;8. Zodao 8. Prkbngs obtuoaks jk vornaaos jk obkrg bgrruhojg jk skbbnòf bnrbuaor

Jnïektrg, eoso y prkbng jk vornaaos jk obkrg. Ý YeeU Eoso/e Eoso jk ? Prkbng jk Yih/eU vornaao YihU ? vornaao Y$/uU = 0.: :.8 :.;8 (Cukftk44;

Bgeg sk pukjk gdskrvor kf ao üatneo todao ka prkbng prgekjng jk aos vornaaos jk jnïektrg fgenfoa jk = y 3 ektrgs jk agfhntuj ks jk $:.>. Kstgs fgs snrvkf poro jktkrenfor uf voagr jk bgstg pgr inaghroeg fgenfoa jka prgjubtg.  =.  =.  BGEKTBNOAN\OBNÒF Poro jkcnfnr aos cgreor jk bgekrbnoanzor kstk prgjubtg fgs dosorkegs prnfbnpoaekftk kf aos cukftks nfcgreobnòf pkrentkf njkftncnborjka aospoås prnfbnpoaks hkghrïcnbos jgfjk skjkkfbkftrof aos skbufjorno prnfbnpoaks quk nfjustrnos snjkrürhnbos bgeg skzgfos egstrorgf kf ao Cnhuro :, y aos prnfbnpoaks cgreos jk bgekrbnoanzobnòf jka prgjubtg. Aukhg jka kstujng rkoanzojg kf ao skbbnòf 4 y kstodakbkr quk ao bgekrbnoanzobnòf sk rkoanzo o fnvka fobngfoa k njkftncnbor quk ags pgtkfbnoaks bankftks sgf toftg aos keprksos jka skbtgr jk ao bgfstrubbnòf y tgjos aos pkrsgfos bgf nfhrksgs kbgfòenbgs nhuoaks g supkrngrks oa soaorng dïsnbg ufncnbojg quk dusbof ao sganjncnbobnòf jk su prgpnkjoj utnanzofjg eotkrnoa dosk jk mgrenhòf oreojg, sk kstodakbk jgs cgreos jk bgekrbnoanzobnòf quk sk eukstrof o bgftnfuobnòf.  >.  PTGEGBNÒF Aos obtnvnjojks quk sk rkoanzorof bgf ka cnf jk prgegbngfor ka prgjubtg sk jktoaaof o bgftnfuobnòf< ?.  ?.  Prgegbngfks juroftk kvkftgs jk bgfstrubbnòf k nfjustrno Rk bgfsnhuk bgf ao jnstrndubnòf jk vgaoftks, pofcaktgs, torlktos kftrk gtrgs kf jnckrkftks kvkftgs rkaobngfojgs bgf ao bgfstrubbnòf k nfjustrno. 4.  4.  Tkjks sgbnoaks Ao brkobnòf jk ufo pïhnfo wkd pkrentk pudanbor nfcgreobnòf obkrbo jka prgjubtg jk eofkro eosnvo, pkrentnkfjg budrnr eoygr bgdkrturo jk pudanbnjoj jofjg o bgfgbkr botïaghgs, prkbngs

 

y kspkbncnbobngfks jka prgjubtg. Zoednîf ks nepgrtoftk jor o bgfgbkr ka prgjubtg o trovîs jka usg jk rkjks sgbnoaks. ?0.   KRZTOZKHNOR ?0. o)  o)  Kstrotkhno jk anjkrozhg kf bgstgs Gdtkfkr uf bgstg bgepktntnvg y jk vkfto oa püdanbg jk ekfgr bgstg kf bgeporobnòf o ags prgjubtgs (vornaaos jk =ee y 3 ektrgs) jk ao bgepktkfbno o trovîs jk aos snhunkftks gpkrobngfks<   Jnsenfunr ka bgstg jk prgjubbnòf rkjubnkfjg ka tnkepg jk prgbksgs.   Gptnenzor ka prgbksg jk gdtkfbnòf jk aos vornaaos.





d)  d)  Kstrotkhnos jk jnckrkfbnobnòf Nfbkftnvor o ags bgeprojgrks o ao ojqunsnbnòf jk fukstrg prgjubtg oa pudanbntor pudanbntorag ag ks aos boepoÿos jk bgfsuek prnekrg ag fukstrg ‑Prnekrg Kbuojgr―, poro nfbkftnvor ka usg jk eotkrno y eofg jk

gdro kbuotgrnofo. b)  b)  Kstrotkhno poro pkfktrobnòf kf ka ekrbojg Pudanbntor ka prgjubtg kf kvkftgs jk bgfstrubbnòf prgpukstgs pgr ao bïeoro jk bgfstrubbnòf kbuotgrnofo u gtrgs kvkftgs snenaorks, pkrg poro aakvor obodg kstg sk rkoanzorïf aos snhunkftks obtnvnjojks.   Tkoanzor nfvkrsngfks fkbksornos kf pudanbnjoj poro quk ka prgjubtg jkspkhuk jka ekrbojg.   Nfnbnor bgeg ouspnbnoftk kf jnckrkftks kvkftgs poro jor o bgfgbkr ka prgjubtg y su pgtkfbnoa kf ka ekrbojg.





 

BOPNZ[AG 2 KRZ[JNG ZÎBFNBG Nftrgjubbnòf Kstk kstujng tnkfk rkaobnòf bgf ka ospkbtg tîbfnbg-gpkrotnvg jka prgykbtg, ks jkbnr sk ofoanzo ao vnodnanjoj jksjk ka puftg jk vnsto tîbfnbg9 sk nfjnbo ka prgbksg prgjubtnvg, ka kqunpg fkbksorng, ao bopobnjoj jk ao paofto, su agboanzobnòf, ao enbrg agboanzobnòf nftkrfo jk ao paofto, su grhofnzobnòf y vnodnanjoj akhoa. O jkeïs sk jkcnfkf ags bgstgs y hostgs bgf rkspkbtg oa prgbksg prgjubtnvg jk ao paofto, tgjg ag quk sk jkdk tgeor kf bukfto poro ka prkbng jka prgjubtg. Gdlktnvgs -Skrncnbor ao pgsndnanjoj tîbfnbo jk ao codrnbobnòf jka prgjubtg, ofoanzofjg y jktkrenfofjg ka toeoÿg, ao agboanzobnòf, ags kqunpgs, aos nfstoaobngfks y ao grhofnzobnòf òptnegs rkqukrnjgs poro rkoanzor ao prgjubbnòf. -Gdtkfkr ao nfcgreobnòf fkbksorno poro buoftncnbor ka egftg jk aos nfvkrsngfks y jk ags bgstgs jk gpkrobnòf, quk sk rkcaklorïf kf ka ofïansns jk ao vnodnanjoj cnfofbnkro jk uf prgykbtg. -Jktkrenfor ags porïektrgs tîbfnbgs poro ao prgjubbnòf ?. ZOEOßG JKA PTG^KBZG Poro kstk ofïansns sk tgeo kf bukfto bgeg prnfbnpoa cobtgr ao jkeofjo jka prgykbtg gdtkfnjo kf ka kstujng jka ekrbojg, yo quk jksjk oquå sk ofoanzo ao bopobnjoj quk budrnrï ao paofto. Ks fkbksorng quk sk ofoanbk poro ufo jkeofjo ekfgr o ao paoftkojo. Ojkeïs, kf tgjg prgykbtg ks fkbksorng kstodakbkr ka toeoÿg òptneg jk ao paofto, ka buoa sk jkcnfk bgeg ao bopobnjoj nfstoaojo quk vo o tkfkr ao paofto. Kxnstkf vorngs tnpgs jk ektgjgaghåos poro pgjkr aghror gdtkfkr kstk toeoÿg òptneg. [fg jk kaags ks ka eîtgjg jk Aofhk, kf ka buoa sk bgfsnjkro ao rkaobnòf kftrk ao nfvkrsnòf nfnbnoa y ags bgstgs jk prgjubbnòf, pgr gtrg aojg, kxnstk ka eîtgjg jk ksboagfoenkftg jgfjk sk bgeporo ags jnstnftgs bgstgs y prgjubbnòf jk bojo turfg jk trodolg, oså bgeg aos bopobnjojks jk aos eïqunfos. BOPOBNJOJ JK PTGJ[BBNÒF [sofjg ka eîtgjg jk ksboaobnòf ka buoa jktkrenfo ao bopobnjoj òptneo jk prgjubbnòf oa bgfsnjkror ao bopobnjoj jk ags kqunpgs jnspgfndaks, ka kqunpg quk tnkfk ao ekfgr bopobnjoj ks jk 8 ufnjojks pgr enfutg nfcgreobnòf quk sk eukstro kf ao Zodao ?. Zodao >. Bopobnjoj jk prgjubbnòf

Enfutg

[fnjojks 8.?

Pksg (ih) 83.0:?3338

Pksg (Zgf) 0.0=

Mgro

:4=.?

:;34.;

:.;3

Jåo

3=;0.2

82000

82.00

Rkeofo

2:4;?.3

23;000

23;.00

Eks

?28003.:

?:30000

?:30.00

Oÿg

?3::083.=

?8;40000

?8;40.00

(Cukftk< Prgpno) Ao bopobnjoj jk ao eoqunforno kf ufo aåfko jk prgjubbnòf vnkfk jojo pgr ao bopobnjoj eïs pkqukÿo jk buoaqunkro jk ags kqunpgs kf kstk bosg ks jk 8 ufnjojks pgr enfutg.

 

Jkdnjg o quk ao jkeofjo boabuaojo kf ka kstujng jk ekrbojg oabofzo bncros jk mosto 400 tgfkaojos, sk paofko budrnr uf tgtoa jk =0% jk ao jkeofjo tgtoa jka prgykbtg, jkdnjg o ao foturoakzo jka prgjubtg. BGRZGR JK AOR EÏ_[NFOR Kf ao Zodao 4 sk eukstro ao boftnjoj y bgstgs jk mgro jk bojo eïqunfo, oså bgeg toednîf ka voagr tgtoa jk bojo eïqunfo skhüf su tnkepg jk gpkrobnòf. Poro ka bosg jk fukstro keprkso ka voagr tgtoa jk gpkrobnòf jk aos eoqunfos bgrrkspgfjk o $40 3;4,32. Zodao ?0. Bgstgs jk eïqunfos Eïqunforno Eïqu nforno

? 4 ?

$ $ $

;.3? $ 0.4? $ ;>.;0 $

0.80 0.02 8.::

Mgros jk trodolg jnorng ; = ;

?

$

?8.00 $

4.?2

;

$

?

$

;00.00 $

34.;0

=

$

?

$

;.?0 $

0.3:

=

$

;.?0 $

?04.00

4

$

;?.00 $

3.2=

=

$

;?.00 $

?,040.00

?

$

=;0.00 $

?03.4;

:

$

:4;.00 $

=,;00.00

Boft Boftnjoj njoj

Dïsbua o Ka k btrgfn bo Kqun pg jk Gx nbgrtk Hrüo tn pg pua pg Pukftk Hrüo kakbtrgeohfîtnbo Mgrfg jk orbg k a î btrn bg Eïqunfo jk bgaojo bgftnfuo An eojgro k f boa n kftk Mgrfg jk rkboakftoenkftg

Bgstg ($/j ($/jno) no) Bgstg ($/mg ($/mgro) ro)

ZGZOA

Bgstg tgtoa kf uf jno ($) $ 2.;? $ 0.4? $ 28.?>

Bgstg tgtoa oa eks 40 jnos ($) $ 80.?2 $ :.4; $ 8:2.8;

?0.32 $

4?4.;0

;00.00 $ ?0,000.00

$ ?,024.32 $ 40,3;4.32

(Cukftk< Prgpno)

GPKTOJGTKR Kf ao Zodao 2 y : sk eukstro ka bgstg jk bojo gpkrojgr quk eofnpuak aos eïqunfos, sk osuenò pohor uf soaorng dïsnbg o bojo gpkrojgr, tkfnkfjg uf bgstg tgtoa jka soaorng jk ags gpkrojgrks bgrrkspgfjnkftk o $ == 2?3,40. Zodao ??. Gpkrojgrks Eïqunforno

Lgrfojo

Gpkrojgrks

Roaorng ekfsuoa

Roaorng ofuoa

Tk bk pbn gf jk eotk rn os k n fsuegs jk a o pa ofto

-- -- - -- --

Eotutn fo

?

2>2

:8?3

Pksolk , bmkqukg jk borho, borho, jksorho jk bmotorro

Dïsbua o k a î btrgfn bo

Eotutn fo

?

2>2

:8?3

Hrüo tn pg pua pg

Eotutn fo

?

2>2

:8?3

Kqun pg jk gx n bgrtk

Eotutn fo

?

2>2

:8?3

- -- -- - --

Eotutn fo

?

2>2

:8?3

Eotutn fo

?

2>2

:8?3

Eotutn fo

4

300

?::00

Eotutn fo

?

300

8400

Eotutn fo

4

:00

>300

Eotutn fo

4

:00

>300

Gpkrobnòf

y trospgrtk o ao paofto jk rkbnbaolk. Baosncnbobngf jk ao bmotorro y vkrncnbobngf jk ao baosncnbobnòf Oa eobkfoen k ftg jk a o bmotorro Zrofspgrtk jk a o bmotorr bmotorro o oa Mgrfg Cufjnbngf jka ao Bmotoro Sktkr ao bgaojo y anfhgtkros Bgfcgreojg trotoenkftg tkrenbg jk ao dornaao k nfspkbbngf

Pukftk Hrüo kakbtrgeohfîtnbo Mgrfg jk orbg kakbtrnbg Eo Eoqunfo qunfo jk bgaojo bgftnfuo Aneojgro kf boankftk Mgrfg jk rkboakftoenkftg

ZGZOA JK R[KAJGR

3>0>3

OPGTZKR POZTGFOAKR OA NKRR

880:

JKBNEG ZKTBKT R[KAJG

;8;=

JKBNEG B[OTZG R[KAJG

;8;=

CGFJGR JK TKRKTSO

ZGZOA R[KAJGR ^ DKFKCNBNGR JK AK^

$

(Cukftk< Prgpno) 

==,2?3.40

 

Bopobnjoj jka prgykbtg Ao bopobnjoj eïxneo jk prgjubbnòf prgjubbnò f jk ao paofto bgrrkspgfjk o ao bopobnjoj jk ao eoqunfo eïs akfto kf ao aåfko jk prgjubbnòf. prg jubbnòf. Kftrk aos eoqunfos skakbbngfojos poro ka prgbksg jk prgjubbnòf jk vornaao, bgf 8 ufnjojks pgr enfutg, g :4= vornaaos pgr mgro. Dolg uf turfg jk = mgros jnornos, snf bgfsnjkror poros kf ao prgjubbnòf, sk pgjråo oabofzor ufo prgjubbnòf jk ?=?:28 ih jk vornaaos ofuoaks. Ksto skrï ao bopobnjoj jk jnskÿg. Omgro, bgfsnjkrofjg ufo pîrjnjo jka 0.;% kf vornaaos quk fg oprukdkf aos kspkbncnbobngfks sganbntojos, pîrjnjos jka ?% kf poros kf ao prgjubbnòf jkdnjos o rkolustks jk eoqunfo g pgsndaks jksnfbrgfnzobngfks kftrk eïqunfo y eofg jk gdro, sk tkfjrï ufo bopobnjoj jka snstkeo jk :40 vornaaos pgr mgro, g 3840 vornaaos jnornos. Cobtgrks jktkrenfoftks Jkeofjo< Rk kvnjkfbno kftgfbks quk ufg jk ags cobtgrks jktkrenfoftks poro ka toeoÿg jka prgykbtg ks ao jkeofjo, quk anento kf uf 40.>% ao bopobnjoj jk prgjubbnòf jk ao paofto. Zkbfgaghåo y kqunpgs< Poro ao prgjubbnòf fgreoanzojo jk vornaaos sk vukavk fkbksorng utnanzor ka eîtgjg jk prgjubbnòf kf skrnk, quk pkrentk oabofzor uf vgauekf jk prgjubbnòf kakvojg. Ks pgr kstg quk ka prgbksg jkdk skr bosn bgepaktoekftk outgeotnzojg. Kstg pkrentk gdtkfkr agtks eïs hrofjks kf ekfgr tnkepg. Grhofnzobnòf< Jkdnjg o quk ka pkrsgfoa ks anentojg kf ka prgbksg prgjubtnvg y sk rkqunkrk jk uf fnvka jk bgfgbnenkftg tîbfnbg gpkror ao eoqunforno, sk bgfsnjkro quk fg kxnstk anentobnòf kf buoftg o ao coato jk pkrsgfoa boancnbojg g oprgpnojg. Zoeoÿg gptneg Ks pgsndak sotnscobkr ao bugto jk prgjubbnòf jk vornaaos bgf uf turfg jk trodolg jk = mgros jnornos y bnfbg jåos aodgrodaks o ao skeofo. Kf bgeporobnòf bgf oatkrfotnvos jk lgrfojos jk ?0 y ?4 mgros g ka usg jk turfgs kxtro jk trodolg, ao lgrfojo jk = mgros hkfkro ka ekfgr bgstg jk nfvkrsnòf kf tgjgs ags hotgs jk prgjubbnòf bgeg< soaorngs, bgfsueg kfkrhîtnbg y jkprkbnobnòf jk eoqunforno. Ks pgr kstg quk sk bgfsnjkro quk ka toeoÿg òptneg jk ao paofto ks jk :40 vornaaos pgr mgro, ag quk pkrentk oprgvkbmor jk ao eofkro eïs òptneo ao eoqunforno. 4. AGBOAN\OBNÒF Cobtgrks quk jktkrenfof ao agboanzobnòf Ao jktkrenfobnòf jka toeoÿg rkspgfjk o uf ofïansns quk rkaobngfo uf hrof füekrg jk vornodaks jk uf prgykbtg< jkeofjo, jnspgfndnanjoj jk eotkrno prneo (bmotorro), (b motorro), cobnanjoj jk egvnanzobnòf, kftrk gtros. Ao jnspgsnbnòf jk nfsuegs toftg mueofgs bgeg eotkrnoaks, ks gtrg cobtgr quk bgfjnbngfo ao agboanzobnòf, yo quk sk fkbksntorï uf bgfstoftk kftrojo y soanjo jk vgaquktos aakfos jk bmotorro. Ags nfsuegs jkdkf kstor jnspgfndaks kf ao boftnjoj y boanjoj jkskojo puks jk gtrg egjg fg sk aghrorï ao prgjubbnòf ofuoa jk 400 tgfs ofuoaks, jk nhuoa eofkro sk jkdk tkfkr kf bukfto quk kxnsto ufo jnspgfndnanjoj jk bgedustndak, ohuo y kakbtrnbnjoj, yo quk sgf rkbursgs quk sk vof o fkbksntor poro pgfkr kf eorbmo o aos eoqunfos.

 

Ao jnspgsnbnòf jk nfsuegs ks uf cobtgr jktkrenfoftk poro ao udnbobnòf jka prgykbtg. Ks jkbnr, eïs aklgs kstk jk aos cukftks jk nfsuegs, eïs oatg skrï ka bgstg bgfskhunrags ag quk prgvgborï quk enkftros eïs ouekftk ka fnvka jk gpkrobnòf, eoygr skrï ka bgstg ufntorng jk ags nfsuegs poro ao kaodgrobnòf jk ao vornaao. Eobrg agboanzobnòf Kf dosk o ags cobtgrks quk sk tgeorïf kf bukfto, kftrk ags eïs nepgrtoftks kstïf ao jnspgfndnanjoj jk ao eotkrno prneo, cobnanjoj jk egvnanzobnòf y hkghrocåo.

Jnspgfndnanjoj jk eotkrno prneo Ao bmotorro quk sk prgbkso ks ojqunrnjo o fnvka fobngfoa y prgvnkfk jka skbtgr nfjustrnoa, jk ao hkfkrobnòf jk ao pgdaobnòf (outgs, bnanfjrgs jk hos, ktb), y jk aos rkskrvos mnstòrnbos (ckrrgborrnaks, bkekftkros, keprksos püdanbos). Ao eoygr portk prgvnkfk jk ao rkhnòf bgsto (80%) y ka 20% rkstoftk jk ao snkrro (Pgftòf,40?>). Zgeofjg kf bukfto quk ao eoygr boftnjoj jk bmotorro jk obkrg poro rkbnbaolk sk jo kf ao bgsto, y ksto ks nepgrtojo pgr oså jkbnrag o aos obkråos jk ao snkrro, pgr ag quk udnbor ao paofto kf ao rkhnòf antgroa rkprkskftorï uf hrof omgrrg jk egvnanzobnòf jk eotkrno prneo.

Cobnanjoj jk egvnanzobnòf Rn ofoanzoegs uf pgbg ao sntuobnòf, poro ka cufbngfoenkftg jk ao keprkso sk fkbksnto quk ags gpkrorngs fg tkfhof quk egvnanzorsk ufo hrof jnstofbno, puks kstg pgjråo nfburrnr kf hostgs gpkrotnvgs y gtrgs cobtgrks quk pgjråof ockbtor ao boanjoj jk ao eofg jk gdro. Ojkeïs, poro ka nfhrksg jk ao eotkrno prneo moy quk tkfkr kf bukfto quk sk ag rkoanzorï kf vgaquktos, boengfks y jkeïs outgegtgrks pksojgs pgr ag quk kstgs fg tkfjrïf uf andrk trïfsntg kf zgfos urdofos, ksto bgfjnbnòf gdanhoråo o paoftkor udnbor ao paofto kf ufo bnujoj quk fg sko bopntoa g o su vkz kf aos pkrnckrnos jk ufo bnujoj bopntoa. Pgrquk ufo bnujoj bopntoa, pgrquk oquå sk pukjk kfbgftror eofg jk gdro eklgr boancnbojo quk skrï jk eubmo oyujo kf ka prgbksg prgjubtnvg jk aos vornaaos.

Hkghrocåo Bgf oyujo jk Hgghak eops sk mo udnbojg hkghrïcnboekftk kf ka skbtgr jk Kbuojgr o aos keprksos eïs hrofjks jk obkrg quk prgjubkf vornaaos jk obkrg bgrruhojg quk kxnstkf kf ka poås, poro jktkrenfor uf puftg kf jgfjk kstos fg sk tkfhof ufo paofto gpkrotnvo yo quk kf kstgs skbtgrks ao jkeofjo jk kstk prgjubtg sk pukjk jkbnr quk kstï snkfjg sotnsckbmo, y sk aakhò o ao bgfbausnòf quk kf ao zgfo fgrtk jka poås fg moy obkråos cufbngfofjg, tgjos sk mof udnbojg kf aos bnujojks jk _untg, Huoyoquna, Eoftk, Aglo, Bukfbo y kf ao pkfåfsuao jk Rofto Kakfo. Pgr toftg, ks ufo gpbnòf euy cobtndak udnbor fukstro codrnbo kf ka fgrtk jka Poås, pgsndakekftk kf Ndorro g ka Zuabïf y pgr vkftolo jk ao zgfo bgstkro Ksekrojos. Rk tgeorïf kf bukfto gtrgs cobtgrks quk oa skr jncåbnaks jk ofoanzor buoantotnvoekftk sk aks gtgrhorï uf voagr buoftntotnvg kf dosk o ufo pgfjkrobnòf sgdrk bnkf pgr bnkftg y sk jkbnjnrï kf dosk o kstgs cobtgrks.

 

Zodao ?4. Ofïansns buoantotnvg jk cobtgrks rkakvoftks Cobtgrks Tkakvoftks

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Gpbnòf ? Ksekroajos 80 ;0

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Pgfjkrobnòf

Bkrbofåo jka ekrbojg Rkhurnjoj Bkrbofåo oa prgvkkjgr jk nfsuegs y eotkrnoaks Såos jk obbksg y trofspgrtk Rkrvnbngs dïsnbgs Jnspgfndnanjoj EG Ïrko jnspgfndak poro cuturos oepanobngfks Bgfjnbngfks tgpghrïcnbos k nfcrokstrubturo Eorbg luråjnbg ZGZOA

?

Gpbnòf 4 Ndorro 8 ;; ; ;;

Gpbnòf 2 Zuabïf ;,; :> ;,; ;2

4

2 :,> ;,2

(Cukftk Prgpno) Eobrg agboanzobnòf Kspkbncnbo Kf vnsto quk aos bgfjnbngfks sk prkstof poro udnbor ao keprkso kf Ksekroajos, omgro voegs o njkftncnbor ufo zgfo quk sk kfbukftrk bkrbo jk ao bopntoa g jk prkckrkfbno kf ao pkrnckrno jk ao bopntoa, quk bukftk bgf ufo våo jk cïbna cïbn a bnrbuaobnòf poro ags outgegtgrks jk borho pksojo. Rnkfjg uf auhor quk buepak bgf kstos bgfjnbngfks uf skbtgr o aos ocukros jk ao bnujoj jk Ksekroajos aaoeojg ‑Tng vkrjk―, sk kfbukftro o :0 enfutgs jk ao bopntoa.

Enbrg agboanzobnòf Poro jktkrenfor ufo enbrg agboanzobnòf sk paoftko kfbgftror uf tkrrkfg quk tkfho oprgxneojoekftk 4;00 e4 poro quk kxnsto kspobng sucnbnkftk poro pgjkr bgfstrunr ags hoapgfks fkbksorngs poro sntuor tgjo ao eoqunforno quk sk prktkfjk bgepror. Rk rkoanzò ao düsqukjo jk uf tkrrkfg oprgpnojg kf nftkrfkt kf Ekrbojg Andrk y GA] yo quk fg sk tuvg ao gpgrtufnjoj jk nr oa sntng o dusbor pgsndaks auhorks poro bgepror. Jk kftrk ags tkrrkfgs eïs covgrodaks sk jkbnjnò pgr ufg quk enjk oprgxneojoekftk 4=0.000e4 kf ao våo Tng vkrjk udnbojg kf ao trgfboa jka pobncnbg, bgf uf voagr jk $80000, kstk jotg cuk gdtkfnjg jka wkdsntk GA].

Cnhuro >. Enbrg agboanzobnòf jk ao zgfo jkstnfojo o ao agboanzobnòf jk ao keprkso (Cukftk< Hgghak Eops. (40?=). Gdtkfnjg jk< mttps, njkftncnbofjg bojo cosk. ?.?   Prgbksg jk baosncnbobnòf jk bmotorro. ?.? Ao bmotorro quk sk prgbkso ks ojqunrnjo o fnvka fobngfoa fobn gfoa y prgvnkfk jka skbtgr nfjustrnoa, oså bgeg jk ags jkskbmgs jk ao pgdaobnòf (bgbmks, bgbnfos, aovojgros, rkcrnhkrojgros, ktb.), y jk rkskrvos mnstòrnbos (ckrrgborrnaks, bkekftkros, keprksos püdanbos). Ao eoygr portk prgvnkfkf jk ao rkhnòf bgsto, oarkjkjgr jk uf 80% y uf 20% rkstoftk jk ao snkrro kbuotgrnofo. Ka prgbksg nfnbno bgf ka orrndg jk ao bmotorro. Rk rkoanzo ka pksolk jk ags vkmåbuags kf ufo dïsbuao kakbtròfnbo. [fo vkz pksojo k nfspkbbngfojo ao borho, sk baosncnbo pgr jkfsnjoj y agtks, Kstg sk rkoanzo kf ufo eïqunfo baosncnbojgro jk ao snhunkftk eofkro. Kf ka Ofkxg ? sk eukstro ka jnohroeo jk prgbksgs jka prgbksg jk prgjubbnòf jk vornaaos bgrruhojos jk skbbnòf bnrbuaor< • Bmotorro baosk O< Ks ao bmotorro ckrrgso jk eoygr jkfsnjoj, oquå sk udnbo ka eotkrnoa ckrrgsg

fovoa, rkstgs jk eoqunforno pksojo. Ao jkfsnjoj eåfneo jk ksto bmotorro ks jk =00 ih/e2

• Bmotorro baosk D< Bmotorro ckrrgso jk bmosns, vkmåbuags, portks jk eoqunfornos. Ao jkfsnjoj

eåfneo jk ksto bmotorro ks ;00 ih/e2.   Bmotorro baosk B< Eotkrnoa ckrrgsg jk jkskbmgs jk trgqukaojgros, aotos cnfos, vnrutos, mgloaotos ktb. 

Ka prgbksg jk baosncnbobnòf jk ao bmotorro sk rkoanzo jk jgs eofkros< • Eofuoa< Tkoanzojg pgr pkrsgfos quk klkbutof obtnvnjojks jk bgrtk (gxnbgrtk) y aanepnkzo nepnkzo jk

ao bmotorro. • Ekbïfnbo< Ekjnoftk ufo prkfso quk rkoanzo obtnvnjojks ob tnvnjojks jk bnzoaaojg, anepnkzo y trnturobnòf

(bgepobtojg) y o su vkz ekjnoftk neofks quk skporof ao bmotorro ckrrgso jk ao fg ckrrgso. Ka cnf jka usg jk ags neofks, ks poro skporor kakekftgs bgeg pageg, bgdrk, oauenfng, znfb, kstoÿg, drgfbk y kakekftgs nfjkskodaks poro ao cufjnbnòf jk obkrg. Ao bmotorro, ufo vkz andrk jk kakekftgs nfjkskodaks, sk bgepobto y jkdk tkfkr uf jnïektrg jk :0 be poro quk pukjo skr jkpgsntojo kf ka mgrfg jk cufjnbnòf. Rk trofspgrto ekjnoftk bodkzoaks bgahoftks y sk jksborho kf ao obkråo. ?.4   Prgbksg jk obkråo ?.4 [fo hrüo bgf uf kakbtrgneïf otrok ao bmotorro ckrrgso jk jnckrkftks tnpgs (O, D, B) quk sk kfbukftro oaeobkfojo oa nfnbng jk ao obkråo, poro aukhg bgagborao kf uf snstkeo tnpg rnka aaoeojg ‑bgfstkka― ka buoa tnkfk qukeojgrks poro rkoanzor uf prkboakftoenkftg jk ao bmotorro.

 

Cnhuro ?0. Rnstkeo jk boakftoenkftg y mgrfg jk orbg kaîbtrnbg

 

(Cukftk< 40??, pp.Eorbgzzn, =4->?.) E. Zmk kvgautngf gc prkmkotnfh ofj tmk nepgrtofbk gc tmk mgt mkka nf supkrsnzkj KOC systkes.

Ka bgfstkka tnkfk uf toenz trofspgrtojgr ka buoa gsbnao poro kepulor ao bmotorro enkftros rktnro bnkrtos portåbuaos nfjkskojos, pkrentnkfjg quk ao bmotorro sk voyo prkboakftofjg oftks quk nfhrksk oa mgrfg jk cufjnbnòf jk orbg kaîbtrnbg. Ao tkepkroturo jk prkboakftoenkftg kstï kftrk 200 °B y ;00 °B.  Ao bmotorro prkboakftojo nfhrkso oa orbg kaîbtrnbg, buyg prgbksg juro kftrk :; enfutgs o ? mgro y ks cufjnjo pgr ka boagr hkfkrojg jk ags orbgs kaîbtrnbgs, oabofzofjg ufo tkepkroturo jk cusnòf jk ?300 hrojgs bkftåhrojgs. Ka prgjubtg cnfoa jk ao cufjnbnòf jk ao bmotorro ks ka obkrg aåqunjg jkfgenfojg bgaojo, y pgr ekjng jk ufo vïavuao sk vnkrtk ao bgaojo mobno ao bubmoro rkcrobtorno, juroftk kstk prgbksg sk bgagbof nfsuegs y cufjkftks quk pkrentkf ao jksgxnjobnòf bgrrkbto jk ao bgaojo. Nfekjnotoekftk ao bubmoro rkcrobtorno jk bgaojo sk trofspgrto pgr ekjng jk uf pukftk hrüo o ufo eïqunfo jk bgaojo bgftnfuo, o buïa pgskk kf ka cgfjg uf g grncnbng rncnbng quk pkrentk ka vobnojg jka obkrg aåqunjg kf vorngs egajks aaoeojgs anfhgtkros buyo skbbnòf trofsvkrsoa tnkfk ao cgreo hkgeîtrnbo jk poaofqunaao. Ka kfcrnoenkftg sk rkoanzo jk eofkro bgftrgaojo, utnanzofjg ohuo quk ks suenfnstrojo pgr ekjng jk jubmos o eofkro jk rgbåg. Enkftros quk aos anfhgtkros sgf trofspgrtojos pgr uf snstkeo jk rgjnaags o ufo vkagbnjoj jk 4 e/s. [fo vkz gdtkfnjg ka prgjubtg cnfoa jk ao poaofqunaao ROK-?04> sk rkoanzo uf prgbksg jk nfspkbbnòf jk aos prgpnkjojks cåsnbos. Aos jnekfsngfks jk ao poaofqunaao sgf jk ?20x ?20 ee jk skbbnòf y : ektrgs jk agfhntuj. Ao poaofqunaao fg sk uso jnrkbtoekftk, pgr ag quk sk trofscgreo kf ka prgjubtg bgekrbnoa, y kstg sk aghro kf ao aoenfobnòf kf boankftk. ?.2  Aoenfobnòf kf boankftk Rk mobk posor ao poaofqunaao prkboakftojo kftrk rgjnaags quk hnrof o oato vkagbnjoj y kf skftnjg bgftrorng, rkjubnkfjg jk ksto eofkro su skbbnòf trofsvkrsoa jkdnjg o ao prksnòf klkrbnjo pgr kstgs. Kf kstk prgbksg ao poaofqunaao nfhrks cråo oa mgrfg jk rkboakftoenkftg, ka enseg quk boankfto ao eotkrno prneo kftrk =00 °B o ?400 °B. Pgstkrngrekftk aos poaofqunaaos oa rglg vnvg posof pgr ufo ekso trofspgrtojgro poro nfhrksor oa trkf jk aoenfobnòf bgepukstg jk 2 cosks< ?.2.?   Zrkf jk jksdostk< ?.2.? Oquå sk rkjubk ka kspksgr jk ao poaofqunaao o 32x;8 ee, ekjnoftk ka usg jk rgjnaags rgtotgrngs jk cgreo bnaåfjrnbo. Ao poaofqunaao sucrk ufo prnekro posojo euy anhkro poro rgepkr y kanenfor ufo bopo jk bosbornaao quk sk cgreo juroftk su pkreofkfbno kf ka mgrfg jk rkboakftoenkftg. ?.2.4   Zrkf nftkrekjng< ?.2.4 Cgreojg pgr jnstnftos bolos, pkrentk rkjubnr oüf eïs ao skbbnòf jka prgjubtg.

 

?.2.2   Zrkf obodojgr< ?.2.2 Ka prgbksg kxpkrnekfto su üatneo posojo pgr bolos, gdtkfnkfjg su hkgektråo jk bgrruhojg.

Cnhuro ??. Zrkf jk aoenfobnòf kf boankftk. Cukftk< Jgssnkr tkbfgaòhnbg. Cukftk< Eorbgzzn, E. Zmk kvgautngf gc prkmkotnfh ofj tmk nepgrtofbk gc tmk mgt mkka nf supkrsnzkj KOC systkes. 40??, pp. =4->?.

Ka prgjubtg poso pgr ufo paobo jk kfcrnoenkftg, pgr ufo bnzoaao quk bgrto kf ao agfhntuj bgekrbnoa y kfjkrkzo ka prgjubtg mosto gdtkfkr ufo vornaao bgrruhojo jk obkrg ROK-?04>. Bgstg jk eïqunfos kqunpgs y borobtkråstnbos Zodao ?2. Eïqunfos usojos kf ka prgbksg jk codrnbobnòf jk vornaaos

EO_[NFOTNO ^ K_[NPGR Dïsbuao Kaîbtrgfnbo Hrüo tnpg Puapg Kqunpg jk Gxnbgrtk Pukftk Hrüo Kakbtrgeohfîtnbo Mgrfg jk orbg kaîbtrnbg eïqunfo jk bgaojo bgftnfuo aneojgro kf boankftk Mgrfg jk rkboakftoenkftg

Bgstg [fntorng($) Boftnjoj 2,200.00 ? ?4,000.00 ? ?4;.00 4 >,;00.00 ? 400,000.00 ? 4,=00.00 ? ?:,000.00 ? ?8;,00>.00 ? ZGZOA

(Cukftk< Prgpno) Borobtkråstnbos jk ao eoqunforno • Dïsbuao kakbtròfnbo 

Prgvkkjgr< DJbge Snjo ütna< ; oÿgs Bopobnjoj< 40 tgfkaojos Tkfjnenkftg< 30 mgros jk trodolg bgftnfug Pgtkfbno< 4.; IX

Bgstg Zgtoa($) 2,200.00 ?4,000.00 4;0.00 >,;00.00 400,000.00 4,=00.00 ?:,000.00 ?8;,00>.00 :?3,=;>.00

 

Cnhuro ?4. Dïsbuao kakbtròfnbo.

 

Cukftk< DJbge

• Kqunpg jk gxnbgrtk

Prgvkkjgr< Bkftury Snjo ütna< ; oÿgs Bopobnjoj< mosto ?;0 ee jk kspksgr jk bgrtk. Tkfjnenkftg< :000 ee/m Pgtkfbno< --

Cnhuro ?2. Kqunpg jk gxnbgrtk BKFZ[T^ MBX-42P. Cukftk< ekrbojgandrk.bge • Hrüo 

Prgvkkjgr< RKFFKDGHKF Snjo ütna< ?; oÿgs Bopobnjoj< ?8 tgfkaojos Tkfjnenkftg< -Pgtkfbno< >4 IX

Cnhuro ?:. Hrüo tnpg puapg eorbo sffkdghkf. Cukftk< skffkdghkf.bge

 

• Pukftk hrüo kakbtrgeohfîtnbo 

Prgvkkjgr< IGFKBTOFKR Snjo ütna< 4 enaagfks jk bnbags jk trodolg. Bopobnjoj< ?4-:0 tgfkaojos Tkfjnenkftg< ?0 e/enf bgf borho bgepakto Pgtkfbno< 2=0 iX

Cnhuro ?;. Hrüo jk eofklg jk bmotorro. Cukftk< igfkbrofks.bge • Mgrfg jk cufjnbnòf 

Prgvkkjgr< -Snjo ütna< 20 oÿgs Bopobnjoj< =0 tgfkaojos Tkfjnenkftg< ; tgf/mgro Pgtkfbno< ?000 IX

Cnhuro ?3. Mgrfg jk cufjnbnòf jk orbg kaîbtrnbg. Cukftk< oandodo.bge • Eïqunfo jk bgaojo bgftnfuo  Prgvkkjgr< Dkst ZKBM Snjo ütna< ?0 oÿgs Bopobnjoj< ?0 tgfkaojos Tkfjnenkftg< ; tgf/mgro Pgtkfbno< 4:?; iX

 

 

Cnhuro ?8. Bubmoròf jk cufjnbnòf. Cukftk< oandodo.bge  • Aoenfojgro kf boankftk 

Prgvkkjgr< MGFHZKF Snjo ütna< ?0 oÿgs Bopobnjoj< ; tgf Tkfjnenkftg< ; tgf/mgro Pgtkfbno< ?;0 IX

Cnhuro ?=. Aoenfobnòf jk dorros jk rkcukrzg kf aåfko. Cukftk< oandodo.bge  • Mgrfg jk rkboakftoenkftg 

Prgvkkjgr< ]NFIK Snjo ütna< ?0 oÿgs Bopobnjoj< -2-40 tgfkaojos Tkfjnenkftg< ?? tgf/mgro Doaofbk jk kfkrhåo  kfkrhåo  Poro rkoanzor ka doaofbk jk kfkrhåo, sk bgfsnjkrof ags bgfbkptgs pgr kftrojos y soanjos üfnboekftk jka prgbksg jk gdtkfbnòf jka prgjubtg o portnr jk su kftrojo oa mgrfg mosto ao soanjo jka mgrfg jgfjk sk bgrtorïf ags kakekftgs bgf uf qukeojgr gxn-hos. Rk trodolorï bgf ao bopobnjoj eïxneo jka mgrfg. Kftrojos< Ags bgfbkptgs pgr kftrojos sgf< - 

Tkobbngfks _uåenbos Oa rkoanzor ao cufjnbnòf jk eotkrnoaks, sk tnkfk quk ka bordgfg, ka mnkrrg, ka snanbng, ka eofhofksg y ka còscgrg opgrtof bgf kfkrhåo. Poro ufo tgfkaojo jk obkrg aåqunjg ags voagrks sgf ags snhunkftks<

 

Zodao ?:. Kakekftgs quåenbgs kf ka obkrg 

- 

Kakekftg

iXm/ ZObkrg Aåqunjg 

B Ck Rn Ef P

=: ;= ?4 : 4

Boagr skfsndak kf ka mgrfg Fg sgag ao kfkrhåo kaîbtrnbo nftkrvnkfk, snfg toednîf ka boagr skfsndak jk ags kakekftgs oa kstor kf ka mgrfg. (Anzbofg, ?>>3). ?> >3). Ags kakekftgs quk sk cgreof kf ao ekzbao sgf< Ck, CkG, B, Bog, EhG, RnG 4, Oa4G2. Ags rksuatojgs gdtkfnjgs sgf ags snhunkftks< Zodao ?;. Kakekftgs quåenbgs cgreojgs kf ka mgrfg  

- 

Kakekftg

iXm/ ZObkrg Aåqunjg 

Ck CkG

:2,>; 3,4;

B BoG EhG

4,:> ?,2 0,;;

RnG4 

?,:8

Oa4G2  ZGZOA

?,0; ;8,03

Cgreobnòf jk ksbgrno Ao såanbk, ao oaüenfo y ka òxnjg jk còscgrg cgreof bgepukstgs quåenbgs bgf ka òxnjg jk boabng. Ao såanbk cgreo uf bgepukstg aaoeojg snanbotg jnbïabnbg (4BoGRnG 4), ao oaüenfo cgreo oauenfotg trnboabnbg (2Bo0.Oa 402) y ka òxnjg jk còscgrg cgreo uf bgepukstg aaoeojg pkftòxnjg jk còscgrg tktrobïabnbg (:BoG.P4G;). Borags Anzbofg gdtuvg ags snhunkftks rksuatojgs< Zodao ?3. Kakekftgs quåenbgs cgreojgs kf ka mgrfg

Kakekftg

iXm/ ZObkrg Aåqunjg 

2Bo0.Oa402 

0,0?

4BoGRnG4 

?0,:4

:BoG.P4G;  ZGZOA

0,=3 ??,4>

- 

Kakbtrgjgs Ags kakbtrgjgs prkskftks kf ka mgrfg hkfkrof ufo kftrojo toednîf, skhüf ka codrnboftk ks jk ??iXm/ZObkrg Aåqunjg.

- 

Bordòf Rkhüf Anzbofg, ka bordòf prkskftk kf ka oednkftk pukjk aakhor o nfykbtor mosto 4iXm/Borags ZObkrg Aåqunjg.

 

- 

_ukeojgr gxn-hos Rkhüf ka codrnboftk, ka qukeojgr gxn-hos opgrto bgf 38 iXm/ Z Obkrg Aåqunjg. 

- 

Kfkrhåo Kaîbtrnbo Ao pgtkfbno jka mgrfg ks jk 4:?; iX y su rkfjnenkftg ks jk ; Z/mgro. Kftgfbks, ao kfkrhåo poro ufo tgfkaojo ks jk< 4:?; iX ?Z ∞

;

Z mgro

5 := :=2 2i iXm Xm 

Roanjos< Ags bgfbkptgs pgr kftrojos sgf< - 

Boagr skfsndak jka obkrg Poro ufo ekzbao jk vornaaos, sk tnkfk skhüf Borags Anzbofg ags snhunkftks voagrks< Zodao ?8. Kakekftgs quåenbgs y su boagr skfbndak  

Kakekftg

- 

Ck B

iXm/ ZObkrg Aåqunjg  2==,2: 0,3

Ef Rn P Rn Bu Fn Eg Br ZGZOA

0,2: 0,0? 0,0; 0,03 0,2; 0,2? 0,04 0,42 2>0,2?

Boagr skfsndak jk ao ksbgrno Ao ksbgrno sk hkfkrojo sk jkdk o ags kakekftgs jk CkG, Ck 4G2, EfG, P4G2, B 4G, EhG, RnG4, Oa4G2, R, B (oporkbk bgeg durdulos) y gtrgs fg nepgrtoftks. Rk tnkfk skhüf Borags Anzbofg ags snhunkftks voagrks< Zodao ?=. Kakekftgs quåenbgs sgdroftks y su boagr skfsndak  

Kakekftg

iXm/ ZObkrg Aåqunjg

CkG Ck4G2  EfG P4G2  B4G EhG RnG4  Oa4G2  R B

?0,?= 0,00? ?,0; 0,3= ?;,02 =,:? >,2= :,0? 0,0: 0,000?

 

Gtrgs ZGZOA - 

4,=? ;?,;>??

Pgjkr Boagråcnbg jk ags hosks jk soanjo Kstk bgfbkptg sk jkdk o quk portk jka BG fg rkobbngfo, kf cufjnbngfks hkfkroaekftk rkprkskfto ka =;% jk ao ekzbao BG + BG 4. Poro ao prgjubbnòf jk ufo tgfkaojo jk obkrg aåqunjg sk tnkfk quk ao ekzbao jk BG + BG4 ks jk ??8.3; iXm/Z obkrg aåqunjg. Ags gtrgs hosks o ao soanjo fg opgrtof bgf uf pgjkr boagråcnbg snhfncnbotnvg. Kftgfbks ao kfkrhåo jk soanjo ks ka =;% quk jo bgeg rksuatojg< ?00 iXm/ Zobkrg aåqunjg

- 

Boagr skfsndak jk hosks y jk soanjo jk pgavgs (CkG) O ao soanjo sk tnkfkf hosks jk BG, BG 4, F4, M4G, G4, P y pgavgs (CkG). Rk tnkfk skhüf Borags Anzbofg ags snhunkftks voagrks< Zodao ?>. Boagr skfsndak jk hosks y soanjo jk pgavgs  

Kakekftg

iXm/ ZObkrg Aåqunjg

BG

?8,3;

BG4  F4  M4G G4  P Pgavgs (CkG) ZGZOA

??,3; ?:,22 ?8,>3 0,:3 ?;,03 ?3,04 >2,?2

- 

Tkjubbnòf jk òxnjg jk mnkrrg Rkhüf Borags Anzbofg, sk tnkfk ao rkjubbnòf jk mnkrrg kf ufo tgfkaojo jk obkrg aåqunjg prgjubnjo, bgfsuek ;2 iXm/ ZObkrg Aåqunjg oprgxneojoekftk.

- 

Pîrjnjos tkregkaîbtrnbos

Aos pîrjnjos tkregkaîbtrnbos sk jnvnjkf kf pîrjnjos pgr kfcrnoenkftg, pîrjnjos pgr opkrturo jk dòvkjo, pîrjnjos pgr jkegros y pîrjnjos kaîbtrnbos. Rkhüf ka codrnboftk jka mgrfg aos pîrjnjos pgr kfcrnoenkftg, opkrturo jk dòvkjo y pîrjnjos kaîbtrnbos sk tnkfk quk ks jk 8= iX, 4; iX y 4 iX rkspkbtnvoekftk. Rk osuek uf voagr jk ?0 iX poro aos pîrjnjos pgr jkegros. Kstg, jo uf tgtoa jk ??; iX pgr ka bgfbkptg jk pîrjnjos tkregkaîbtrnbos.

 

Doaofbk jk Kfkrhåo (Tksuekf)< Eotkrnos prneos

Bgfbkptg

Kftrojos iXm/ ZObkrg Aåqunjg  

Roanjos %

Bgfbkptg

iXm/ ZObkrg Aåqunjg  

%

Obkrg

2>0

:=,;%

Ksbgrno

;4

3,;%

?00

?4,:%

Tkobbngfks _uåenbos< B

=:

Ck

;=

Rn

?4

?,;%

BG

?=

4,4%

Ef

:

0,;%

BG4

??,8

?,;%

P

4

0,4%

F4

?:,:

?,=%

M4G

?8,>3

4,4%

?0,:% Pgjkr boagråcnbg jk ags hosks 8,4% Boagr skfsndak hosks y pgavgs<

Boagr Rkfsndak kf mgrfg

;8

8,?%

G4

0,:3

0,?%

Cgreobnòf jk ksbgrno

??

?,:%

P

?;,03

?,>%

Kakbtrgjgs

4:

2,0%

Pgavgs (CkG)

?3,04

4,0%

_ukeojgr Gxn-hos

38

=,2% Tkjubbnòf jk Mnkrrg

;2

3,3%

Kfkrhåo kaîbtrnbo

:=2

30,?% Jnaubnòf jk bordgfg

0,:

0,0%

Bordòf

4

0,4% Pîrjnjos tkreg-kaîbtrnbos ??; ?:,2% ZGZOA =0: ?00% ZGZOA =0: ?00,0% Aos eotkrnos prneos fkbksornos poro ao codrnbobnòf jk vornaaos bgrruhojos sgf üfnboekftk eotkrnoaks jk bmotorro, jk mnkrrg y obkrg, ka buoa skrï rkbkptojg o trovîs jk uf bkftrg bgf trodolojgrks y jkeïs mkrroenkftos. Eotkrnoaks nfjustrnoaks Ags eotkrnoaks nfjustrnoaks fkbksorngs sgf ags snhunkftks eotkrnoaks< Bordgfg Rnanbng Eofhofksg Cgscgrg Kstgs kakekftgs sgf bgeprojgs kf uf ekrbojg jk quåenbgs, buygs bgstgs skrïf jksbrntgs pgstkrngrekftk. Zodao 40. Bgstgs jk eotkrnoaks  

Eotkrnoaks Bordgfg Rnanbng Eofhofksg Cgscgrg

Boftnjoj [fnjoj Bgstg [fntorng ? Zgf $ 4000.00 0.2 Zgf $ ?400.00 0.4 Zgf $ ?000.00 0.? Zgf $ ??00.00 ZGZOA

Ekfsuoa $ 4000.00 $ 230.00 $ 400.00 $ ??0.00

Ofuoa $ 4:000 $ :240.00 $ 4:00.00 $ ?240.00 $ ;00:0.00

 

Eotkrnoaks Ouxnanorks Kfvosks, ojntnvgs, obkntks, hrosos, crofkaos, eofjnaks, huoftks, hocos jk prgtkbbnòf, bosbgs, zopotgs jk skhurnjoj, eosbornaaos. Zodao 4?. Eotkrnoaks ouxnanorks Eotkrnoa

Bgfsueg ekfsuoa

bgstg ufntorng ($)

Bgstg ekfsuoa ($)

?4 4; ?; 4 ?

?4 ?.02 0.:; 30 :0

?:: 4;.8; 3.8; ?40 :0 Zgtoa

Audrnboftks YatU Jnkska YHoaU Ohuo YeV2U Kqunpgs jk Anepnkzo YuU Ruenfnstrgs jk Gcnbnfo YuU

Bgstg ofuoa

$

?84= 20> =? ?::0 :=0 :,02=.00

(Cukftk< Prgpno)

Rkrvnbngs Kakbtrnbnjoj, ohuo, vopgr, bgedustndak, nftkrfkt, trofspgrtk, tkaîcgfg. Zodao 44. Zodao jk skrvnbngs Rkrvnbng

Bgstg ekfsuoa

Bgstg Ofuoa

;0

300

?4;0

?;000

Zkakcgfg

30

840

Nftkrfkt

;;

330

Ohuo Kakbtrnbnjoj

Zgtoa

$

?3,>=0.00

(Cukftk< Prgpno)

Bgepgsnbnòf òptneo poro ao kaodgrobnòf jk vornaaos bgrruhojos jk obkrg Pgr fgreo, ao bgepgsnbnòf quåenbo jk aos vornaaos jk obkrg jkdk kstor kftrk ags snhunkftks voagrks< Zodao 42. Bgepgsnbnòf gptneo jk vornaaos  

Kakekftg Eåfneg % Eïxneg % Bordgfg 2,4 2,3 Rnanbng 2 2,3 Eofhofksg 0,8; 0,= Ozucrk 0,0= eïxneg Còscgrg 0,: 0,3

Jkftrg jk ao eotkrno prneo, sk pukjk kfbgftror bmotorro bgf ka snhunkftk tnpg jk bgepgsnbnòf bgepgsnb nòf y bgstg (Zorros, 4003)<

 

Zodao 4:. Znpgs jk bmotorro y bgepgsnbnòf  

Orrodng ? Orrodng 4 Orrodng 2 Bmotorro ?

B% 2,; 2,4 2,; 2,;

Rn % 2 ?,; 4,; ?,=

Ef % ? 0,; 0,= 0,3

R% 0,04 0,0? 0,04 0,0=

P% 0,: 0,= 0,; 0,;

Bgstg $/IH 4 4,? 4,4 ?

Bmotorro 4 Ckrrg Rnanbgf

2,4 ---

?,4 ;0

0,3 ---

0,? ---

0,: ---

?,4 ;

Osuenkfjg quk kf ka prgbksg jk cufjnbnòf sk tnkfkf aos snhunkftks pîrjnjos y hhofofbnos< ofofbnos<

Zodao 4;. Pîrjnjos y hofofbnos jka prgbksg jk cufjnbnòf  

Bordgfg Rnanbng Eofhofksg

Hofofbno Pîrjnjo Pîrjnjo

:,;0% ?0% 40%

Bgf kstgs cobtgrks, sk pukjk trojubnr o uf prgdakeo jk enfnenzobnòf jgfjk sk tnkfk quk ao cufbnòf gdlktnvg y aos rkstrnbbngfks sgf aos snhunkftks< Enfnenzor< \5400]?+4?0]4+440]2+?00]:+?40];+;00]3  Rulktg o aos snhunkftks rkstrnbbngfks< rks trnbbngfks< 2,3;8;]? + 2,2::]4 + 2,3;8;]2 + 2,3;8;]: + 2,2:]; ≪ 2,3  2,3;8;]? + 2,2::]4 + 2,3;8;]2 + 2,3;8;]: + 2,2:]; ≫ 2,4  4,8

]? + ?,2; ]4 + 4,4; ]2 + ?,34

]: + ?,0=]; + :;]3 ≪ 2,3 

4,8

]? + ?,2; ]4 + 4,4; ]2 + ?,34

]: + ?,0=]; + :;]3 ≫ 2 

0,=

]? + 0,: ]4 + 0,3: ]2 + 0,:=

]: + 0,:=]; ≪ 0,= 

0,=

]? + 0,: ]4 + 0,3: ]2 + 0,:=

]: + 0,:=]; ≫ 0,8; 

0,04

]? + 0,0? ]4 + 0,04

]2 + 0,0= ]: + 0,? ]; ≪ 0,0= 

0,:

]? + 0,= ]4 + 0,;

]2 + 0,;

]: + 0,: ]; ≪ 0,3

0,:

]? + 0,= ]4 + 0,;

]2 + 0,;

]: + 0,: ]; ≫ 0,: 

]? + ]4 + ]2 + ]: + ]; +]35 ? ]?, …, ]3 ≫ 0 

Rk rksukavk ka prgdakeo jk enfnenzobnòf kepakofjg ka sgctwork jk AnP Rgavkr. Poro kaag, sk nfhrkso ao cufbnòf gdlktnvg y aos rkstrnbbngfks kf ao nftkrcoz bgeg sk eukstro kf ao snhunkftk neohkf<

 

  Cnhuro ?>. Enfnenzobnòf kf prghroeo ANP Rgavkr. Cukftk< Prgpno 

Ao rkspuksto ks ao snhunkftk bgednfobnòf< Zodao 43. Tkspukstos gdtkfnjos jka prghroeo ANP Rgavkr  

Sornodak Orrodng ? Orrodng 4 Orrodng 2 Bmotorro ? Bmotorro 4 Ckrrg Rnanbgf

x? x4 x2 x: x; x3

Soagr 0,=302 0 0 0,08:> 0,0;23 0,0??

Pgrag toftg, ao eotkrno prneo o kepakor eoygrntornoekftk kf ao codrnbobnòf ks ka orrodng ? y ao bmotorro tnpg ? y4 luftg bgf ka ckrrg snanbòf poro enfnenzor ags prkbngs y gdtkfkr vornaaos bgf ao bgepgsnbnòf ojkbuojo. JNRZTND[BNÒF KF PAOFZO JK AO EO_[NFOTNO ^ K_[NPGR AO^G[Z Kf kstk oportojg ag quk sk dusbo ks enfnenzor ka eofklg jk eotkrnoaks, rkjubnr ka rnkshg poro ags kepakojgs, kqunandror ka prgbksg jk prgjubbnòf, enfnenzor nftkrckrkfbnos jk aos eïqunfos y pgr ag toftg gptnenzor ao eofg jk gdro. Ao jnstrndubnòf jk ao nfcrokstrubturo sk nfjnbo kf ka Ofkxg 4. :. GTHOFN\OBNÒF

Aos grhofnzobngfks dosojos kf prgykbtgs sgf oqukaaos buyos gpkrobngfks sk bgepgfkf prnfbnpoaekftk jk prgykbtgs. Kstg pukjk jorsk kf jgs bosgs g botkhgråos9 poro ka bosg jk kstk prgykbtg sk mo tgeojg kf bukfto ka tnpg jk grhofnzobnòf grnkftojo o ao prgjubbnòf.

 

Grhofnzobnòf Grnkftojo o ao Prgjubbnòf Ksto grnkftobnòf ojenfnstrotnvo kfcgbo ags gdlktnvgs bgekrbnoaks o ao bopobnjoj bopobn joj prgjubtnvo jk ao keprkso, kstk tnpg jk grhofnzobnòf sk kfcgbo kf ao prgjubbnòf yo quk ao jkeofjo supkro ao gckrto, pgr ag quk kstk tnpg jk grhofnzobnòf grho fnzobnòf ks euy bgfvkfnkftk poro eoftkfkr uf brkbnenkftg jk ao prgjubbnòf o uf bgstg rkjubnjg

Cnhuro 40. Grhofnzobnòf grnkftojo o ao prgjubbnòf Cukftk< Prgpno 

;. EOTBG AKHOA Ka eorbg akhoa prgpgrbngfo aos dosks sgdrk aos buoaks aos nfstntubngfks bgfstruykf y jktkrenfof ka oabofbk y foturoakzo jk ao portnbnpobnòf pgaåtnbo. Kf ka eorbg e orbg akhoa rkhuaorekftk sk kfbukftrof kf uf dukf füekrg jk prgvnsngfks pr gvnsngfks rkhuaotgrnos y akyks nftkrrkaobngfojos kftrk så, (Roavojgr Rïfbmkz Bruz, 40?3) Kf ksto portk jka kstujng tîbfnbg sk ofoanzo sn ao keprkso ks vnodak akhoaekftk, ks jkbnr fg tnkfk nepkjnekftgs skhüf ags kstotutgs y bòjnhgs nepakekftojgs kf ao rkhnòf o nfstoaorsk ao keprkso. Bgf ags puftgs oftks kstodakbnjgs poro pgjkr pg jkr brkor ufo fukvo keprkso sk pujg vkrncnbor quk ka prgykbtg oboto ags rkhaoekftgs y fg ockbto fn jk eofkro sgbnoa g oednkftoa oa auhor jgfjk sk kspkro aakvorag o bodg. Poro su cufbngfoenkftg sk jkdk obotor bnkrtos jnspgsnbngfks luråjnbos vnhkftks, aos buoaks sk jktoaaof o bgftnfuobnòf. BOTOBZKTÅRZNBOR C[FJOEKFZOAKR JK AO BGEPOßÅO JK TKRPGFRODNANJOJ ANENZOJO o) Egftg eåfneg poro bgfstntunr [R $ :000 d) Ka bopntoa jkdk kstor pohojg oa bgfstntunr ao bgepoÿåo, g kf uf ouekftg jk bopntoa, eåfneg ka ;0% y ka soajg kf uf oÿg. b) Füekrg jk sgbngs poro bgfstntunr eåfneg 4 eïxneg ?;. Aukhg jk bgfstntunjo fg pukjk sudsnstnr bgf uf sòag sgbng. j) Ka bopntoa kstï jnvnjnjg kf portnbnpobngfks. Ao Bgepoÿåo jk Tkspgfsodnanjoj Anentojo, pukjk kstodakbkrsk poro buoaqunkr obtnvnjoj bgekrbnoa, kxbkptg ao dofbo, ags skhurgs y aos cnfofzos Tkqunsntgs poro su cufbngfoenkftg  cufbngfoenkftg  T[B (Tkhnstrg Üfnbg Jk Bgftrnduykftks)

 

Bgrrkspgfjk o uf füekrg jk njkftncnbobnòf poro tgjos aos pkrsgfos foturoaks y sgb sgbnkjojks nkjojks quk rkoanbkf oahufo obtnvnjoj kbgfòenbo kf ka Kbuojgr, kf cgreo pkreofkftk u gbosngfoa g quk skof tntuaorks jk dnkfks g jkrkbmgs pgr ags buoaks jkdof pohor nnepukstgs. epukstgs. Jnbmg prgykbtg sk bkftrorï kf skr uf prgykbtg kf sgbnkjoj poro ags buoaks sk fkbksnto ags snhunkftks porïektrgs. Rgbnkjojks   Cgreuaorng 0?O ^ 0?D   Ksbrnturos jk bgfstntubnòf Fgedroenkftg jka Tkprkskftoftk akhoa g ohkftk jk rktkfbnòf.   Prkskftor ka grnhnfoa y kftrkhor ufo bgpno jk ao bkjuao jka Tkprkskftoftk Akhoa g Ohkftk jk Tktkfbnòf.   Prkskftor ka grnhnfoa jka bkrtncnbojg jk vgtobnòf jka üatneg prgbksg kakbtgroa jka Tkprkskftoftk Akhoa g Ohkftk jk Tktkfbnòf.   Kftrkhor ufo bgpno jk uf jgbuekftg quk bkrtncnquk ao jnrkbbnòf jka jgenbnang cnsboa o fgedrk jka sulktg posnvg.   Anbkfbno Ektrgpgantofo jk Cufbngfoenkftg jka Eufnbnpng jk Ksekroajos 

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Ks ka jgbuekftg modnantoftk poro ka klkrbnbng jk buoaqunkr obtnvnjoj kbgfòenbo jkftrg jka Jnstrntg jk Ksekroajos, quk(NB[R), nftkhrof aos jnckrkftks jn ckrkftks outgrnzobngfks ojenfnstrotnvos toaks bgeg< [RG ^ Gbupobnòf jka Rukag Rofnjoj, Prkvkfbnòf jk Nfbkfjngs, Njkftncnbobnòf jk aos Obtnvnjoj Kbgfòenbo (Tgtuag), Oednkftoa, Zurnseg y pgr bgfvkfng jk bggpkrobnòf Enfnstkrng jka Nftkrngr (nftkfjkfbno jk Pganbåo). Ao A[O[ sk kfbukftro kstodakbnjo kf ao Grjkfofzo 20=. Poro gdtkfkr ao Anbkfbno Ektrgpgantofo jk Cufbngfoenkftg Pkrsgfo Luråjnbo<        

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Bgpno jk Ksbrnturo jk Bgfstntubnòf (prnekro ( prnekro vkz) Ortksofgs< Boancnbobnòf ortksofoa Tkqunsntgs ojnbngfoaks poro ags kstodakbnenkftgs quk jkskkf bgagbor pudanbnjoj kxtkrngr< Outgrnzobnòf fgtornojo jka jukÿg jka prkjng (kf bosg jk fg skr agboa prgpng).

  Kf bosg jk prgpnkjoj mgrnzgftoa< Outgrnzobnòf fgtorno jk ao Osoedako jk Bgprgpnktorngs g jka Ojenfnstrojgr bgeg rkprkskftoftk akhoa.   Jnekfsngfks y cgtghrocåo jk ao cobmojo jka agboa (KRZODAKBNENKFZGR BGF P[DANBNJOJ K]NRZKFZK).   Jnekfsngfks y dgsquklg jk bòeg qukjoråo ao pudanbnjoj (P[DANBNJOJ F[KSO).

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Potkftk Eufnbnpoa (Ksekroajos) Ks ufo bgftrndubnòf nepuksto y bgdrojo pgr ka Eufnbnpng Rgdrk ka Sgauekf jk Fkhgbng (Nfhrksg Drutg) o tgjo pkrsgfo jkjnbojo o ao prkstobnòf jk buoaqunkr skrvnbng. Ao Potkftk Eufnbnpoa ks uf nepukstg quk hrovo o tgjo pkrsgfo foturoa g luråjnbo quk klkrzo ufo obtnvnjoj bgekrbnoa y gpkrk kf ka Jnstrntg Ektrgpgantofg jk _untg y ks bgdrojg pgr ka Eufnbnpng. Poro gdtkfkr kstk jgbuekftg sk fkbksnto jk ag snhunkftk sko poro pkrsgfos foturoaks pgr prnekro vkz sk rkoanzo ka snhunkftk prgbkjnenkftg<

 

  Prkskftor ka cgreuaorng jk jkbaorobnòf jka T[B grnhnfoa y bgpno, Enfnstkrng jk Cnfofzo y cgreuaorng jk nfsbrnpbnòf quk sk ojqunkrk kf rkboujobngfks.   Prkskftor ao paofnaao jk eklgros kentnjos pgr ka jkportoekftg jk Roauj Püdanbo g Bgftrga Rofntorng, poro aos obtnvnjojks bgekrbnoaks quk rkqunkrkf ka pkrensg jk cufbngfoenkftg.   Bgpnos jk bkjuao jk bnujojofåo y popkakto jk vgtobnòf obtuoanzojo. ne pukstg prkjnoa.   Bgpno jka pohg jka nepukstg Tkhnstrg Potrgfoa (NKRR) 

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Buoaqunkr keprkfjkjgr jkdk tkfkr baorg quk ao gdtkfbnòf jk ao baovk jk kepakojgr ks ka nfnbng jka trïentk, yo quk oså ks ao üfnbo cgreo jk pgjkr ocnanor o ags kepakojgs oa Rnstkeo jka Rkhurg Rgbnoa y buepanr bgf ao Aky. (Nfstntutg Kbuotgrnofg jk Rkhurnjoj Rgbnoa, 4040) Tkhnstrg Potrgfoa kf ka Rnstkeo jk Mnstgrno Aodgroa< (sganbntuj jk baovk poro Kepakojgr).   Nfhrksor o ao pïhnfo wkd jka NKRR kf skrvnbngs pgr Nftkrfkt   Ksbghkr Kepakojgrks ‒ Obtuoanzor jotgs jka rkhnstrg potrgfoa.   Ksbghkr ka skbtgr oa quk pkrtkfkbk (prnvojg, püdanbg g jgekstnbg).   Nfhrksor ags jotgs gdanhotgrngs quk tnkfkf ostkrnsbg.   Jnhntor ka füekrg jk T[B y (Kf bosg jk jgekstnbo jnhntor ka füekrg jk bkjuao).   Rkakbbngfor ka tnpg jk kepakojgr. Kf rksuekf, jka Tkhnstrg jk Kepakojgr oa cnfoa jka cgreuaorng sk bvnsuoanzorï neprnenr sganbntuj 

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jk baovk. [fo vkz rkhnstrojgs ags jotgs sganbntojgs, tnkfk quk obkrborsk o aos gcnbnfos jk Mnstgrno Aodgroa jka Bkftrg jk Otkfbnòf [fnvkrsoa jka NKRR o sganbntor ao baovk jk kepakojgr, bgf ags snhunkftks jgbuekftgs<   Rganbntuj jk Kftrkho jk Baovk (neprkso jka Nftkrfkt).   Bgpno jka T[B (kxbkptg poro ka kepakojgr jgekstnbg).   Bgpnos jk aos bkjuaos jk njkftnjoj o bgagr jka rkprkskftoftk akhoa y jk su jkakhojg kf bosg jk outgrnzor rktnrg jk baovk.   Bgpnos jk aos popkaktos jk vgtobnòf jk aos üatneos kakbbngfks g jka bkrtncnbojg jk odstkfbnòf jka rkprkskftoftk akhoa y jk su jkakhojg, kf bosg jk outgrnzor ka rktnrg jk baovk.

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jk pohg jk uf skrvnbng dïsnbg boancnbojg. (ohuo, auz g tkaîcgfg).    Bgpno Boancnbobnòf ortksofoa sn ks ortksofg   Grnhnfoa jk ao bkjuao jk bnujojofåo.

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Pkrensg jk Cufbngfoenkftg jka Bukrpg jk Dgedkrgs ‑Ka pkrensg jk cufbngfoenkftg ks ao outgrnzobnòf outg rnzobnòf quk ka Bukrpg jk Dgedkrgs kentk o tgjg agboa poro su cufbngfoenkftg y quk sk kfeorbo jkftrg jk ao obtnvnjoj―. (Eufnbnpng jka

Ksekroajos, 4040) ZNPG O Keprkso, nfjustrnos, codrnbos, dofbgs, kjncnbngs, paoftos jk kfvosojg, mgtkaks jk aulg, bkftrgs bgekrbnoaks, paofto jk aovojg, bnfks, dgjkhos keprksornoaks, supkrekrbojgs, bgensornotgs, baåfnbos, mgspntoaks, ksbkforngs pkreofkftks. ZNPG D

 

Oskrrojkrgs, aovofjkråos, bkftrgs jk obgpng, hosganfkros, ekbïfnbos, audrnbojgros, mgtkaks, egtkaks, mgstoaks, dorks, jnsbgtkbos, bosnfgs, dgjkhos jk våvkrks. ZPG B Oaeobkfks kf hkfkroa, cufkrornos, coreobnos, dgtnbos. Neprkftos, soaos jk dkaakzo, ckrrktkråos, pnboftkråos, rkstouroftks, mkaojkråos, bocktkråos, pofojkråos, jnstrndunjgros jk hos, luhgs kakbtròfnbgs, vkmåbuags rkportnjgrks jk hos, tofqukrgs jk aåqunjgs nfcaoeodaks, agboaks jk bkftrgs bgekrbnoaks. Tkqunsntgs< ?. Rganbntuj jk nfspkbbnòf jka agboa 4. Nfcgrek covgrodak jk ao nfspkbbnòf9 2. Bgpno jka T[B9 y, :. Bgpno jk ao boancnbobnòf ortksofoa (ortksofgs boancnbojgs) Zodao 48. Soagrks jk ags rkqunsntgs poro nepakekftor ufo keprkso kf ao prgvnfbno jk Ksekroajos Bgstg jka obtnvg Y[RJU

Pkrensgs Anbkfbno jk cufbngfoenkftg

$=00,00

Tkhnstrg eufnbnpoa poro ka rkhnstrg ekrboftna

$:?:,>:

Potkftk

$400,00

Pkrensg jk cufbngfoenkftg jk dgedkrgs

$?.800,00

Tkhnstrg oednkftoa

$?.000,00

Odghojg

$300,00

Pudanbobnòf kf uf jnorng

$;0,00

Nfsbrnpbnòf bgepoÿåo

$40,00

Fgtorng

$20,00

Bukfto

$400,00

Jgbuekftgs rkhnstrg ekrboftna

$;0,00

Nfsbrndnr rkprkskftoftk

$;0,00

Zgtoa, Obtnvgs Jnckrnjgs

$;.??::,>:

(Cukftk< Prgpno)

 

BOPNZ[AG : KRZ[JNG CNFOFBNKTG Nftrgjubbnòf Kf ksto skbbnòf jka prgykbtg, sk utnanzorï ao nfcgreobnòf rksuatoftk jka kstujng jk ekrojg y kstujng tîbfnbg, ksto nfcgreobnòf pkrentk jktkrenfor buïaks skråof ags hostgs ojenfnstrotnvgs, hostgs jk vkftos, hostgs cnfofbnkrgs y ags bgstgs bg stgs jk prgjubbnòf poro oskhuror ao gpkrobnò gpkrobnòf f jk ao paofto jk cufjnbnòf. Ao vnodnanjoj jka prgykbtg sk grnkfto mobno uf ofïansns jk skfsndnanjoj bgf dosk kf ags nnfjnbojgrks fjnbojgrks cnfofbnkrgs bgeg ka voagr obtuoa fktg (SOF) y ao toso nftkrfo jk rktgrfg (ZNT). Ka caulg jk bolo cuk prgykbtojg o uf mgrnzgftk jk ; oÿgs. Gdlktnvg Hkfkroa Ofoanzor ka kftgrfg cnfofbnkrg jka prgykbtg kf dosk o ao nfcgreobnòf gdtkfnjo jka kstujng jk ekrbojg y jka kstujng tîbfnbg. Gdlktnbgs kspkbåcnbgs

           

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Jktkrenfor ka grnhkf jk ags cgfjgs poro ka prgykbtg Jktkrenfor ao rkftodnanjoj jka prgykbtg Jktkrenfor ka tnkepg jk rkbupkrobnòf jka bopntoa jk ags nfvkrsngfnstos Jktkrenfor cobtgrks cnfofbnkrgs< ZNT, SOF, Z[T Prgykbtor ka caulg jk bolo poro ; oÿgs Jktkrenfor ao vnodnanjoj jka prgykbtg ofoanzofjg ags caulgs jk cgfjgs y ka ofïansns jk skfsndnanjoj

?.  ?.  Jktkrenfobnòf jk aos nfvkrsngfks Aukhg jk rkoanzor ags rkspkbtnvgs kstujngs jk ekrbojg, tîbfnbg y kstodakbkr ufo kstrubturo grhofnzotnvo poro ao paofto9 ag quk pkrentnò jktkrenfor ao vnoanjoj jka prgykbtg jk kaodgrobnòf jk vornaaos jk obkrg jk =ee jk jnïektrg y 3 ektrgs jk agfhntuj, sk prkskfto jk eofkro jktoaaojo ags voagrks kbgfòenbgs o nfvkrtnr poro pgfkr kf eorbmo ka prgykbtg. Nfvkrsnòf Cnlo Ags obtnvgs cnlgs g tofhndaks sgf dnkfks quk sk jkprkbnof bgf ka tnkepg jkdnjg o su usg kftrk kaags sk pukjkf kfbgftror eoqunfornos, vkmåbuags, kqunpgs kftrk gtrgs. O bgftnfuobnòf, kf ao Zodao 4= sk jktoaaof ags obtnvgs cnlgs jk ao keprkso ags ensegs quk oabofzof uf voagr jk $ ;== 4?>.

 

Zodao 4=. Obtnvgs Cnlgs jka prgykbtg OBZNSGR CNLGR NFCTOKRZT[BZ[TO EO_[NFOTNO ^ K_[NPGR Dïsbua o Ka î btrgfn bo Hrüo tn pg Pua pg Kqun pg jk Gxn bgrtk Pukftk Hr Hrüo Ka kbtrgeohfî tn bo Mgrfg jk orbg k a îbtrn bg eïqun fo jk bga ojo bgftn fuo a n eojgro kf boa n kftk Mgrfg jk rkboa kftoen kftg SKMÅB[AGR Egftoborhos 4 tgf. Boen gfkto jgda k bodn fo E[KDAKR ^ KFRKTKR Ksbrn tgrn g klk butnvg Rn a a òf k lkbutn vg

Bgstg [fn torn g($) Boftn joj $ 8;,000.00 $ $ $ $ $ $ $ $

2,200.00 ?4,000.00 ?4;.00 >,;00.00 400,000.00 4,=00.00 ?:,000.00 ?8;,00>.00

$ $

Bgstg Zgtoa ( $) $ 8;,000.00 ? ? 4 ? ? ? ? ?

$ $ $ $ $ $ $ $

2,200.00 ?4,000.00 4;0.00 >,;00.00 400,000.00 4,=00.00 ?:,000.00 ?8;,00>.00

80,000.00 42,000.00

? $ ? $

80,000.00 42,000.00

$ $

200.00 ?40.00

2 $ ? $

>00.00 ?40.00

Eukdak Ouxnanor Ouxna nor Bgeputojgro $

20.00 20.00

4 $

30.00

Rnaa Rnaaos os jk Snsnto Snsn to Dosurkrgs Orbmnvojgr

$ $ $

4;.00 4;.00 ;.00 ?40.00

2 $ 2 $ 4 $

8;.00 ?;.00 4:0.00

egjua g jk rkbk pbn òf

$

400.00

? $

400.00

eukda k jk mkrroen kftos

$

8;0.00

? $

8;0.00

Kqun pg jk Bgeputg

$

;00.00

4 $ Zgtoa $

?,000.00 ;==,4?>.00

(Cukftk< Prgpno) Nfvkrsnòf Jnckrnjo Ao nfvkrsnòf jnckrnjo mobk rkckrkfbno o ags bgstgs jk grhofnzobnòf poro pgfkr kf eorbmo ka prgykbtg bgeg ag sgf potkftks, bgstgs ojenfnstrotnvgs kftrk gtrgs. O bgftnfuobnòf, kf ao Zodao 4> sk jktoaaof ags kakekftgs y voagrks fkbksorngs poro budrnr ksto nfvkrsnòf quk oabofzo uf voagr jk $?8300.

Zodao 4>. Obtnvgs jnckrnjgs jka prgykbtg

OBZNSG JNCKTNJG

[fnjoj

Bgfstntubnòf akhoa(Odghojg, potkftks, pkrensgs y gtrgs)

Rkrvnbng

Osnstkfbno Zîbfnbo(Bopobntobnòf)

Boftnjoj

Bgstg [fntorng($)

Bgstg Zgtoa ($)

?

$

?,;00.00

$

?,;00.00

Rkrvnbng

?

$

2,000.00

$

2,000.00

Rgctwork

Anbkfbnos

?

$

2,=00.00

$

2,=00.00

Ojkbuobnòf jk nfstoaobngfks

$/eV4

?

$

;,000.00

$

;,000.00

Pudanbnjoj y ekrbojg

Boepoÿos

?

$

?,=00.00

$

?,=00.00

Kstujng jk ekrbojg

Rkrvnbng

?

$

4,;00.00

$

4,;00.00

$

?8,300.00

Zgtoa

(Cukftk< Prgpno)

 

Bopntoa jk trodolg Ka bopntoa jk trodolg mobk rkckrkfbno oa bopntoa fkbksorng poro pgfkr kf eorbmo ka prgykbtg jnstnftg jk ao nfvkrsnòf cnlo y jnckrnjo, ag quk pkrentk rkoanzor ao prnekro prgjubbnòf jka prgjubtg oftks jk hkfkror ags prnekrgs nfhrksgs. Ka bopntoa jk trodolg pkrentk bgstkor ags bgstgs jk9 eotkrno prneo, nfsuegs, eofg jk gdro kftrk gtrgs. bgeg ag sgf potkftks, bgstgs ojenfnstrotnvgs kftrk gtrgs. O bgftnfuobnòf, kf ao Zodao 20 sk jktoaaof ags kakekftgs y voagrks fkbksorngs poro budrnr ksto nfvkrsnòf quk oabofzo uf voagr jk $;>= 3>4,2=. Zodao 20. Bopntoa jk Zrodolg PKTNGJG ?. BGRZGR JK CODTNBOBNGF

Bgstg Ofuoa

?.? BGRZG JNTKBZG ?.?.? EOZKTNO PTNEO

$

2:=,2;>.0:

?.?.4 EOZKTNOAKR JNTKBZGR

$ $

;0,0:0.00 ==,2?3.40

$ $

;00.00 -

$ $

:,02=.00 20,830.00

$ ?.4.2 PTKRZOBNGFKR ?.2 GZTGR HORZGR NFJNTKBZGR

;00.00

?.2.? JKPTKBNOBNGF CODTNBO

$

80,000.00

?.2.4 RKTSNBNGR

$ $

?3,>=0.00 ?,400.00

$ $

?,000.00 ;00.00

$ $

?,;:3.=0 -

$ $ $

:3,024.2: ;00.00 ?40.00

$ $

;00.00 -

2. HORZGR JK SKFZOR

$

?,=00.00

ZGZOA BGRZG GPKTOBNÒF

$

;>=,3>4.2=

?.?.2 EOFG JK GDTO ?.?.: PTKRZOBNGFKR ?.?.; GZTGR EOZKTNOAKR JNTKBZGR ?.4 HORZGR JK CODTNBOBNGF ?.4.? EOZKTNOAKR NFJNTKBZGR ?.4.4 EOFG JK GDTO NFJNTKBZO

?.2.2 EOFZKFNENKFZG ?.2.: RKH[TGR ?.2.; NEP[KRZGR ?.2.3 OEGTZN\OBNGF JK JNCKTNJGR ?.2.8 GZTGR 4. HORZGR OJENFNRZTOZNSGR 4.? R[KAJGR 4.4 PTKRZOBNGFKR 4.2 JKPTKBNOBNGF OJENFNRZTOZNSO 4.: RKH[TGR 4.; GZTGR NEP[KRZGR 4.3 GZTGR  GZTGR 

(Cukftk< Prgpno) Tksuekf jk aos Nfvkrsngfks O bgftnfuobnòf, sk eukstrof ao boftnjoj tgtoa jk jnfkrg fkbksorno poro pgfkr kf eorbmo ka prgykbtg tgeofjg kf bukfto ags bgstgs jk nfvkrsnòf cnlo, jnckrnjo y bopntoa jk trodolg, bgeg sk nfjnbo kf ao Zodao 2? ka bgstg tgtoa ks jk $ ?40:;??,2=.

 

Zodao 2?. Tksuekf jk bgstg jk nfvkrsngfks ZNPG JK NFSKTRNÒF

EGFZG($)

NFSKTRNÒF CNLO

$

;==,4?>.00

NFSKTRNÒF JNCKTNJO

$

?8,300.00

BOPNZOA JK ZTODOLG

$

;>=,3>4.2= ;>=,3>4.2=

Zgtoa Nfvkrsnòf

$

?,40:,;??.2=

(Cukftk< Prgpno) 4.  4.  Cnfofbnoenkftg Aukhg jk modkr gdtkfnjg jka voagr jk nfvkrsnòf tgtoa bgf oyujo jk ao Zodao P. sk kstodakbk ufo cgreo jk cnfofbnor ka bopntoa fkbksorng poro pgfkr kf eorbmo ka prgykbtg. Aukhg jk vkrncnbor ka kakvojg bgstg jk nfvkrsnòf sk mo gptojg pgr uf cnfofbnoenkftg kftrk cgfjgs prgpngs y dofborngs kf uf pgrbkftolk jk 20% y 80% rkspkbtnvoekftk (Enroro Zodao 24). Ka pgrbkftolk jk cnfofbnoenkftg o budrnr o trovîs jk uf prîstoeg dofborng sk ag pukjk rkoanzor bgf ao kftnjoj dofborng BCF quk gcrkbk ka egftg fkbksorng o ufo toso jk nftkrîs ofuoa jka 3% o uf paozg jk ; oÿgs, y ufo oegrtnzobnòf crofbkso ag quk ak a k pkrentnrï o ao keprkso jktkrenfor ufo bugto cnlo jk $ 40:2?.?0 ofuoaks bgeg sk nfjnbo kf Zodao 22. Zodao 24. Pgrbkftolks jk Cnfofbnoenkftg Tkbursgs

% Cnfofbnoenkftg

Egftg($)

Prgpngs

20%

$ 23?,2;2.:?

Prîstoeg Dofborng

80%

$ =:2,?;8.>8

Zgtoa

?00%

$?,40:,;??.2=

(Cukftk< Prgpno) Zodao 22. Boabuag jk bugtos y oegrtnzobnòf crofbkso PKTNGJG

JNSNJKFJG

NFZKTÎR

BOPNZOA

0

ROAJG $ =:2,?;8.>8

?

$

40:,2?8.?0

$

;?,32>.:=

$

?;4,388.32

$ 808,>=0.2:

4

$

40:,2?8.?0

$

:4,:8=.=4

$

?3?,=2=.4=

$ ;:3,?:4.03

2

$

40:,2?8.?0

$

24,83=.;4

$

?8?,;:=.;=

$ 28:,;>2.:=

:

$

40:,2?8.?0

$

44,:8;.3?

$

?=?,=:?.;0

$ ?>4,8;?.>=

;

$

40:,2?8.?0

$

??,;3;.?4

$

?>4,8;?.>=

$

0.00

(Cukftk< Prgpno) 2.  2.  Bgstgs jk Gpkrobnòf Ags bgstgs jk prgjubbnòf skrïf ags hostgs quk jkdkrï ocrgftor ao keprkso aukhg jk bgfsganjorsk y kftror kf cufbngfoenkftg mosto aakhor bgepaktor su bnbag jk vnjo jk ; oÿgs, kftrk kaags ags bgstgs jk prgjubbnòf, ojenfnstrobnòf, vkftos y cnfofbnkrgs. O bgftnfuobnòf, sk nfjnbo ao Zodao 2: bgf ags voagrks prgykbtojgs o ; oÿgs jk ags bgstgs jk gpkrobnòf jk ao keprkso, voagrks gdtkfnjgs bgf oyujo jk ao mkrroenkfto ‑prgfgstnbg― jka poquktk bgeputobngfoa Kxbka y ags jotgs

gdtkfnjgs juroftk ka kstujng tîbfnbg.

 

Zodao 2:. Bgstgs jk Gpkrobnòf prgykbtojgs o ; oÿgs PKTNGJG

40?>

4040

404?

4044

4042

?. BGRZGR JK CODTNBOBNGF

?.? BGRZG JNTKBZG ?.?.? EOZKTNO PTNEO

$

?.?.4 EOZKTNOAKR JNTKBZGR ?.?.2 EOFG JK GDTO

$ $

;0,0:0.00 $ ==,2?3.40 $

;?,;:?.40 $ >;,24>.>0 $

?.?.: PTKRZOBNGFKR

$

;00.00 $

;:;.00 $

?.?.; GZTGR EOZKTNOAKR JNTKBZGR

2:=,2;>.0: $ 282,?08.0; $ 2=;,=:2.>4 $

$

?.4 HORZGR JK CODTNBOBNGF

-

$

-

23:,3==.28 $

2>4,0:0.00

;2,0=8.:: $ >3,?:3.8= $

;:,3=0.03 $ >3,>32.33 $

;3,240.:3 >8,8=0.;:

;==.30 $

32;.3> $

3=3.;:

$

- $

-

$

-

?.4.? .4.? EOZK OZKTNO NOAAKR NF NFJ JNTK NTKBZGR BZGR ?.4.4 EOFG JK GDTO NFJNTKBZO

$ $

:,02 ,02=.00 .00 $ 20,830.00 $

:,4 ,42 2>.> .>0 0 $ 22,00:.=> $

:,: ,:; ;?.> .>0 0 $ 22,4;0.;> $

:,3 ,38 8:.: .:> > $ 22,:>3.4= $

:,> ,>0 0=.4 .4? ? 22,8:?.>=

?.4.2 PTKRZOBNGFKR

$

;00.00 $

;:0.00 $

;=2.40 $

34>.=3 $

3=0.4:

?.2 GZTGR HORZGR NFJNTKBZGR ?.2.? .2.? JKPT PTK KBNO NOBN BNG GF CO COD DTNBO NBO

$

80,0 ,00 00.00 .00 $

88,0 ,00 00.0 .00 0 $

=:,8 =: ,80 00.0 .00 0 $

>2,? ,?8 80.0 .00 0 $

?04,: ,:= =8.0 .00 0

?.2.4 RKTS NBNGR ?.2.2 EOFZKFNENKFZG

$ $

?3,>=0.00 $ ?,400.00 $

?=,38=.00 $ ?,240.00 $

40,;:;.=0 $ ?,:;4.00 $

44,300.2= $ ?,;>8.40 $

4:,=30.:4 ?,8;3.>4

?.2.: RKH[TGR ?.2.; NEP[KRZGR ?.2.3 OEGTZN\OBNGF JK JNCKTNJGR

$ $ $

?,000.00 $ ;00.00 $ ?,;:3.=0 $

?,0:0.:0 $ ;40.40 $ ?,808.38 $

?,0=4.:2 $ ;:?.44 $ ?,==;.43 $

?,?43.?3 $ ;32.0= $ 4,0=?.22 $

?,?8?.33 ;=;.=2 4,4>8.8>

?.2.8 GZTGR

$

-

$

-

$

-

$

-

$

-

4. HORZGR OJENFNRZTOZNSGR 4.? R[KAJGR 4.4 PTKRZOBNGFKR

$ $

:3,024.2: $ ;00.00 $

:>,2;?.82 $ ;;4.00 $

:>,38>.22 $ 30>.:? $

;0,003.>4 $ 384.8> $

;0,22:.;? 8:4.83

4.2 JKPT JKPTKB KBNOB NOBNG NGF F OJ OJE ENFN NFNRZ RZTO TOZN ZNSO SO

$

?40 40.0 .00 0 $

?4 ?4> >.3 .30 0 $

?2>. >.>8 >8 $

?; ?;? ?.? .?8 8 $

?32 32.4 .43 3

4.: RKH[TGR 4.; GZTGR NEP[KRZGR

$ $

;00.00 $ - $

;;4.04 $ - $

30>.:; $ - $

384.=3 $ - $

8:4.=3 -

4.3 GZTGR 2. HORZGR JK S KFZOR

$ $

$ ?,=00.00 $

$ ?,>=8.48 $

$ 4,?>:.02 $

$ 4,:44.4> $

4,38:.2?

ZGZOA BGRZG GPKTOBNÒF

$

;>=,3>4.2= $ 8??,?:3.=2 $ 828,2>?.2? $

820,=24.;= $

882,>8;.4>

(Cukftk< Prgpno)

Bgstgs [fntorngs O bgftnfuobnòf, sk boabuaof ags bgstgs ufntorngs quk tkfjrï bojo hroeg jk vornaao tgeofjg kf bukfto ags bgstgs jk gpkrobnòf prgykbtojgs kf ao Zodao 2: y aos prgykbbngfks jk boftnjoj jk vornaao o budrnr jk ao Zodao 3. Ao Zodao 2;. nfjnbo ka voagr quk ak rkprkskftoråo o ao keprkso ao codrnbobnòf jk bojo jk vornaao kf ags ; oÿgs jk cufbngfoenkftg, gdtkfnîfjgsk kftrk $2.20 y $2.80 Zodao 2;. Bgstgs ufntorngs jk Sornaaos jk =ee jk jnïektrg y 3 e jk agfhntuj PKTNGJG Bgstgs ofuoaks

40?> $

Füekrg jk ufnjojks prgjubnjos Bgstg [fntorng

;>=,3>4.2=

4040

404?

$ 8??,?:3.=2

$ 828,2>?.2?

?>4242.44

?>3=;>.?;

?=?:28.00 $

2.20

$

2.80

$

4044

2.8;

$

4042

820,=24.;=

$

?=42::.?> $

:.0?

882,>8;.4> ?>;0::.8=

$

(Cukftk< Prgpno) Prkbng jk Skfto Aukhg jk jktkrenfor ka bgstg ufntorng jk prgjubbnòf ks fkbksorng bgfgbkr ka prkbng jk vkfto jk bojo vornaao poro kstg sk tgeo kf bukfto ufo utnanjoj jka 20% bgeg hofofbno ag quk bgeg sk pukjk gdskrvor kf ao Zodao 23. pkrentk gdtkfkr uf prkbng bgepktntnvg prgekjng jk $;,00 $; ,00 crkftk o gtros keprksos quk vkfjkf ka enseg prgjubtg bgeg sk nfjnbo kf ao Zodao = juroftk ka kstujng jk ekrbojg.

2.>8

 

Zodao 23. Prkbng jk vkfto jka prgjubtg Oÿg Bgstg [fntorng Eorhkf jk Hofofbno Prkbng jk Skfto jk YuU

40?> 2.20 20% :.:;

$ $

4040 2.80 $ 20% :.>> $

$ $

404? 2.8; 20% ;.03

4044 :.0? 20% ;.:?

$ $

4042 2.>8 20% ;.23

$ $

(Cukftk< Prgpno) Nfhrksgs ^o jktkrenfojg ka bgstg ufntorng sk mobk fkbksorng jktkrenfor ags nfhrksgs quk rkbndnrï ao keprkso pgr ao vkfto jk vornaaos juroftk su bnbag jk vnjo jk ; oÿgs. Kf ao Zodao 28 sk eukstrof quk kstgs voagrks sgf oatgs y euy otrobtnvgs poro pgfkr kf eorbmo ka prgykbtg. Zodao 28. Nfhrksgs pgr vkfto jka prgjubtg Oÿg

40?>

Prgjubbnòf ofuoa Prkbng jk vkfto Nfhrksgs oa oÿg

4040

?=?:28 $ ?>4,242.44 $ $

:.:; =0=,42:.8?

$ :.>> $ >30,0:=.44

404?

4044

4042

$ ?>3,=;>.?;

$

?=4,2::.?>

$

?>;,0::.8=

$ ;.03 $ >>;,:8=.48

$ $

;.:? >=3,342.>=

$ ;.23 $ ?,0::,=33.3:

(Cukftk< Prgpno) :.  :.  Jkprkbnobngfks Ka bïabuag jk jkprkbnobngfks ks nepgrtoftk yo quk, oufquk kstgs voagrks fg soahof jk ao keprkso, pkrentkf rkpgfkr ka cnfofbnoenkftg jk ags obtnvgs cnlgs aukhg jk buepanr bgf su vnjo ütna. Kf ao Zodao 2=. Rk nfjnbof ags obtnvgs jkprkbnojgs y uf voagr tgtoa jk oegrtnzobnòf quk jk $??40=;, enkftros quk kf ao Zodao 2> sk nfjnbo ka voagr tgtoa jk soavoekftg quk osbnkfjk o $?043?0; Zodao 2=. Soagr jk jkprkbnobnòf jk obtnvgs cnlgs Snjo ütna(oÿgs)

Obtnvgs Cnlgs

Soagr ($)

%jkpkrbnobnòf

Jkpkrbnobnòf($)

Kjncnbobngfks

$

?00,000.00

40

;% $

;0,000.00

Eoqunforno

$

;;?,;;0.00

?0

?0% $

;;,?;;.00

Skmåbuags Kqunpgs jk bgeputg

$

22,000.00

;

40% $

3,300.00

$

?,000.00

2

22.22%

$

220.00

Zgtoa jkprkbnobnòf ofuoa

$

??4,0=;.00

(Cukftk< Prgpno) Zodao 2>. Soagr jk soavoekftg jk obtnvgs cnlgs Obtnvgs Cnlgs Kjncnbobngfks Eoqunforno Skmåbuags Kqunpgs jk bgeputg

Oÿgs pgr Soagr ($) Jkprkbnobnòf($) jkprkbnor $ ?00,000.00 $ ;0,000.00 ?; $ ;;?,;;0.00 $ ;;,?;;.00 ; $ $ 22,000.00 3,300.00 0 $ ?,000.00 $ 220.00 ? Zgtoa voagr soavoekftg

Soagr rksnjuoa $ $ $ $ $

8;0,000.00 48;,88;.00 220.00 ?,043,?0;.00

(Cukftk< Prgpno) Oegrtnzobnòf Ka bïabuag jk oegrtnzobngfks rkbupkror kf hkstnòf bgrrkbtg cufbngfoenkftg jk ao keprkso pkrentk juroftk sus ; oÿgs aojk nfvkrsnòf cufbngfoenkftg. Kf ao jka Zodao :0 sk eukstrof ags kakekftgs oegrtnzojgs y sk gdtnkfk uf bgstg tgtoa jk $4:30.

 

Zodao :0. Soagrks jk oegrtnzobnòf jk obtnvgs jnckrnjgs Obtnvgs Jnckrnjg Hostgs jk bgfstrubbnòf Kstujng jk ekrbojg Rgctwork Osnstkfbno tîbfnbo Ojkbuobngfks

Soagr ($) $ $ $ $ $

Snjo ütna(oÿgs)

?,;00.00 4,;00.00 2,=00.00 ?,;00.00 2,000.00

%jkprkbnobnòf

; 40% ; 40% ; 40% ; 40% ; 40% Zgtoa Oegrtnzobnòf Ofuoa

Jkprkbnor oa ?kr oÿg (-) $ $ $ $ $ $

200.00 ;00.00 830.00 200.00 300.00 4,:30.00

(Cukftk< Prgpno)

;.  ;.  Caulg jk Cgfjgs Caulg jk Cgfjgs Purg Buofjg ka prgykbtg kftrk kf cufbngfoenkftg jk tgjos sus gpkrobngfks poro kaodgror ka prgjubtg, ao keprkso pgjrï hkfkror nfhrksgs n fhrksgs y khrksgs kf jnfkrg pgr bbojo ojo pkrngjg, poro fukstrg bosg jk kstujng sk ag rkoanzo jk cgreo ofuoa. Ka ofïansns quk sk vo o rkoanzor ks poro jktkrenfor sn ka prgykbtg vo o tkfkr ufo utnanjoj y o su vkz jktkrenfor sn ka rkbgekfjodak g fg rkoanzor ka prgykbtg bgeg o su vkz o aos pkrsgfos nftkrksojos kf nfvkrtnr. Poro gdtkfkr ka caulg jk cgfjgs sk jkdk bgfsnjkror ags nfhrksgs pgr ao gpkrobnòf, bgstgs jk gpkrobnòf, voagr rksnjuoa k nfvkrsnòf nfnbnoa. Rk pukjk gdskrvor ka caulg jk cgfjgs snf bgfsnjkror uf cnfofbnoenkftg. Zodao :?. Caulg jk Cgfjgs Purg OßGR BGFBKPZG

?

4

2

:

;

(+)

Nfhrksgs jk Rkrvnbng

=>:.32:,84

>30.0:=,44

>>;.:8=,48

>=3.342,>=

?.0::.=33,3:

(-)

Bgstgs gpkrotnvgs

;>4.;84,2=

32:.0?8,42 32:.0?8,42

3;4.;;?,2;

328.;??,:4

38?.24;,02

(-)

Jkprkbnobnòf

80.?40,00

88.?4>,30

=:.=2>,>8

>2.24?,?8

?04.3;0,43

4.:30,00

?.>3=,00

?.; ?.;8:,:0 8:,:0

?.4;>,;4 ?.4;>,;4

?.008,34

44>.:=4,22

4:3.>22,2>

4;3 4;3.;?4,;3 .;?4,;3

4;: 4;:.;2?,== .;2?,==

43>.==2,8: 43>.==2,8:

2:.:44,2;

28.0:0,0?

2=.:83,==

2=.?8>,8=

:0.:=4,;3

?>;.0;>,>=

40>.=>2,2=

4?= 4?=.02;,3= .02;,3=

4?3 4?3.2;4,?0 .2;4,?0

44>.:0?,?= 44>.:0?,?=

:=.83;,00

;4.:82,2;

;:.;0=,>4

;:.0==,02

;8.2;0,4>

?:3.4>:,>>

?;8.:40,0:

? ?32.;43,83 32.;43,83

? ?34.43:,0= 34.43:,0=

?84.0;0,== ?84.0;0,==

(-)

(5)

(-) (5) (-) (5)

Oegrtnzobnòf Obtnvgs Jnckrnjgs [tnanjoj Oftks jk Nep. ^ Portnbnpobnòf jk Zrodolojgrks Portnbnpobnòf Zrodolojgrks ?;% [tnanjoj Oftks jk Nepukstgs Nepukstg o ao Tkfto 4;% [tnanjoj g Pîrjnjo jka Klkrbnbng

(-)

Nfvkrsnòf Nfnbnoa

?.44>.;??,2=

(+)

Jkprkbnobnòf

80.?40,00

88.?4>,30

=:.=2>,>8

>2.24?,?8

?04.3;0,43

(+)

Oegrtnzobnòf Obtnvgs Jnckrnjgs

4.:30,00

?.>3=,00

?.; ?.;8:,:0 8:,:0

?.4;>,;4 ?.4;>,;4

?.008,34

(+)

Soagr Tksnjuoa

(+)

Tkbupkrobnòf jk Bopntoa jk Zrodolg

(5)

CA[LG JK CGFJGR

:.020,:3 ;>=.3>4,2= -?.44>.;??,2=

4?=.=8:,>>

423.;?8,3:

(Cukftk< Prgpno)

4:>.>:?,?2

4;3.=::,83

=8=.:2?,30

 

Bgeg rksuatojg jka caulg jk cgfjgs purgs sk pukjk sk pukjk jkbnr quk sk tkfjrï ufo anqunjobnòf jk 4?=.=8:.>> jòaorks kf ka oÿg ?. Kstgs voagrks sk ags pgjrï ofoanzor jk eklgr eofkro bgf ka SOF y ka ZNT y jktkrenfor sn ks vnodak rkoanzor ka prgykbtg. Caulg jk Cgfjgs poro ka Nfvkrsngfnsto Kf ka caulg jk Cgfjgs poro ka nfvkrsngfnsto sk jnckrkfbno kf quk sk bgfsnjkro uf cnfofbnoenkftg jka prgykbtg, ufg jk ags nfhrksgs eïs bgeufks sgf bopntoa quk sk rkbndk pgr prîstoegs. Zodao :4. Caulg jk cgfjgs poro ka nfvkrsngfnsto OßGR BGFBKPZG 0

?

4

2

:

;

=>:.32:,84

>30.0:=,44

>>;.:8=,48

>=3.342,>=

?.0::.=33,3:

;>4.;84,2=

32:.0?8,42

3;4.;;?,2;

328.;??,:4

38?.24;,02

80.?40,00

88.?4>,30

=:.=2>,>8

>2.24?,?8

?04.3;0,43

(-)

Jkprkbnobnòf Oegrtnzobnòf Obtnvgs Jnckrnjgs

4.:30,00

?.>3=,00

?.;8:,:0

?.4;>,;4

?.008,34

(-)

Nftkrksks

;?.32>,:=

:4.:8=,=4

24.83=,;4

44.:8;,3?

??.;3;,?4

?88.=:4,=3

40:.:;:,;8

442.8::,0:

424.0;3,48

4;=.2?=,34

43.383,:2

20.33=,?>

22.;3?,3?

2:.=0=,::

2=.8:8,8>

?;?.?33,:2

?82.8=3,2=

?>0.?=4, ?>0.?=4,:2 :2

?>8.4:8,=2

4?>.;80,=4

28.8>?,3?

:2.::3,30

:8.;:;,3?

:>.2??,>3

;:.=>4,8?

??2.28:,=4

?20.22>,8>

?:4.323,=4

?:8.>2;,==

?3:.38=,?4

80.?40,00 4.:30,00

88.?4>,30 ?.>3=,00

=:.=2>,>8 ?.;8:,:0

>2.24?,?8 ?.4;>,;4

?04.3;0,43 ?.008,34

(+) (-) (-)

Nfhrksgs jk Rkrvnbng Bgstgs gpkrotnvgs

[tnanjoj Oftks jk Nep. ^ Portnbnpobnòf jk (5) Zrodolojgrks Portnbnpobnòf Zrodolojgrks (-) ?;% [tnanjoj Oftks (5) jk Nepukstgs Nepukstg o ao (-) Tkfto 4;% [tnanjoj g Pîrjnjo jka (5) Klkrbnbng (-)

Nfvkrsnòf Nfnbnoa

?.44>.;??,2=

(+) Jkprkbnobnòf Oegrtnzobnòf (+) Obtnvgs Jnckrnjgs Soagr Tksnjuoa (+) Brkjntg (+)

Brîjntg

(-)

Pohg jka brîjntg Tkbupkrobnòf jk Bopntoa jk Zrodolg CA[LG JK CGFJGR

(+) (5)

:.020,:3 =30.3;8,>8 ?;4.388,32

?3?.=2=,4=

?8?.;:=,;=

?=?.=:?,;0

?>4.8;?,>= ;>=.3>4,2=

-23=.=;2,:?

22.488,?>

:8.;>>,??

;8.;04,3?

30.38;,08

(Cukftk< Prgpno) Bgeg rksuatojgs sk pukjk gdskrvor quk ao utnanjoj poro ka caulg jk cgfjgs jk nfvkrsngfnsto ks ekfgr yo quk sk bgfsnjkro ka pohg jk cgreo ofuoa jka brîjntg y ags nftkrksk quk oyujo oa cnfofbnoenkftg jka prgykbtg. Fg sk pukjk bgfbaunr quk ksto oatkrfotnvo sko bgfvkfnkftk kf ka

38=.203,=;

 

prgykbtg. Rk kvoauorï bgf SOF y ka ZNT bgf ka caulg jk cgfjgs y rkoanzor su rkspkbtnvg ofïansns jk vnodnanjoj jka prgykbtg. Kvoauobnòf jka Prgykbtg Bgf ao kvoauobnòf jka prgykbtg sk prgbkjk o ofoanzor o foanzor vorngs porïektrgs quk pkrentk jktkrenfor quî tof cobtndak ks nfvkrtnr kf ka prgykbtg y bgeprgdor sn sk tkfjrï dnkfks g fg. Fg sk pukjk jktkrenfor sgag bgf ags nfhrksgs quk sk tkfjrï oa cnfoa jka caulg jk cgfjgs, oa tkfkr ufo anqunjobnòf oato fg snhfncnbo quk sk pukjk oskhuror quk tkfjrï hofofbnos. Rk jkdk kvoauor ags caulgs jk cgfjgs y ka voagr prkskftk bgf ka voagr fktg nfvkrtnjg. Rk kvoauor sn bgfvnkfk nfvkrtnr kf ka prgykbtg tkfnkfjg prkskftk ags dkfkcnbngs fktgs quk tkfjrïf oa tkrenfor ka prgykbtg. Bïabuag jk ao Zoso jk Jksbukftg Ao toso jk jksbukftg sk ao bgfgbk bgeg ka pgrbkftolk jka bgstg jk bopntoa quk sk kepako kf ka prgykbtg poro jktkrenfor ka boedng jk voagr jka jnfkrg kf ka tnkepg, sk ag kepako kf ags caulgs jk cgfjgs. Zodao :2. Bgstg jka Bopntoa Prgpng Zoso snf rkstrnbbnòf

:%

toso jk rnkshg

?0,00%

Zgtoa, bgstg jk bopntoa prgpng

?:%

(Cukftk< Prgpno) Bgeg rkckrkfbno sk tnkfk ka Dofbg Bkftroa jka Kbuojgr, bgf ags jotgs jka bgstg jka bopntoa b opntoa prgpng sk prgbkjk o boabuaor ka bgstg jk bopntoa tgtoa pgr ag quk sk tnkfk ao snhunkftk todao. Zodao ::. Bgstg jka Bopntoa Zgtoa KRZT[BZ[TO BOPNZOA

Kstrubturo

Bgstg

Zoso jk jksbukftg

Bopntoa prgpng

$

23=.=;2,:?

20%

?:%

:,4%

Bopntoa Olkfg

$

=30.3;8,>8

80%

??%

8,8%

Zgtoa Nfvkrsnòf

$ ?.44>.;??,2=

?00%

??,>%

(Cukftk< Prgpno) Ao toso jk bgstg jk bopntoa tgtoa sk ao bgfsnjkro poro bïabuags tgeofjg kf bukfto ags quk opgrto ka nfvkrsngfnsto. Soagr Prkskftk Fktg (SOF) Ka SOF ks uf tîrenfg egfktorng, fgs pkrentk jktkrenfor sn ka prgykbtg ks vnodak g fg, sk doso kf posor ka caulg jk cgfjgs o voagr prkskftk, sk kepako ao toso jk jksbukftg poro jktkrenfor ags voagrks prkskftks jka caulg jk cgfjgs y bgf rksto jka voagr nfnbnoa. kstk eîtgjg fgs pkrentk jktkrenfor ka voagr fktg quk sk hkfkro kf ka prgykbtg oa voagr prkskftk. Zodao :;. SOF jka prgykbtg snf nfvkrsnòf Caulg jk Cgfjgs

0

?

4

2

:

;

?44>;??,2=

4?==8:,>== 4?==8:,>==

423; 423;?8,328 ?8,328

4:>>:? 4:>>:?,?4; ,?4;

4;3=::,83??

=8=:2?,3

?;%

Zj SOF

-??4:?3,03

(Cukftk< Prgpno) Bgeg rksuatojg sk pukjk vkr quk ka SOF ks fkhotnvg. Poro kstk bosg jk ofïansns ka prgykbtg fg ks vnodak yo quk fg sk tnkfk kxbkjkftk jk utnanjoj poro klkbutor ka prgykbtg. [fo jk aos

 

prnfbnpoaks jncnbuatojks quk prkskfto ka prgykbtg ks quk fg sk pgjrï budrnr pohgs jk sukajgs, eotkrnos prneos, kftrk gtros. Rk prgbkjk o boabuaor ka SOF bgf nfvkrsngfnsto. Poro su bïabuag sk rkoanzo jk ao enseo eofkro quk ka oftkrngr, tkfnkfjg kf bukfto ka caulg jk cgfjgs jka nfvkrsngfnsto y oså pgjkr rkoanzor uf ofïansns jk buoa, jk aos gpbngfks, ks ao eïs covgrodak. Zodao :3. SOF jka prgykbtg bgf nfvkrsngfnstos

Caulg jk Cgfjgs

0

?

4

-23==;2,:?

22488,?>

:8;>>,??

Zj SOF

2 ;8;04,3?

:

;

3038;,03

38=203,=;

?;% ?0;=?2,:>; (Cukftk< Prgpno)

Poro ka bïabuag jk SOF kf ka poro ka nfvkrsngfnsto sk tnkfk uf voagr pgsntnvg, sk pukjk jkbnr quk ka prgykbtg ks vnodak hkfkrofjg uf kxbkjkftk jk utnanjoj poro ka jukÿg jka prgykbtg. Ka prgykbtg tkfjrï ao bopobnjoj jk pohor sukajgs, eotkrnos prneos, kftrk gtros. Ao gpbnòf quk sk pukjk skakbbngfor ks jk cnfofbnor ka prgykbtg yo sko bgf prîstoegs g nfvkrsngfnstos yo quk fg ks rkbgekfjodak trodolor bgf bopntoa prgpng. Zoso Nftkrfo jk Tktgrfg (ZNT) Ao ZNT toednîf sk ao kepako poro kvoauor prgykbtgs. Ka eîtgjg bgeg rksuatojg fg tk jo kf tîrenfgs egfktorngs, ags rkprkskfto kf cgreo jk pgrbkftolk. Kstk eîtgjg jk kvoauobnòf sk jnckrkfbno kf sus tîrenfgs yo quk ka SOF ks kf tîrenfgs egfktorngs, enkftros quk ao ZNT su rksuatojg ks kf pgrbkftolks. Ao ZNT rkprkskfto ao toso jk nftkrîs eïs oato quk sk pukjk pohor oa nfvkrsngfnsto, snf hkfkror pîrjnjos, ao ZNT sk gdtnkfk oa nhuoaor oa SOF o bkrg. Ao snhunkftk todao fgs nfjnbo ka voagr jk ao ZNT jka prgykbtg snf nfvkrsngfks. Zodao :8. ZNT jka prgykbtg snf nfvkrsngfnstos

Caulg jk Cgfjgs

0 ?44>;??,2=

Zj

?;%

ZNT

?4%

? 4?==8:,>=

4 423;?8,32

2 4:>>:?,?4

: 4;3=::,83

; =8=:2?,3

(Cukftk< Prgpno)

Bgeg rksuatojg sk tnkfk quk ao Zj ks eoygr quk ao ZNT, kstg qunkrk jkbnr quk ka prgykbtg fg ks vnodak yo quk ao toso eïs oato jk nftkrîs ks ekfgr quk ao jk jksbukftg. Bgeg rksuatojg sk tnkfk quk ka prgykbtg fg ks rkftodak snf nfvkrsnòf. Rk prgbkjk o boabuaor ao ZNT poro ka prgykbtg bgf cnfofbnoenkftg. Poro ka caulg jk cgfjgs sk tnkfk quk ao nfvkrsnòf ks ekfgr yo quk sgag tnkfk kf bukfto ka bopntoa nfvkrtnjg pgr ka jukÿg jka prgykbtg.

 

Zodao :=. ZNT jka prgykbtg bgf nfvkrsngfnstos

Caulg jk Cgfjgs

0 23==;2,:?

Zj

?;%

ZNT

44%

? 22488,?>

4 :8;>>,??

2 ;8;04,3?

: 3038;,08

; 38=203,=;

(Cukftk< Prgpno)

Poro ka bosg jka prgykbtg cnfofbnojg sk tnkfk quk ao ZNT ks eoygr quk ao Zj. Rk pukjk jkbnr quk ka prgykbtg ks vnodak, ao jnckrkfbno quk prkskfto ks euy fgtodak, sk pukjk jkbnr quk ak prgykbtg pukjk ocrgftor boedngs kf ka cuturg. Rk pukjk jkbnr quk ka prgykbtg bgf cnfofbnoenkftg prkskfto eklgrks gpgrtufnjojks jk utnanjoj y îxntg, skhüf ags nfjnbojgrks SOF y ZNT. Tkaobnòf Bgstg Dkfkcnbng Poro ao rkaobnòf jk dkfkcnbng-bgstg fgs jo o bgfgbkr uf puftg jk vnsto eïs baorg jk ao rkftodnanjoj quk ka SOF. Rk doso kf trokr ags nfhrksg y khrksgs quk sk gdtnkfkf kf ags bnfbg oÿgs oa prkskftk, bgeg rksuatojg sk tkfjrï ufo rkaobnòf jk buoftg nfbrkekfto ka jnfkrg nfvkrtnjg. Zodao :>. Tkaobnòf Bgstg Dkfkcnbng snf nfvkrsngfnstos Oÿg 0

Nfhrksgs

Bgstgs

$

-

$-?.44>.;??,2=

?

$ =>:.32:,84

$ -;>4.;84,2=

4

$ >30.0:=,44

$ -32:.0?8,42

2

$ >>;.:8=,48

$ -3;4.;;?,2;

:

$ >=3.342,>=

$ -328.;??,:4

;

$?.0::.=33,3:

$ -38?.24;,02

Zj

?;%

SFO Nfhrksgs

$2.4:4.00>,;>

SFO Bgstgs

$2.2;?.;4>,2:

D/B

0,>8 (Cukftk< Prgpno)

Poro ka ofïansns jk Dkfkcnbng-Bgstg jka prgykbtg ao rkaobnòf ks ekfgr jk ?, pgr ag quk ka prgykbtg fg ks rkftodak, kstg qunkrk jkbnr quk pgr bnkf jòaorks quk sk nfvnkrto, ka jukÿg jka prgykbtg pkrjkr trks jòaorks hkfkrofjg pîrjnjos. Rk rkoanzo ka ofïansns poro ka prgykbtg bgf nfvkrsnòf.

Zodao ;0. Tkaobnòf Bgstg Dkfkcnbng bgf nfvkrsngfnstos Oÿg 0

Nfhrksgs $

Bgstgs -

$ -23=.=;2,:?

?

$ =>:.32:,84

$ -;>4.;84,2=

4

$ >30.0:=,44

$ -32:.0?8,42

2

$ >>;.:8=,48

$ -3;4.;;?,2;

: ;

$ >=3.342,>= $?.0::.=33,3:

$ -328.;??,:4 $ -38?.24;,02

 

  Zj

?;%

SFO Nfhrksgs

$2.4:4.00>,;>

SFO Bgstgs

$4.:>0.=8?,28

D/B

?,20

Prgpno)  (Cukftk< Prgpno)  Bgeg rksuatojg sk tnkfk quk ak prgykbtg ks vnodak, poro ka enseg klkepag paoftkojg bgf oftkrngrnjoj sk pukjk jkbnr quk ka så nfvnkrtk bnkf jòaorks ka jukÿg jka jnfkrg rkbupkro su jnfkrg eïs 20 jòaorks ojnbngfoaks. Pkrngjg jk Tkbupkrobnòf jk ao Jkujo Rk prgbkjk o jktkrenfor ka tnkepg fkbksorng kf ka trofsbursg jka prgykbtg poro rkbupkror ao nfvkrsnòf nfnbnoa skhüf ag paofkojg kf ka prgykbtg. Poro ka prnekr bïabuag sk ag rkoanzo oa prgykbtg snf cnfofbnoenkftg. Zodao ;?. Pkrngjg jk rkbupkrobnòf jk ao nfvkrsnòf jka prgykbtg snf nfvkrsngfnstos CA[LG JKRBGFZOJG OB[E[AOJG

PKTNGJG

CA[LG

CA[LG JKRBGFZOJG

0

$-?.44>.;??,2=

$-?.44>.;??,2=  $-?.44>.;??,2= 

?

$

4?=.=8:,>>

$?>0.243,0=

$

?>0.243,0=

4

$

423.;?8,3:

$?8=.=:?,2?

$

23>.?38,2>

2

$

4:>.>:?,?2

$?3:.2:0,2;

$

;22.;08,8:

:

$

4;3.=::,83

$?:3.=;?,=2

$

3=0.2;>,;3

;

$

=8=.:2?,30

$:23.82;,83

$

?.??8.0>;,24

Zj

?;% PTN  PTN 

;,43 OßGR

Prgpno)  (Cukftk< Prgpno)  Poro uf ka prgykbtg snf cnfofbnoenkftg sk pukjk gdskrvor quk ao nfvkrsnòf quk sk rkoanzò sk ao rkbupkro kf ;.43 oÿgs, fg sk rkbupkro ao nfvkrsnòf aukhg jk buaenfor ka prgykbtg. [fo jk aos prnfbnpoaks busos ks pgr ao oato nfvkrsnòf jka prgykbtg. Rk prgbkjk o boabuaor ka tnkepg jk rkbupkrobnòf jk ao nfvkrsnòf poro ka prgykbtg cnfofbnojg. Zodao ;4. Pkrngjg jk rkbupkrobnòf jk ao nfvkrsnòf jka prgykbtg bgf nfvkrsngfnstos CA[LG JKRBGFZOJG OB[E[AOJG

PKTNGJG

CA[LG

CA[LG JKRBGFZOJG

0

$ -23=.=;2,:?

$-23=.=;2,:?  $-23=.=;2,:? 

?

$

22.488,?>

$4=.>23,3>

$

4=.>23,3>

4

$

:8.;>>,??

$2;.>>?,83

$

3:.>4=,:;

2

$

;8.;04,3?

$28.=0=,>0 $28.=0=,>0

$

?04.828,2;

:

$

30.38;,08

$2:.3>?,?8 $2:.3>?,?8

$

?28.:4=,;4

;

$ 38=.203,=;

$228.42=,2>

$

:8:.333,>0

Zj

?;%

 

  PTN  PTN 

:,3>

OßGR

Prgpno)  (Cukftk< Prgpno)  Poro ao rkbupkrobnòf jk ao nfvkrsnòf bgf ka prgykbtg cnfofbnojg su tnkepg jk rkbupkrobnòf ks ekfgr yo quk sk rkbupkro kf uf pgbg eïs jk skns eksks kf bgeporobnòf jka oftkrngr ofïansns. Kstg sk jkdk qukpohgs o pksor quk jk cgreo ofuoa bofbkao pohgs pgr nftkrîs quk hkfkro uf prîstoeg y gtrgs jkjk jkujos, kstg hkfkro qukskags nfhrksgs jnsenfuyof. Ofïansns jk Rkfsndnanjoj Kf ka ofïansns jk skfsndnanjoj ag quk sk dusbo ks jktkrenfor quî tof prgpkfsg pukjk skr ka prgykbtg o boedngs jk vornodaks quk pukjkf jorsk pgr ka ekjng. Fgs qunkrk jkbnr quk toftg pukjk boednor ao rkftodnanjoj yo sko pgr nfbrkekftg jk eotkrnos prneos, ags nfhrksgs, ags bgstgs gpkrotnvgs, ka nfbrkekftg jk prgjubbnòf, kftrk gtros. gtro s. Kf ka ofïansns jk skfsndnanjoj jka prgykbtg sk tgeo aos vornodaks ka eorhkf jk utnanjoj dosojg kf ka eorhkf jk hofofbno jgfjk sk tgeo kf bukfto trks bosgs< ka ksbkforng rkoa, ka ksbkforng pksnensto y ka ksbkforng gptnensto. Jgfjk ka eorhkf jk hofofbno rkoa ks ka quk sk tnkfk obtuoaekftk bgf ufo hofofbno jk 2;%, poro ka tnkepg pksnensto sk tgeo uf eorhkf jk hofofbno jk ?;% kstg pukjk gbosngforsk o quk kxnstk jkeosnojo bgepktkfbno y tnkfk quk dolor su hofofbno poro pgjkr vkfjkr, y ka ksbkforng pksnensto uf eorhkf jk hofofbno jk jgfjk sko ka prgykbtg ka üfnbg vkfjkjgr ka prgjubtg y tkfho bgf ao gpgrtufnjoj g pgrtufnjoj nfbrkekftor aos:0% hofofbnos. Poro gtrg ofïansns jk skfsndnanjoj sk tgeo kf bukfto ags bgstgs jk gpkrobnòf jk nhuoa cgreo tgeofjg trks ksbkforng, ka ksbkforng rkoa jgfjk sk eoftnkfk fg moy nfbrkekftg kf ags bgstgs gpkrotnvgs, poro ka ksbkforng pksnensto jgfjk ags bgstgs jk gpkrotnvgs nfbrkekfto kf uf 4;% kstg ks pgsndak sn ags soaorngs y eotkrnos prneos nfbrkekftof, y poro ka bosg gptnensto sk jnbk quk ags bgstgs gpkrotnvgs vo o jnsenfunr kf uf ?0% ufo jk aos bousos ks quk sk boednk ags prgbksgs ekbïfnbgs o outgeïtnbgs tkfnkfjg quk jnsenfunr ao eofg jk gdro. Ka ofïansns sk rkoanzo bgf ka prgykbtg bgf cnfofbnoenkftg poro oså eklgror oa prgbksg quk yo ks rkftodak. Rk rkoanzo ka ofïansns jka SOF, ZNT y tnkepg jk rkbupkrobnòf jk ao nfvkrsnòf. Rk prgbkjk o rkoanzor ka ofïansns poro ka eorhkf jk utnanjoj kf ags trks ksbkforngs. Zodao ;2. Ofïansns jk skfsndnanjoj-Eorhkf jk hofofbno-EOrhkf jk utnanjoj-Ksbkforng rkoa 0 Caulg jk Cgfjgs

$

-23=.=;2,:?

Zj

?;%

SOF

$?0;.=?2,:>

ZNT

44%

PKTNGJG

CA[LG

? $

22.488,?>

CA[LG JKRBGFZOJG

4 $

:8.;>>,??

CA[LG JKRBGFZOJG OB[E[AOJG

$-23=.=;2,:?  $-23=.=;2,:? 

0

$

-23=.=;2,:?

?

$

22.488,?>

$4=.>23,3>

$

4=.>23,3>

4

$

:8.;>>,??

$2;.>>?,83

$

3:.>4=,:;

2

$

;8.;04,3?

$28.=0=,>0

$

?04.828,2;

:

$

30.38;,08

$2:.3>?,?8

$

?28.:4=,;4

2 $ ;8.;04,3?

: $ 30.38;,08

; $ 38=.203,=;

 

;

$

38=.203,=;

Zj

0,?;

PTN  PTN 

:,3>

$228.42=,2>

$

:8:.333,>0

OßGR

Prgpno)  (Cukftk< Prgpno)  Ka eorhkf jk hofofbno poro ka ksbkforng rkoa ks ka enseg kf quk sk gdtuvg kf ags oftkrngrks ofïansns, sk kepako bgeg borobtkråstnbos dosk poro ka ofïansns jk ags jkeïs ksbkforngs. Zodao ;:. Ofïansns jk skfsndnanjoj-Eorhkf jk hofofbno-EOrhkf jk utnanjoj-Ksbkforng pksnensto 0 Caulg jk Cgfjgs

$

?

-23=.=;2,:?

$

4

-;?.4?3,0=

$

-:2.084,?4

2 $

-23.;?:,8=

:

;

$ 24.;03,0>

$ ;8>.34;,00

?;%

Zj SOF

$-400.283,20 $-400.283,20  

ZNT

4%

PKTNGJG

CA[LG JKRBGFZOJG OB[E[AOJG

CA[LG JKRBGFZOJG

CA[LG

0

$

-23=.=;2,:?

?

$

-;?.4?3,0=

$-::.;2;,82  $-::.;2;,82  $

-::.;2;,82

4

$

-:2.084,?4

$-24.;3=,8?  $-24.;3=,8?  $

-88.?0:,:2

2

$

-23.;?:,8=

$-4:.00>,03  $ $-4:.00>,03 

-?0?.??2,:>

:

$

-24.;03,0>

$-?=.;=;,:3  $ $-?=.;=;,:3 

-??>.3>=,>3

;

$

;8>.34;,00

$4==.?83,08 $

?3=.:88,??

Zj

$-23=.=;2,:? $-23=.=;2,:?  

0,?;

PTN PTN  

;,80 OßGR (Cukftk< Prgpno)  Prgpno) 

Poro ka ksbkforng pksnensto sk pukjk gdskrvor quk sk tnkfk vorngs ospkbtgs fkhotnvgs kf ka prgykbtg bgf nfvkrsnòf, sk tnkfk uf SOF ekfgr o bkrg jgfjk fg sk tkfjrï utnanjoj, pgr ag quk fg sk rkbgenkfjo dolor ka eorhkf jk hofofbno o ?;%. Zoednîf sk tnkfk uf ZNT ekfgr quk Zj y su tnkepg jk rkbupkrobnòf jk ao nfvkrsnòf kxbkjkf kf ka tnkepg jk tîrenfg jka prgykbtg. Zodao ;;. Ofïansns jk skfsndnanjoj-Eorhkf jk hofofbno-EOrhkf jk utnanjoj-Ksbkforng gptnensto 0 Caulg jk Cgfjgs Zj

$

-23=.=;2,:? ?;%

SOF

$?=4.230,>:

ZNT

48%

? $

;:.:00,;?

4 $

80.433,>?

2 $

=?.003,>3

: $

=2.>80,2;

; $ 804.>88,2?

 

PKTNGJG

CA[LG JKRBGFZOJG OB[E[AOJG

CA[LG JKRBGFZOJG

CA[LG

0

$

-23=.=;2,:?

?

$

;:.:00,;?

$:8.20:,=0 $

:8.20:,=0

4

$

80.433,>?

$;2.?2?,== $

?00.:23,38

2

$

=?.003,>3

$;2.432,2> $

?;2.800,08

:

$

=2.>80,2;

$:=.0?0,24 $

40?.8?0,2>

;

$

804.>88,2?

$2:>.;02,>8 $

;;?.4?:,2;

Zj

$-23=.=;2,:? $-23=.=;2,:?  

0,?;

PTN  PTN 

:,:= OßGR (Cukftk< Prgpno)  Prgpno) 

Poro ka ksbkforng pksnensto, sk pukjk gdskrvor g dskrvor quk ka prgykbtg bgf nfvkrsnòf ks eïs vnodak quk ka ksbkforng rkoa, kepkzofjg bgf ka SOF quk ks eoygr, ao ZNT nfbrkekftg eïs y jk nhuoa cgreo ka tnkepg jk rkbupkrobnòf jk ao nfvkrsnòf nfbrkekfto. Zodao ;3. Ofïansns jk skfsndnanjoj-Sornobnòf jk Bgstg-Ksbkforng rkoa 0 Caulg jk Cgfjgs

$

?

-23=.=;2,:?

$

4 $ :8.;>>,??

22.488,?>

2 $ ;8.;04,3?

: $ 30.38;,08

; $ 38=.203,=;

?;%

Zj SOF

$?0;.=?2,:>

ZNT

44%

PKTNGJG

CA[LG

CA[LG JKRBGFZOJG

CA[LG JKRBGFZOJG OB[E[AOJG

0

$

-23=.=;2,:?

?

$

22.488,?>

4

$

:8.;>>,??

$ $4=.>23,3> 4=.>23,3> $ $2;.>>?,83 3:.>4=,:;

2

$

;8.;04,3?

$28.=0=,>0 $

?04.828,2;

:

$

30.38;,08

$2:.3>?,?8 $

?28.:4=,;4

;

$

38=.203,=;

$228.42=,2> $

:8:.333,>0

Zj

PTN  PTN 

$-23=.=;2,:? $-23=.=;2,:?  

0,?;

:,3> OßGR (Cukftk< Prgpno)

Poro ka ksbkforng rkoa kf ao vornobnòf jk bgstgs ks ao enseo quk ao gdtkfnjo kf ofïansns oftkrngrks, ka ksbkforng rkoa sk ag utnanzo poro puftg jk bgeporobnòf bgeporob nòf bgf ka ksbkforng pksnensto y gptnensto.

 

Zodao ;8. Ofïansns jk skfsndnanjoj-Sornobnòf jk Bgstg-Ksbkforng pksnensto 0 Caulg jk Cgfjgs

$

?

-23=.=;2,:?

$

4

-3?.?3:,02

$

-;2.::8,2>

2

:

;

$ :3.:>8,83

$ :0.>4=,24

$ ;8?.2?:,:4

?;%

Zj SOF

$-424.2=2,?4 $-424.2=2,?4  

ZNT

0%

PKTNGJG

CA[LG

CA[LG JKRBGFZOJG

CA[LG JKRBGFZOJG OB[E[AOJG

0 $

-23=.=;2,:?

? $

-3?.?3:,02

$-;2.?=3,??   $ $-;2.?=3,??

-;2.?=3,??

4 $

-;2.::8,2>

$-:0.:?2,>? $-:0.:?2,>?   $

->2.300,04

2 $

-:3.:>8,83

$-20.;82,02 $-20.;82,02   $

-?4:.?82,0;

: $

-:0.>4=,24

$-42.:00,>0   $ $-42.:00,>0

-?:8.;82,>;

; $

;8?.2?:,:4

$4=:.0::,4: $

?23.:80,4>

Zj

$-23=.=;2,:?  $-23=.=;2,:? 

0,?;

PTN PTN  

;,=4 OßGR (Cukftk< Prgpno)

Ags rksuatojgs gdtkfnjgs kf ka tnkepg pksnensto sk pukjkf gdskrvor quk fg prkskfto utnanjojks oa nfbrkekftor ags bgstgs gpkrotnvgs kf uf 4;%, sk pukjk gdskrvor quk ka SOF ks fkhotnvg, ao ZNT poro kstk bosg ks jk 0% y su tnkepg jk rkbupkrobnòf jk ao nfvkrsnòf ks eoygr oa jka tnkepg tn kepg jka tîrenfg jka prgykbtg. Ka prgykbtg fg ks vnodak poro uf nfbrkekftg jk bgstgs jk gpkrotnvgs. Zodao ;=. Ofïansns jk skfsndnanjoj-Sornobnòf jk Bgstg-Ksbkforng gptnensto 0 Caulg jk Cgfjgs

$

?

-23=.=;2,:?

$

8?.0;2,3=

4 $

==.0?8,80

?;%

Zj SOF

$4:?.0>4,?:

ZNT

2?%

PKTNGJG

CA[LG JKRBGFZOJG

CA[LG

CA[LG JKRBGFZOJG OB[E[AOJG

0

$

-23=.=;2,:?

?

$

8?.0;2,3=

$3?.8=;,=? $

3?.8=;,=?

4

$

==.0?8,80

$33.;;:,02 $

?4=.22>,=:

2

$

>>.?04,83

$3;.?3?,38 $

?>2.;0?,;?

:

$

?0?.2?3,:4

$;8.>48,>> $

4;?.:4>,;?

;

$

84?.?02,=4

$2;=.;?3,0: $

30>.>:;,;;

Zj

0,?;

$-23=.=;2,:?  $-23=.=;2,:? 

2 $ >>.?04,83

: $

?0?.2?3,:4

; $ 84?.?02,=4

 

  PTN  PTN 

:,22 OßGR (Cukftk< Prgpno)

Kf ka ksbkforng gptnensto sk tnkfk quk ka SOF y ao ZNT sgf eoygrks quk ka ksbkforng rkoa y uf tnkepg jk rkbupkrobnòf jk ao nfvkrsnòf ekfgr bgf oprgxneojoekftk 2 eksk ekfgs quk ka jk rkckrkfbno. Rk pukjk bgfbaunr quk poro ufo jnsenfubnòf jk ags bgstgs gpkrotnvgs ka prgykbtg nfbrkekfto su vnodnanjoj k nfbrkekfto su utnanjoj.

 

 

BOPNZ[AG ; Bgfbausngfks

 

Dndanghrocåo OJKABO. (40?=). botoaghgWojkabo.pjc. oaobkrg, O. A. (40?=). Oeîrnbo Aotnfo bncros 40?=. OFO PTNRBNAO DO[ZNRZO DGFNAAO. (40?;). COBZNDNANJOJ POTO AO BTKOBNÒF JK [FO ENBTGKEPTKRO. _untg< Jgf Dgsbg. Bmoporrg Lksüs. (40?:). Kstujngs tîbfnbgs y ofïansns luråjnbgs. Eoturåf< Hrof Bgagedno Jgfgsg Borrnaag, L. B. (40?8). Ka nepobtg jk ao nfjustrnoanzobnòf kf ka prgbksg jk codrnbobnòf jk prgjubtgs nftkrekjngs jk mnkrrg g obkrg snf oakor bgeg ekbofnseg jk sustntubnòf jk nepgrtobngfks kf ka bgftkxtg jk boedng jk ao eotrnz prgjubtnvo jk ao nfjustrno n fjustrno snjkrürhnbo jka Kbuojgr. ?3?. Kvgaubnòf Jk, O. ^., Oakeïf, C., Lgrhk Skro Orenlgs, E., & ]ovnkr Grjkÿofo, E. (400:). Ofïansns jk ags bgstgs prnfbnpoaks jk aos bgfstrubbngfks kf Kbuojgr. (b), 0 ‒?24. Igtakr, Pmnanp (4004), Cufjoekftgs jk Ekrbojgtkbfno, Eîxnbg< Pkorsgf Kjubobnòf Aggr, N. (40?=). Kstujng jk ao kvgaubnòf jka skbtgr ektoaekbïfnbg buyo obtnvnjoj ks ao codrnbobnòf jk ektoaks bgeufks kf ka Kbuojgr kf ka pkrågjg 40?0-40?;. [fnvkrsnjojks, (;), ?00. Tktrnkvkj crge mttp0/?/Z4;;8-EOKAggr-Kstujng.pjc Ekfksks, Kjnadkrtg (400;), Prkporobnòf y kvoauobnòf jk prgykbtgs, _untg< Buorto kjnbnòf Fobngfoa, B. B. (40?8). CNBMO RKBZGTNOA>>), Nfvkstnhobnòf jk Ekrbojgs, Hrupg Kjntgrnoa Fgreo R.O., Bgpurnfh Pgftòf Dkrkfnbk (40?>), Ofïansns jk bnbag jk vnjo jk ao vornaao jk Obkrg ROK ?04> Prgjubnjo kf Huoyoquna. .

 

OFK]G ? Jnohroeo jk prgbksg jk codrnbobnòf jk vornaaos bgrruhojo

 

OFK]G 4 AO^G[Z JK AO KEPTKRO