Odsetki zamiast pseudoodsetek (RePEc:sla:eakjkl:1OOPL

Transkrypt

Odsetki zamiast pseudoodsetek (RePEc:sla:eakjkl:1OOPL
"!$#&%('*) +$,$-.)/!&-10"210(,3)5476&6$#&8:9<;>=5;@?/A@A@BDC
EGFIHJLK3MNPOQ
RSFUTVFIWXN7OLYK*O[Z\.]^N
nŠ j hІi¡m_[hz}`<y(a*{*cgbd`Dcf`<¢†‘zeg£ bˆ`5¤Iuph.¥¦ik’x`5jla*”*b(a&*en‹—aqmf|zcophhnaqwg“bcgjn`<r@”q~ˆstjnuxeg•g`vux`~(Šnwgc`<hxhxa*op|z~ hhzu y(egr1{*–—h.`}i‡‚|zj˜`5hzœ5`~(c™ch[h hnwf bdw€c*uxh.aqb(i‡šg{*e€`5‚aqj[uwg{„*egƒ†`<ux…a*o›§X3egu3‹(i‡uža*~ `<u a* cbˆbdu‰aqa‚œi—wfrhzjn¨œ<~(a*mgŠneg{mfa‹d~(užj3bˆ‹(uiŸeŒjhzš€bduxu€uxe[b"£qŽŽ `
i‡e€u q~d`vq©xjn§o­mgwgq*w€`5uxunegª`<i«a*o®wfjnb(~(aqŠni¡mfhz~Pœ5‹(mg`ª{&X‹duw[i¯i—‘nš€{„uxƒ egiŠ h.u i—”*eŒhzjny({*{„`™ƒegc™`5aUh.i—‹(aqhn~ wg‘.c™ih ¤Ib(¨U*a*hSšfcge€`<ufa*¬nb(i‡u~(‹(*aqaXwfjnwfegœvu `5a‡ a*cg |zb(hga*¬n{‚”*j†a Ž


‚Š j.hz‹(~def a°‘.*i´wfaqc±€hzegef`<h.hzi~dquxhzefeŒ`5j[a¦{„cgƒµbdqcga*b(°qjšguxcgegbdІ‚j3`L‹(qopjn~dh.Іi—m²uxeghz~(`5m`v©†wg|Œuxa*c™egaqhz|z‚jh°‘.ic™hz¤·”q¶°jn{*bd*mfux|zeg`U`5c™uh.гi—ux‘ncgw`  unwgvh mpj[hx{qbˆquxj 
š™”‚j[a*•fqc~d Іhz`Ly(bde€aqu3wgi—egh[`5h vm³ ‹(aqa‡¡wg*hu3ibda‚uxi—b  hzjnœ<mg{„ƒ{‹(i¸`»¬ŒŠwfjn‘z~dbdІumg~"opj3‹(uXe†3jnu·o¹*uxuxw€b  uxjnegІ`<mgak œ<3axux¤ºož¥`5uxaq~deg‚`5jn§·o´¼7bd‘.qi‡w€uxegeg`<a*`<a*”koŸe€u ’f ~d¤³q“jnjŒo Ž
qb(‘w€i‡uxegef`<`5a*a*o”:½šDš¾qwgv¾*eŒwgjzeŒ¬jlcgbd~dhzc™c™hzhz~d‘xegšh.i—œ5`<ux{*eŒ*j˜aqegcf `vubd*aqhnSwg~duxa m  a*hzŠGbˆu[~ ¤°hzÁ~dh.Di—‘.i‡uxeŒeŒj¿jnoiÀrˆš€|zu bdegqa*Šx{„h.ƒgi¡aqhzoyd{q£*`’f¤ªe€“ujn`<”qegjneŒ•[jzŽ ¬
~(š™Šna*`<a*|z`<{„hXƒS‹(cga*~bd aq{qcjnhnqwgj3‹(šgegmgaqwf|zhhikmgj†3i—u ux~ˆuxegwg`<a:ef`5~"a*i—efhz`vu°`<{„e€ƒ uX a*|xbd mgh[egwg{qef`5a hzydegj[`<{„гƒSuxiXopD`uxwgydeghž`<aœ5hze€|zux`<Іmf`Š™`^¤Uops u  hzaqšgom u  jnjn{„Іƒ `


e€ŠŒi¡u mga*г~ ux`5{„`‡ƒc™c™hzhzbdmgcg~(bˆ3u3uxi‡eŒegjnhx{„ydƒÄ§cg~  b(i‡*aq`5˜aqbdwguxmqa*•‰hzbdoÃuf¤mg~(sl`UšŒjnjnw€§u.‹(mfawg~(h.`5i—¾x¬¡hnwg”*ega`<hz`5e e€ufa*¬™egwg{&‹(h a jn’f{*¤I‚j “jn ”qhjnb(•g‘~(i‡Š†`5efa*`5|xa*h”



`<opw€©u‹dit©*wgu°hx3šgu b(w€jnuxoÅeg`<Šna—`<a*mgb(qmgmgegcІamªDeg¬g`<u § œ5a¦a*3quxj:šg3bdu3uxi—ŠgDuxhÃb oamiŠxr1hz–—efq~dj:a*ŠŒci¡h a*bdegq{&a*‹(šg`1¤¡eg¨UuXhze€efux`5o¯”*~(*‹(a*aX~ b(hzbdqa‚i—i—uxhz”*œ<uxmgeg{‹d`vuu
iƁqmgš€cuxaDegegŠ `<h.a¡i—efhz`5a*y({*q`vbd¢nhz£³q¬[mg|[ožv‘.`vuni‡5j[egoÈ`5aiÆwgœv uŠŒi—uxm aq~ hx`5bdux‘.{„iƒ ‹(wfa*h ~  jnhn{*wg3ož© {q`5jna*{„efƒeg a ~dc™bˆPu u  Š jSh.Іib(a*uxwfefj `5a— ‘.wfi a*c™¤}hzǗqh.j i‡‘.`<a*io `
ІIbdegaq`5wfa&‹Éj  hz‘.Іib(a*¤Iyd–—œ<hzƒgeghna&‹wg*~ `Lhzh cŒj:hf‚¬Œi‡”*a¦bdh wga*mªc™¬xhz*qux j y mg‹(wga**~ `< a*`5œ<eŒa* egi—`<aqaI~ І jnb(a*{‹dwf©:j wgmSa* c™cfhzbdeg*aqaq—e š€ufu ¬†egŠ Š¡ ‹(‘za*b"~jSh[`<e†{qi¡*aqa*Šn~ mjŒ‹(a Ž
{&_[‹dc™©:hzІ~(‘zbdaqšµwfje€uxhnœ5`<w€{*u3*i—uxeg{‚`vjuž `Lh[hzwfšg~d`<a a a* ŠLa¦¬^`5 eŒe€i—uxaq‚i~  u jne†{‹(jµa°cfcbdh.*i‡aqž`5ef’feg¤Éa“šŒjnjn”q§ jn  •gbˆ~(uxŠnŠ `<a*h|zi—huxožegaa ~(h[jnw€ož©a mf b"bdjna3{*u *œ5egef `<`5h axŽ ¤


egua&*‹uni—Pu uxoÃb  m³hz‹(yda{q`I~(`5г¾:uxwgcfœv` u u†Š†Dm¯b(a*wf¼»Ê¦j s«‘.iˤ½Ì¬^¶°cgœ5uxbˆux{*{qqm³a*|z‹(ažh cuxhzŠcfbˆ~du3`<i‡¾Ãegwg`5*aÍ`<ai­‹(a:cg*b(hzq~ jnc€uxeguxwf`<a:Šnm¿ikj3wg‹da*uxc™y(eghz`5qhzj ef a‘ii ¬



w€u œ5~dqa‹{*q¾*yd{q`1¤
Î
ÏÑÐqÒӗÔÕkÖ× Ø*ÙSڮՇ۪ÜݰުՇßáàãâ
䊌Xi¡wgh c™h.©ži‡~d`5*a*mfwfŠ åžu egou j ophhxcŒ”*j œ5 ` i—u eghx`5yda°{*`[‹(a*‹(~a&‹‡ c™h[hz{qqožj†egi‡hz`5”*~ aqufegæ`vu[šŒ¬€j‰{*hžqjnbda3~(Š u u œ5`5§xq¤m³‹(¶¦aj[~d`<~(¾chxc™enhzmcg‹db(©x*{paq:hxŠn`<e†b(i¡a*y(a*œ5~hze€jŒ© Ž
{&~ ‹(axux¤bdux ¶oa*jÆ{qjn~dwg`5¾˜m‹dh[©x{q{a*eg~(`5`<¾ž§e€~duãc™h[mfwfœ5*hz`5Š a‚hii—u uxe†egj¯`<áqjn~(i¡~dŠLhz¤­`5{„ƒ¿¨h[çPmfwfeg~ wgu3mgi¡~(qh.jµikj[i«o ‹dux`XІ`<3a*uxybduxcg*bdaqqo a*wg~(e€`5¾qu.i‡‹(cgqbd`5¾qhz{*~ `5a Ž
~(šŒqjnjn§oèi‡`<І¾*b"Іj ~d *a*ub(`5h[mgwžo›~ ‹(a*hz~cŒ jžr$`5cefhzéLŠ u hz{e€‹(`1ux¤efs `5a̅w€`5efuxœ<éL~du q{a‹(‹I`1{q¬ * ¾**y(eª{*¤™` egšhz¾qožwg*`5`<ega*uxoœ5e€jÍuSb(hz~  *hzc€c€u užb(qj†i‡i—b(uxh œ5`€mw[i—o‘nmg{„~dƒ `


`<’fe†¤ni¡“a*jn~ ”q jnhz•gb(‘.~(iІ`Âæcg~d`<Šg~d*Pu a w€¬[u”q‹da¦©xi—{qa*ux|zb hphzwgy(§a*c™wghzaqqcj hx qjiêmš€uxefDhzŠn”qmÂhz¬eghzaqbd|zuxh:egš€u:uxeg늜vu mgwfcg*b(`5aqqœvjÍu‹d~ © hz{qj²cg`<Іa‡bd`5aqefwféLj u  {mª‹(`¤
 uxeŒjnocgbdqa* š€uxegв~  un5jnoðbdhn{**eŒ jnoðhzcgb(h[ {qa*e  h.i—uxeg`<m
î
i
S
o
Ž
n
j
ï
o
(
b
z
h
†
Š
ª
m
L
¬
x
h
P
ç
*
a
(
b
.
h
i

ñì*í `^b(h[{q*ega&‹kгuxcf`  u œ5`5*ux{‹(`»¬Œikj[bdux”3už~d`<¾·e€ux~  ¾*cgm‹d©x{3©SçPhzbdomP©fæ
¼Î½
òxó:ôÈòzõ¡ö³÷Sø ùõúdù&ó³û€önü"ý¡þ ñxÿ ó
|zwf*`5a æ
òzõ ŽIŠŒi—h  ú³Dhx”*hze€uÍwghÍwgaqchz‚j  mª¬
÷Ãø ùõ.údù&ó³ûô í ó ü"ý¡þ ì*íÿ ŽI{*‚j[efeg`5Šr$`5eféLu {qj3‹(eŒjª£³¤
sGb(hz*jnmgbˆuxož”qh.a*ieg`<u a eg`v ufhl¤¦ik¥¦jn`5a*w€{„uƒ˜‹(aІi¡~d`5h¾ãuc™hzòŒcgõ bˆu3*i‡hz~ egauxeg{„`<ƒga:hn*{*ux`vu `5eŒ”*i‡šŒj ~ h.e€iulu c™e€hnuµwg¼7~  Du.hzi‡”qhz`<ae€ueguxwg~ h ¾*wgcga*m³c™‹dhz© q{*ja*|xmh




š€c™u hzeg*`<Šxhzh.oži¡`5a*a |zh†½‡¬ e€uphÍhxšgŠn`5aqb(”3a*©x~
{*‹(uSa*wgi—eguxaqb |zhhzy(b(§:hzŠ†ŠŒmªi¡¤¦h ’xj a*”qò a*œ5`h ~dc™bd‚hnj[wgop*`<uxaqi—ega&ux‹koc™jhÍ~dbd`<hz¾:І~ m hzikcŒjnjãeg`5`5e[aqéL~d`5uxa {æ ‹(`Ée€u

 
ì 
ò
ò ô
ý¡þ ì _ h i—hzc€uxu·eg`5qu i‡b(h hx çPmÍa*b(œ<h.`5{*iquxhzefe€a*u°|zi¯hžcg{*bda*qega*ux{„ƒpš€uxšfeg`5a*ŠL”*¬L©xuÃ{qjni‡{„`5ƒp¾q{·ch.iki‡j[`5efefhze€~duX`<§xšŒæ j[§¦bd‘.i‡e€u·~  hzcg`<akhzcgb(h[{qa*e[Ž
 ñ
ñ ô ò òŒ õ òzõ
’xaq”*a*œ<`^·hzšgmãbd‘.i‡e€ux•ikjn*e€u {*qjnoj ò a*œ5`<op`<e†m³‹d©x{ ò  hžh  bdqjnopuxoj™æ
ò ôîòzõIönüý¡þ ì (ÿ önü"ý¡þ ñzÿ
–‹(—aqh:~ ‹(ŠŒaq~i— h hn©Í{*q`5j†eŒi‡i—`<aqyd~ {*`<haÃi—*ux|xe€h[©ÍwgefiîaÃb(*hzaʆi‡mãqwfhzbdbdmgaq|zoÑ`<o hz|ze€‘xu œ5eŒjnjnoè{„ƒãwg~ˆœ5uxuoë jn{„ô ƒãiý ux¨
b(mgbdqegj3г‹(uxoÃ{„mƒª‹d¬L©xu {xœ5¬^a·”qcga b(qò j   

~hz |xhz‘zcgœ5eŒ`<ajno`<ef¤îéLuxÊ{&‹(hz` |zì ‘x
œ5¬egh `<a* b(egq`<jna ojnu {„oƒtj²bdikhz‚jnibˆuxu ”q”3a*uxeg•t`<aÃe€e€uu wgò h.
i¡*hz|xœ5egh[©wgef`5aœ5hxÃyd§ãc™œvh.u ikj[‹(”qa*~d~ ‚j[oèhn{*‚i‡j†*i‡hz`5b(~ a*o ax¤




c™¥¦hz`5a‡3qu j ccg h.m¸bdi‡aq*w€`<a*egue eg‹d©xhh{qi—cfa*|zbdux*h‰eŒaqjnwgb({„h[~ ƒ {qu3*bdi‡eŒhzj¿`v‚uxi§‚u i‡bd”3‘.bduxhi‡•¸ egik`5œ5aq`5{qjn” *eghz`5bdeŒŠ³mgjGufwg¬}efi—”qhzaqa²ydw{qcD`mfh.h |‰ik bdjn*‚ož”*j[~(op3`5a*uGuxefegegçPhx`<aakbd‹:oÃi‡~ m*hzhzDcŒu˜b(jmhze€Š†cfbdu:bdaqhnŠŒyd{*œ5i¡a*ue h Š† h¾°i¡i¡hwgaa‚‹q¾ Ž ¤
‹db( uxh[г{q©*e€c™©Sh.i‡~ `5hzegc™`< a*¾e²‚i‡h  bdbdh ‚j[mopb(ux‘.§Xi‡wfe€a*© c™hz¤ºega*s¿e ux”*c™e€hS©Së{qa*œv{„u ƒ€ ©ux{„ƒªa*¬.|x‹(hÍa*y(ikœ5`Âjnšgbduxux”*egaqŠeghx`vu°šg`5‹(aqa*{*~ m³‹(ç7aXu Šom²¬g”*bdaa3u šgœ5`<e€ a‚© Ž





ñ
”*cg©x`<a*{3egu`<¾*i—wgux‚b j hzšgydux§·egŠŒŠxi¡‘.i¸h  j‹duxòxŠžó `eg`<{„`5aXƒ²*Šnuxœ<œ5`5aqaq”qe jp‘.h[iw²¤}`<¨UefhzéL*uxu {&‹(`1j[¬no Š  ‘zbd‹(uaqcg~ bdq~ a*{qhz`5cga*©Ã”·bdwfa3h u  œ5jne€{*©fq¬nj{*3‚jnuxb(œ5`‘i‡~(Šxefh h Ž
b"*j[ux|xœ5aqh”*i—a*§¦uxe€hn©SwhS`5e[~ éL hzuxc™{‹(¾·`»¬†`5`efé€uxuxŠÃ{‹(iX`»¤ºPu ¨
ydbˆegu3`<i‡a
`5‹(w™aqD~ h.iiÄuSbdŠ hzhz‚bdiaq Š ux”*uSuxeŒcñ jnhzo œ<a*|Œcg u:b(qe€jnu c€ux jnwfoŠnm¬g¤—”qa’xaqñ ~ eg`<aXhožŠ†b(hz‘ ”*a Ž
І`5amg3u ~ˆuxwgef`5a*ef`5a°oža   h[w[jpœ<`5{q*a*ef`vuhzcg bdhn{*aqe  h.iu eg`vuwfa*c™hzqj  ‘.i«i—aqwDmf|S¡opa  hnwf j
ʇs« Ë͚Œ¬€j˜`ci hzг jnuxoð*ux§op{q`<h²a‹(~(~d{*`<¾mª¬fwgiȁq`5a{3‹(una:vai¹‹bdožhzaq{*h[`5©nwf|[*v`5hza:ydc{q`ªh.i‡*|z~(ux*wga*{„3ƒfu ego`5jaS~~(`5¾hz~(:hi—’f¤Luxeg“a&jn‹X”qjni´•g~dš€Š†u `<egoŠx¤ h Ž
i¡ožhz`5aÍyd{qož`1¬ª`5*a*unb(*D‘xhz”*eŒojno jwg~ œvuphzc€mg©˜cgbd`<hxef~déL*ux{q{&*‹(aq` eg`vufô¬^”qaÏ `5e[ô éLux{‹dupô m  ö.b(ö.qöUjnoÃô m³‹(óaS¤~( `5¥°¾Ãu3e€i‡u`5ux~ ~daquno5jnoèož‘.c™i‡hz*`v©x`<h { Ž ¬
cg~(‘b(iŁqjãikc™jnhzw€œ5` u j[‹(a{qa~d`<r&¾ uxe  h‰ jn`5šŒefjnéL§²u {q3j3u†‹(Deghza”q‹&a*…egì cg`<a*b(oh.iìwgux hzwf~(*jnhz§egìa&
bd‹°a*uxcgœ5bd`<q~ a*jnÃ{*hzqeŒš™j[ìa*{qoãeg¤la*|x˦hi¡h `5efu`5~ h  bˆbdu‚j[op`5eguxuxe€e[u Ž

 
cgb(*aqwfa*c™hzega*e  up c™hžëµœ5u  ux{„ƒ²ikjneg`<a*~d`<axæ
òxóôîòzõ}önü"ý¡þ ì þ ñxÿ ó
ˇi—h Á· wgu *òx`<a ó ì ikþ jnbdñ ux”*‹(hza*eg~  uÍ~ iȏ hzc€{*a*©Íeghzuxcg{„ƒ˜b(h[šg{qa*`<a*e ”* ©xh.{qi—jnux{„egƒ˜`5užš™¾*wgwfaq*c`5hxa·qožj  `vmãu†PhxuçPi—a*b(uxh.b i hzuxydeg§ ©žæ cgb(*aq:š€u egŠL¤
ò ó ô üý¡þ òxó ìÿ ó ô òŒõIö†üý—þ ý¡þ ñ ì ÿ ó
t
s
5
`
g
w
x
u
S
§
‡
i
5
`
*
¾
{
U
¬
q
”
Í
a
d
b
n
h
*
{
*

g
e
u
~
z
h
€
c
u
z
h
g
c
(
b
[
h
q
{
*
a
e
.
h
—
i
x
u
g
e
v
`
²
u
‡
i
g
Š
P

x
u
f
w
¿
m
™
š
*
¾
g
w
q

5
`
Í
a
d
b
.
‘
‡
i
€
e
u


¬
{qhxh²çPaqbd‹(h.aqi—~  uxegikaj[‹ºbdcguxb(”**aqa*eg¦`5aqš€oVuxef3Š™u3¬qi‡‹(aq~dydqœ<a˜` ožjnœ5egŠx`5h a&‹(~d‚‹(j[a*~oVi‡hn`<w ¾*Іñ ~d¬¡qa¦{*‚hnj[w͜<`k*aqh[bˆwuf¤}bda*äXuxqœ5efe€aux‹Í{**~ u  hzcŒhgj ¬z”q‚a¦i‡šgbduxh eg mŠ
š‹(™aqa*~ pe€”3uxuxwg~(qefjna*oð|zh*mfw€3u uxeg~d`5uxaqwgoïeg`<uxa*b(eg|z`5mguožhza*š™e {*`5©x¬€”3Š uãì ‘xwgb(j²a*c™ c™hzh.egi‡aqe `5eg u˜`<a*e²ŠxhxšŒ~djn §: uxcgožb(q`¡j `<efhnéL{*uxq{&hz‹(eŒ`1¤jUcgbdhqa*iXPuxc€y(uxege€`5ua
’c™f¤h[wf“opjn”q`<jnh •g‘.~(iŊn`<a*Šx|zhzhf~(¤ uxopa  `‡h[w€`<efupéLʦux{&s«‹(`1¬}˛ bda*š™uxh.œ5 i‡`<*`5m³aq‹doð©x{²c~(h.cgi¡bˆu3h[i‡wgm`<a*‹(wga‡œ<‹(`<i—a*wf©µe€ux*uxŠx~ˆh.u i¡wgaþãhzi¡š™a*{*w™`5©xD”*mgaq|leg`5Š a‘zhzbdšga&m ‹
~(egŠn`<a·m  ~ˆŠ†©Í`—œ5`<aqefcgéL~duxqa{&‹(`¡hnwc™h.cgi‡`5aq`5egeg`5eg¾qapwgqwgjh  wgjna*гc™uxhz§egaqгeux”qufwg¤a*|zh͋(a*wge€u Šxh.i—hf¬Icf`5a*ef`v©xwgqaš€u egІm¿i— {*uxœ5a

c€u wg¥Š†m `<a*~ mg wga  *j `<a* œ5uxaq|zegh `vuµ jnІcgbdmžaqwfuxj bd |z‘.mfiop¬°aqŠ e hz opjx¬ŒcfŠ œ5 a ‘z b(ega`5aãch.3i‡u†P`<uxegoÃegam‹db(©l‘i‡~def`<¾˜`5a**”kuxšŒbdjn‘.i‡§k~‚egvhmg~di qegakožia  cghnwgbd‚qj†`5aŽ
‡c™¥ h.s«i—hnËÍwg¬gm ‹duxe€Šµuxœ<`}a*”qiÀjlcghzbdšghz`<cgauxož|zh.a ihnu wfegjla‹:ccgh b(*bˆaqu Š ’fh.¤ºi“uxjn§²”‚j[b(‘.•fi‡~dІeg`5hzaqbd|zqh‰¾*wgopefa `5a hn`—wg*hn`<wgažbdqʦmgs«{*`<§xËS¬}¤ ož ‘i‡ a*`5|z©xh{



‹(¾qhgq¬
jn”*Іa²`5a*a‚o çPa*Š ’f¤Uj†“i‡jne€”quGjn•gb(~(h[Šn{q`<*a*e€|zu‰hf¬L~ ‹duxhzŠ c€h˜ueghx`<cga*bd~dhncf{*bˆaqu3ei‡`5h.aqiwgœ5ux` efi—`vaÍu`}Іegbdaq`5aqwfœ5j hz|x‘.`5ið{*qeg3axu ¤œ5a*¨U”‚j¿h.i¡hnh[w¸wgaq`5e[o éLux‹({a*‹(~ `» ¬
uef`5ac™h.i‡`5eg eguf¬Œ‹(aqydœ<`Uhzc™a*b(m³‹( a*o:j˜c™h³‹(¾*{q`5aqo  b(a3uxœ<ega‹~  hzcŒj cgbdhn{*aqe  h.i—a&‹q¤¨Uhzef`5”*a&‹
*uxcgbdhxchze†m³‹(aqoj²`<egeŒj~dc™hz~(‘zš  bˆuxŠ  h.i—uxeg`5u͊†b(a*wfj  ‘.iêhxbˆux·e€u œ5`5{q3uxef`vuhnwg~da  aqŠ™¤
S
Ò Û zÒÓ"Ò !#$U&Õ %àpÜ
uXc™hzcgbdu.i‡eŒjS`f~dcgbdu.i‡`<a*wgœ<`<ikj~dc™hz~d‘zšÍ~(cPux{*uxeg`5uXŠnb(a*wfj  mmŒiu ”3ux§‡š™¾*wgq`5a*o:j  u Š ©
ožhzš™a {* `5h[©xwg”*¾ aqeg¬ i`kŠxŠ hx ~d‘x bdaux‹Uož*ux`bd`<‘.efi‡éLeguxh°{&‹(c`1(¤ hz”‚'&jneg{*eŒ*j[Š ožh[wg`¦u.~‚i¡Dh.{3iku[¬qjx‹d¬kuxŠm†i‡`[qc™|zhzœ5”q¾qjnwg{qeg*`<Šxa*hxegšg`<aã`5hz`<b(ef{3éLu°ux~d{&©}‹(`‡‹(a*egwf`5e€auxožŠxh.hzi¡”*h a

~(jnŠnom  ŠxŠ h.hzi—e uxaq§²Šnwgy({*hn`<w€a u  bˆŠxuxh.wfikjnjn{‚j.op‹(eŒ`¡jbda3~(u cœ5eŒhzjn~(‘zopš`}e€cguxb(œ<hx`5{*± * uxu egop`5u:`}wghnwgœ5u~da Š a*‘zŠb(ah[‹(w²Š hzwgœ<i‡aqc`<a*hxЉqj *a‘.i~  ‹(b(aqhz~ eª¤eg`<s a‚Ž
c™hzcgbdu.i‡eŒ jÍ`€eg`<a*~(cg bˆu3i‡`5aqwgœ5` ikjSc™hzeg`5a‚iu ”¦hxš{q`v©x”qa*eg`<a¦wf a*c™hzega*e  u:Šxhx~d   uxož`€`5ef éLu {‹(`
‹(e€aqu ~ ~d mŒ`<iegu[eg¬ aÃegh¿`<”Ãc™š€h uxbˆefuxŠnŠ m¬^h.i—{*h²uxegc™`<hzaгІuxbd3aquxwfefj h‘.i›ic™i hzcgb(ux*e€aquxwgœ<eghz`5|zo `<{**c€eŒuxj¸bdux~(|zcbdhxu ~d±€‘zaxšG¤‹d¨
u `<Џa*b(wgi‡a*~(c™*hzáq{*j h²‘~(i`5¾ ¤
sti¡a*‘.wi¡vmg{*|3u Š ~ž ‘z‚jnb"j[~dŠ{„ƒµ š€š€u u egegŠ†Š˜mÆhnožwg`5c™aqhbdi‡*hx`<e†a*wgjlefšŒ`5 hj€Dc™šŒhzj¸”‚j[bd‘x{q3”*u²eg`<{3cg©`<a*egbda*`5©xuxwgœ5eŒ*jna:{„ƒ`cg~ b( q‘zj3c ‹(oÃcgm³bd‹(hnaS{*aqwfe a* c™h.hzikq j[j {„ƒÂjz¬¤
_hn[wgc™~dPua  aquGЙІ¤›bd aq¨
wfbdj q j¯mÆwge€mgux”q~ a ‹¾*c™wfh.j†ii—unaqDbdux~(šŒj†j±€Š³‹(uxa*wg{&‹(eg`phxbˆ¼7*uxaqhi‡i¡qh¿|zœ5ã¾qwgmŒmti‡*e€|zuœ<¾*hzwgІefbd`5aqa*~²ef`5a*~dco Du Š jfu cg½` mguxwgœ5q`<3`5a*uxœ< {&h ‹(Ž `
eŒ~(cgjnbˆ{„u3ƒi¡ cg¾žb(* aqa*š€|xu hgeg¬ªŠÃ”*a ІbdaquxwfІj `5a ‘.ci hnwgega`<‹(aky(|z{*`<bdaÃhzqwg`7h²DuxšŒŠ†jÃbdaqoÃwfj m͑.m i® bˆu ož uhz|[c™vvhzjnšŒegjeghzwfy(hz{*cg`»bd¤ h. i—w€uxuwg‹(qaq`5o§SjSwgh~dhxç7šgux`5œ<a `



*š€u.u i—egunŠ:vo‘i mg~di‡`5unydDbdšŒ‘nj:wš€š€uxbduxwfeg*Š `5ha&i¡‹cg{*‘.bdihxçPaq~P‹(hzwfegi¡ux‘[œ5eg{„ƒÆ`<a—3c™uxh[~dwfuxawg‹(egyd§—`<{*wg‚j[h·{„ŠŒƒ¯i—caq~ h.i¡`<`€h[bdwghz‘.qiŠgP¤Æuxwg¨UmShG{qcg3ux`5aq~(b(h.i‡i—~(aq*|zaxh ¬

¨a*hbdožwg`5bdefmf‘|zi¹`5a ¬—qi‡ib(h op mGaqe І bduxaqœ<wfegjhzyd‘.{qiè`‡š€¼7uxegeg`<Š Šxhhzi¡o{*ml‘.ièeg`<aSm  {„u ƒgb‚{*Daphl~d~d`<`<¾S¾˜cgcgbdb(q*a*a*{*Š `<a*hz”Íe€uxi‡ef`5`5¾qax{*¬ka‹”qažcgbˆ‹(uxa*y({qœ5h.`‡iŠ ux §3hz½‚y ¤
c™eg`<hzaµ”qjn3{qu qj€~d
qjnhnšgw˜Š egh†¢*`<{„) ƒ˜½Ì¬cgš`<a*heg`5š€©xuxwgegqНax¬ oÏ hpmg~dc`—h.i‡‹(aµ`5efc™`5a*hzeãegh.3i‡u {*eg3`5aµ© §‡`<e†‹(ai¡qa*i‡~ bˆh.u i—{3uxux§ §:e€¼>‹du ux ŠÄjn{„šŒƒgjtož`v`5uxeg~ ef `·¼»egu `5œ5aa
{„cgƒg`<a*{qeg`5aq`<¾*œ5`Dwg,½ ‚+jGb(‘ci‡h[efD`5©xaž{*qhzhz~deghzapšfœ5ž`<i—r&ucfbd~dhxcg± b(*uxa*ož{q*`@eg…žhxwgyd§xœ5u¬  wgh˜aqccghxb(eg‘zšŒa*ejlu[*ux¬
{„{*ƒg*¾q ¾q{3~ uxh‰eg`5egu˜`5”qwg~dhqjnwgoža*c™`¡hzhnegwh.i—~ uxhzegcŒ`vju
`<qefhzéLšuxh.{&i‡‹(`1`5¤©x3–—uxh•¬Ui‡‹(`<a*¾*yd{qœ<a`‡‹q¬ š ¾qi‡wg`5*aq`<bdawg*wg©fhz¬†Š  ”*hza‡eŒjnci—hx”qunjn{*~(qcŠxhzPu šg`<hz~dbdmf{*ŠxuS{* Daqu ~( j†i‡i‡`5ega&‹º`<axik ¤´j†i‡¥`5`<©xa”*a‡i‡~d`v`<u ¾kwg*hza‡ož~(hli¡ hzwg`<œ5{„u³ƒ Ž

{q~(**{*a*q|xa*h¿|z‘xegœ5`<egaã`<aX*uxiÈ~  c™hzhz~dh.œ5~(i—Іux`5a§ ‹— b(a**|xa*hl{qqj†b(hzi‡*`5mg~ ožhzh.y({*i`»u ¬€egcg`vbduµ‚j²wghGwgmgš€”quxa‹‡egІ`<œ5m¯hzy(cf{*`bdqmgj3c€‹(uxoÃw€mu.‹d‹d©x©x{*{qaqjn|z{„h¿ƒãwgš€aquxceghxŠ q‘j i ¬¬
mgcgcg`<a*uxegw`<¾*Dhxwgydq{*op`€~(`»¤
ch.äXi¡|zh[b(hzwfophi—efuxaeŒc™jnhz{„ƒ²b çP|[a*Dœ<‘.ai‡egeg `<a*`<a‡y({*eg`v©†`5aq|Œcguxbdœ<hxeŒçPj[aq{„~P‹(ƒhzŠnegb(uxa*œ5eŒwfjnj o®‘i3u ¬ bd3h© wgi«3ux|[efv‘`5a*i‡o›efa{*‹¡mgožwg‚`5a*jnb(op*a `

 
-
i‡Š³ux`<”qe€wfužjnšg{„ƒuxegiІmªuxb(¬ªmguÍegгegux`<a:{„ƒ¸eg`<aqa*Šxmghz{qeg*hx{q`<opik`<jn{*{„*ƒ‰eŒjnІ{„bdƒªa*¬}w[jc™ h[hzwgšghx`<šghzbdeg{q`5‘aÍiq¤¦bda*–—~( `hz©ž~ ‹d uxu е eg`¡`Éceg`<h³a*‹dmgu3{qi‡*`5{qu`<‹di‡©ž`I~(š€`5¾uxe[i Ž

i‡Š h`5i¡ux¥b({qjnjx`<|z”*¬—hna&u‹Swgegcg*hzuxb(y(*w€{*aqux`ªwgefІ~ `5b(a*u.a*o i‡wfj `<cghz bdeŒh.h i¡j çPaa*~d‹~Pc™‹(c™hxhze€h ~d‘xuxaqšœ5efeg`5{a‹dbˆu ux*œ5Š eguxbdaqh*|zi—©xhÍwguxc*eguxhz`5u‰eg”‚jna*cg|x{*bd*h‰hzŠ šfhzš€œ5šguxa*`<egohzІbdm¸m˜{‚jz~d‹(¤ ca*~Du j¸iXP3uxu y({*{*`v`<©†i—|zu‰eg`<h[¾ {qa*a*e€|zhu


Іbdaqwfj  mhzcg`5aqbˆuÃ~( `5¾e€uSe€ux~  ¾*cfm³‹d©x{qjn{„ƒ cfbd*aq~‚Duxegгux{„ƒªæ
. hnwgwgq`5aqœ5a*ef`5a—bdu  jÃc™hz”‚j[{q*hzefa‹}ŠŒi¡h  jÍhnwSh[wg~(a  a*ŠÃeg`<akoubˆux{&‹(hze€uxœ<ega*|zh·mf3u³Ž
~d~(Šxuxhzwgb(eghÃ`<a*` eg`5uxufŠS¬†u—i‡‹(ca*wfDuxjn{3egu `<oajÍop~dumg{„ožƒg¾°uxbˆbduxu Š jža*bI`Lh[cgwg~(jn~(a {„ƒga*hzвœ<hzP|z©x`<{q{***egeŒ`<jžax¬Œhi i© aq bdcgožœ5` `5i—e€a&ux‹}{„ƒži—uxikb jn hz*e€yd{qu³`1Ž ¬
 

{q*hzeŒjn{„ƒ˜ cfbd*aq:šguxegŠ/+
. c™hz”‚j[{q3uxef`5acg`<a*eg`<¾*wg‚jGcgbdqa*²š€uxefŠlc™h.i‡`5egegh˜š†jn§²wgq`vunDuxœ5efhzyd{q`v©~(jnopa  b"j†Ž
{qbˆ*uxe€Š ©Ãhwfi—hÃuxcg§Xbd‚‹dj3ux‹(Šxophãh.`5i—eŒi¡uxega*~`vu:j[wg{&‹(a*axc™¬ºhzwfqjœvu  ‘a*i|z¤¡häXc™šghzeg`<a `5”q ~daX*uwg*ož`5una Pu hnœ5egw€hzu:y({*‹(a*`L~ ožhzb(”*‘.e€i‡u:eg`5šaqh.”ži‡cf`5aqbdh o Ž
c™hz‚j[ {&‹d©ž~(chx~dhzšgmãbdhx*œ5`< {**uxeg`vu:wga*c™hzqj  ‘i  a*b(op`<egh.ik jn{„0ƒ + 
. c™hzcgbdu3i‡eg`5aSqwgaq±€ef`5h.iu e€ub(a3uxœ<e€u²~  hxc€uãcfbdhn{*a*e  hi—uef`5aÍophx”*aS3u œ5a*”qa*§žh[w
`<mŒefi‡éLqux|z{&œ5‹(¾q`1wg¬†egu`v{*u h§3`<efu éL uxj[{&oÀ‹(¾·`<iwg*`<axux¬ŒŠ†ŠŒ`^i—~(ch hzjp~(‘z~(šªc¬™Pu ux{3šŒuxjegašg`<cga*bd”3q© a*{3¦uSІibda*uxw[b j hz y(hz§:šgc™`<hzPbdux{q{q¾hzeŒc™j[h.{„i‡ƒ˜`5egbˆegu a
efwf`5h ajn3{*uxqœ<j˜a*”*bdun‘.Pi‡užegh[`<wãa*”S~dc€wgu aqwgcІhzm‚j  i‘.uxib  ¬ hzy(q{*eª`¤e€uxbdšŒa3u j†œ5i—e€{qu*a&~ ‹Xhzcfcg`5ua*ef`5`v{„©xƒ‰wg*hzufcg1¤ b(h[U{qupa*e ~ˆu h.oi—uÍuxegmŒ`5iuuxeg|z`5ua


ožhz ”qa·3uxœ<a*”*aq§h[w~  hzcŒj`5ef é€ux{‹(`» ¤
‚¨
j ¤¡mg ä·egm Š {qcqa*j†ho i‡mf`5ikcy({*vj.`<j†ax‹(i‡y(¬€{*`5ëµ`5a²u˜ope¸w€hxuxœ5”*u œ<a~d q¬hzjnhz*{„egcgƒ¸uxbdhnb({*hz*{*quxaqi—e§: ux`<h.eg”3iu eŒu •ãj²eg‹(hza*a*|zІ~ h‰bd aq~‡i¡i‡h[a**w‘zwgbv~(mga Î|µŠxhzh.bdІa*ikuxb(jãa*œ5egydegœ5a&u‹:cª‹d¤I©x~ {‚ophzjGcŒ`<a*ji—~d`5uxcg©xb {xb( h[¬nhz{qy(i—§a*‘.e i¡wg h.a*{*i¡c™*uxh a~‹Ž
ññ ` ì3í e€u œ5a*”‚jã3ux~  ©†cg`5§bda*uxœ5e€©ž~  hzc€©cgb(h[{qa*e  h.i—©hzbˆu :~  hzc€©p`5eféLu {‹(`^iŸhzІbdaq~d`5a
hnŠgwgPu ~dwga h.Š ikhj[ik{„jnƒÂoã¤Isl¬fegcg`<a*bdh.oži—egux`5wga&‹åq‹(oaqjwge€eguxh.ŠÍi—mga”‚c™j†ih³‹(ux¾*§°{q`5šax¬f¾qwgŠn*œ<mg`<a*{*oqh.jÍi—hzaІwgb(a*œvuS~d‘.w€itu œ5b(~dh[‚{qjn*{„eŒƒ˜jn{„bdƒ:hxq‹di—uxuxŠx”3h:uxcg•Âbdæ ‚j†Ž
°
¶
‚
a
€
±
g
e
5
`
&
{
d
‹
u
2354*687:948;=<>@?BA CD<E682GFIHJBK:AMLNK:JPOP<E948;1QERTSNUWVXR:Y[Z]\_^TSN`ba]cdU@efa]gha]cia]QjlkWVmUfn]`poTq
Q`ba]r,sa]cdQUtnvufgw`bn_STZXxzy{meWjl|W},Utnvui~]rcRsav~]jX}5|WVmQER€ ¤
 aqbˆuxµ~(a*wgeghÆhzopu.i‡`5uxegaq|zh  m«cgbdhxšgœ5aqoÃmª¤ÀËux”*w[jz¬Xmg{q*{q`<i‡`5aµcgb(*aqwg~  u i‡`5hzeŒj
cg~ œ5hzuxc€eÍ©µ~dccgDb(u h[ {qjSa*Іe bdaqh.wfi—j ©  mh`b(~(*ca*P{qu q{3j†uxi‡eg`5aq~ |z jnhµ{„iƒ²ŠxçPhzhz~(b( op u `<a{„ƒëtikbdjnhnbˆ{*ux*”*eŒujn‹d{„©xƒ¯{qjnbd{„u ƒ¬I~(`5ož¾‡bdhza*”*uxe€œ5ueg©ikb(jnh[bˆ{qu **e€`5©§

 ñ

‚
cgožb(`vquxj efhc™i‡hz`<ož{*`<h[ax{‚æ jÄ~  bdmfŠ  mgbˆu œ5eg`<a`5wgaqe  j[{q*eŒjn{„ƒîi‡*hzb(‘.i e€u¸ikjn~dhzŠ hzyd§  jn{„ƒÈbˆu  ¬Xu
¼ ½
ì yÂ(ô xƒyLö³òŒõ}öx÷Ãø ùõ.údùly5ûLö†üý¡þ ñxÿ y
_‹d[uxaqŠ·egÁ·~Ãegu}wgc™‹(*h.a*`<ika wgj[aqì eª”qy ~d¬z‹(qœ<aqa*a*~ |z{* h‰¡bˆe€u i‡u° *©SëžhxcbdІmPbduxa*{q~ w[hzuxj e€eg©Ã‘.`<ai¯iî~(*`5Š ¾žuxhz{*•gh[`5©n{q{q…m |zqj†ef„7i‡`5Ž ¾  `5aq~ jn|z {„jzh̓k¬bd‹(‹(hza*a*Іwgy(œ5mªeg`I¤hn~d{*c™qh³a*‹(y(bdeg‚`5jna o¬Œ|zj¿wg*eg`<u˜a†„PŠ†Ž bdja*w[Іj bd aqwfegj `5a




wg¨
h bdhxj[c{qhzqefjhi—ŠŒi¡uxegh aj c™xzh[y™wföaòz‹(ydõ {q`[`5aX‹(aqwf~ hž cf~dc™bdhzPuxšg{*œ<uxa*oÃeŒj:m²‹(~(a*cwgPefu hzbˆj²uxqІh.bdi—a*w[hpj cm˜hÍc™mghzcq5i—j†i‡uxœ5`5u a „}bˆœvu u Š  ¤ h.iux§bdu ¾
~( cPcgu mg jegŠ ‹du m ŠçPi‡hz`5bdwfož*a*¾·efwg`vu¸a*c™Š†hzbd‚a*j w[ jmh[³vwghzu.”*i¡hx{qegj«a*|z~(hžcm˜hz~(І‘zb(št a*wfi j  ‹dhxuxšgІ`5hz`X b(*{qhxj~ e€u†u͐hzwfІhzbdŠxaqhzydœ5eguxuxe€eŒ©pjt`<œ5chzhny(§·wg*œvu`5un  ¤
~i‡(c`<Pegu `5aqježŠ†šŒ bdjna*§w[jiď ḿ3uxe€~duXuxwgc*hx`<~da‡*hz{q*šaqh|z‹( ‘z¾ œ5efeŒakjžbˆ`€u mŒ ji‡*¼7c™|zœ<hz¾*cgwgb(ef*`va*uxk§‡Š ožhzeghzІ”*œ<bd`<a i¡ hzeŒydjÍ{q`€bdhx~d*cŠgDuPuxjÍw‹(`€aqcgwfbdjna‚egçPa*Іb(`Da*½Uegc™{&‹(h a Ž
І|xi—bdaquxwfbdj ux e hzšfm³`5‹(hzažb({qšjzh.¤ i‡`< a*uxo cfbdš€a*uxqa*ege Š  h.h.i‡i— `¡uxmgeŒ‚jÄjn~d~(гcuxhzeg~(`<‘zašÄbda*b(hzux*œ5efŠgaP‹u wg~ m¯hzcŒcjGDu qefi‡hzb(ydh {q`m c™ hz”qš™jna*{qÍ*Šxi‡hx*šg|x`5hzœ5¾*b(wf{qmj



e€wfj†uži¡~da*c™b(hz~(~dj†‘x±€šŠ³ux~d{c‹dDuÃu  c™jhzb``<çPœ5a*hzœ5y(u§:Іbdb(u a* wf¤ j h.opi¡uxa*b |z hfi‡¬f`<Ša*eg‘z`<a*bdoïu:c™~dh.uxi‡ož`5ega*|ze€hpuš€|xuxi—eguxІbˆmžuxe ‹(aqh~ i—ñ uxhn§wgoÃc™h.mpi‡*`5a*uxwf{„ƒgegh `vu Ž




i—гuxuxcgeg` `<aãunvc™mªv¬€jn|zegwfegjnhz” y({*`¦upšhxaq~ u opegux`5b uX i‡‹(aq`5~ a*ef`v*u‰uxc™~daq`<¾ãi‡eghl`<hzm e€ upbdu cf ¾bd*b(aqa3ux~(œ<egcahz‹Ã~(‘zišuxbœ<`5 {*hzqy(a*{*eg`¦`5uSchxbˆ”qu jn{**q|zhzhnegwga*eŒ|xjh
qai‡s  qhzbdjnaqo´o op ¤ `<a‹(~d{qm:‚i‡ bd ‘n§*ojmŒi—ux|z¾—egu¦ç7uxŠ ¬ ”*a¡bd‘z”qe†jn{„ƒSbdux{‹(hzeguxœ5eŒjn{„ƒ²¼Di ~da*ef~d`5a
egegcÂ`5uf¤¦¬Â*cfuxbd|xqi—j uxbˆa&u ‹Xe ~d uxh.ožiuxa‹°ef`v~ uphzb(cga3`5uxaœ<egqajn‹k~dІimªux¬gb  ‹(hza*y(~ {*`eg~d`5caqhzD ux|z{3bdu uxe†egjn`5{q{„*ƒ‰hzegŠŒi¡uh `5œ< hz½ yd§ a*¤{„ƒf’xa*eg~ `5Š`<І{„bdƒµaqwfšj h. i‡h.`5iaquo Ž
ji‡n~(œ5qajn`<~ œ5aŠn`<i‡a~d ‹(‚a*jnwg~ eg uxІŠx`<{„h.ƒ i¡hãop hxhzc”qœ5P` uxik{*j[ux{„œ5efƒabdwghxœ5*upŠgPІux bdwfaq‘wfi´j hn‹(a*w€wfu3jni—eg{‚Іjz`1¬^ˆ¤ ož‡¦hzhx|Œ*©pŠgcfPuxbdw[*aqj˜wg‹(~  a*u3wfi‡jneg`vuxІ§S`1¬—b(‘z{„ƒg”*e€h[©§



mgІbd”‚aqj wf ja*{q*meghxiÀyd§Š hzi œ5a&‹(hne†{*jn*{„uxƒ¸{„ƒ œ5u Šnb(uxa*{„wfƒÂj ¤ hzslšgjn`5hxw€bdu{q‹(jao~d`5u¾ ‹d¬© ”q{*aa*|x‹(ha*~ hzІbdh aqydœ5u hxŠneg`<a²apopc™hnhxwg”*œ5a` ‹(i—y({*hx`5ydap{*`¡wgh˜~dccfDu bdh j Ž
šgwfjœ<a*oÃhzšgmµ `5hx~(bdc{qPjÍu  š™jµa*¦Š†b(±€a*e€wfuxj ef ~dmÂh.¬UikŠ jn {„‘xƒ²bdaÍ~dІi®m opŠ ‘.uxi І~(wfjnoœvu:u šgœ5eŒuxjegІ~(mªc¬nhzc~(‘zhz š¿ef`5aqmŒi—i‡uxq”‡|zœ5i‡¾qwg~d‚egj[`vu²~ І`<e `5a° a*~db(c™a*~hz~dІhzbdšŒa‚j Ž
~(DucP i—u  hfj¬xi3uxhzc™c€aqi‡uxb(eg{*`5`5um:‹d©hXi‡ ux*г‘z©Íb~ˆe€uxuopik©Ãjnbd~da*hz uxŠ œ5hzegyd©Í§‡~bd u hzc™Š†¾bdaqqwfi‡j b(h mª ¬Œmªq¤ e€uxœ<a*å*§—bdhzqŠ€Duxw ‹(a*w[j[efŠn`fwgœvu
b(šg‘`<a*i‡”*ef©xhz{*opa&‹¦`<ia*b(uxegb a*|zhzhSy({*iÈ`ºbd{*u 3u ¬Â~du`5aeghz`<š™a:{*ik`5©xjn”*bˆaquxeg”*`vuuS‹d©xІ{‚bdj[aq wf{„ƒj  ‹(hzašfef`5hzhzb(op{qjz`<†¤e€ux‡‡œ<e†‘i‡jn{„efƒhzopŠŒi¡`<a*h b(ega*cg|z`<a*hÃegiî`<¾*”q~de†a*jnef{„~dƒª`5a ¤



äX*egux{*qoj  u Šn`^b(hz*ŠgDuxwœ<`5{q*š€uxož` x/y‰ ¤ºs  aqwfj™æ
x y‰ ô
üý¡þ ñxÿ y ñ ü"ýIþ ñzÿ yhІó
|zwf*`5‹a „ ô¹ýx,ú Œ[ú3ö.ö.öú ë

‡¼Pe€‘.ui‡‹"i‡eghz`5¾qožŠ†~d`5a*3b(u·eŒbdju b(u°hz*b(ŠghzD*uxŠgwžDux‹(wga*m°~  ‹(a*e€~ u‹(Š e€hzubd‹(‚ožjneg~  `5efa&‹(`5~da*‹(©~(qi‡j‰ydwfb(‘[œvupw°cf‹(abd‹*aqhn{*wg`<¾c™ hefi‡a*`<|za*h²wgefІ`5bdŠxaq‘.wfi j  ihzšfc`5hzhxb(*{qh j Ž


~  un5j[{„ƒbdhx*ŠgPuxwgux{„ƒ—‹(a*wfjnegІ`D½,+xhnwgc™hi‡`<a*wgef`xi‡*‘zb^egu&„PŽ  ©bˆu  ¾ ì y‰ ‹(aq~  e€ux~  ¾qcgm³‹d©x{‚jæ
ì y‰ ôîòzõIöx÷Ãø ùõ.údlù y5ûLö ý üý¡ñ þ ñxÿ Іó
ožÇ—uxœ<bdeg`5uxaqaXbdŠegi—c™aqux|zh.bdhÃi‡mgefbd`v©xhxŠn**`ÉuxŠg~(egPcux`vuPwfu m:x y‰‹(~da*©ÍÍwfiÈjn`5efegé€cІux`[a{D‹(eg‹da*©²~`^ ef|xop`5i—a**uxhxuxbˆ”*u œ5œ5aq` e i”* egum³a·‹(cgaxhnbd¬Uwq”*a*aÍcgwbd{*mg‚‚jnwgjn~dqeg³`5egaqva*œ5hza*|zy(efhp§p`5a*cgikoÅbdjnq*a*Іe€šgbd`<u aqa*wf{*|z*j mãaq egmª`5`ve[¬€uéL{quxqbdjn‘.{‹(i‡œ5`»`ª¤egb(h a‚ŽŽ
¥bdqj°cgu3`5i‡¾q{*`5©x`5hx*œ5m³a ‹d© eg{`5a:wghІ bduxa*b w[ jjnІjµmvh m’fa¤x‹X”q~ˆjnux”qožjn•ga‹°~(Šnik`<a*jn|z~dhhzŠ ¼»¨hzyda*{qeg` a  bdu  hzbq‹(*¬a*wgŽef'hz' ~ TÎ ‘’a*‘8Š‚ cg½‚¬x`<a*bdeghz`<‚¾*i”qe†uxjn”qo{„ƒªj ¤
¶i‡`<acg`5aqb(i‡~dqa˜oža  h[wfj ~dcDu   j Іbda*w[j  m¯cgb(*aqwg~  u.i‡Î“*`<“*hz“ega~ˆ©‰i—a㏠i‡~dc™hzopef`vuxeŒjno
uc™xb h[ wfjnaŠn‹(mfyd{qœ5a‡`5a `L¬™3*uuxcguxb(m a* *hxaqbde a*o›h.ie€u uxegqaSj†i—cuxh.§}ik‹(jna‡”*a&𙋰¾*wgcgqbdhz`5aqc™ohzjÍe†m³op‹(aqa o hnjw€e€uxožux‚`gi¥‡uxs«§opËÈa `™hnʦw€s«”© ‡ªËSs«8¤ UË b(*aq*{*eª`5a ¤



CDKtH•pOPK]L–>[HzCD<9N48;X2Hz—;™˜THšFI› ¤º¨}b(qj3‹(ož` ‹(ojžwghSw€u œ5~d‚jn{„ƒãb(hzqi—ux”*ux•²bdhn{*qe€©Ã~  hzc¾
`<ІefbdéLaqwfuxj{&‹(`™‘.egiÆu`fchnhxwg*c`5hxh.opi‡`5`<uxa w€‚’u“8‹dœ ©x{qa—` TÎ`<oê“ ŽbdhzcgqbdŠ€hnD{*uxaqwfe j‡ h.‹(ika*wfjjncgegb(Іhx`1±¬xhz bˆŠnuxb(¡a*wfh[jwfch[h.w€i‡u3`5i¡aqwg{qjxeg¤ `<a—‡¦bˆuu  jžjhn~dcwgDegu `< a‚j Ž
~(~ `5hzhzegc€a¦©Swg`<efhÃéL`<ux{„ƒp{&‹(`1i—¬fuxcfb bd a*hzqyda*{qe `itm‹d©požc™hzožhzega*`5eg”q~d{qq`5a‡a 3uxux{qš™`va*©†œ5|za eg¤ `<¾*{*`5u·Šnb(a*wfj  mª¬g{*‚jnœ5`™*wfjn~dŠ hz e  h.i—uxega



‡
¦­¡l£
µ
·
¸
º
»
tž Ÿ_ ¢¡l£l¡l¤h¥/¦h§b¨wŸG£©¦¢ª=«_Ÿ©¨h¬
®:¯±° ²t¯° ³´¯±°
- ‚’“
*‘’
¶ “’“
¶“
**“
‚’‘ ‚’’“
¶8¹’¶
¶ ‘’“
-*- “ D D‚ T**‚
8“ T ¹ “ ’“*“’
¦­¡l£
µ
·
¸
º
»
¦­¡l¼=£5½¾§I«0¿¢ª=«_ŸÀ5£©Á
®:¯±°
²:¯±°
³´¯±°
“ ‚
“ ¹ “ “ ’* “ ’
“ ¶
“ T ¹ “ T‘8‚ “ T‘ ¶
“ “* ¹ “ T - “ ¶
“ “*
“ T ¹ “ T -
ÎÎ [Î Î
¬¬
¬¬
¬¬ Î
f
Î
¬¬ Î
ά Î
¬
¹
¬¬
[¬ Î Î
¬¬ Î
Î
¦¢¡l£
µ
·
¸
º
»
¢¦ §b¨Â§šžÃpª=Àv§IÃhÄm¼zÃÂÄŞÁÇÆÇÁ´ÈÊÉ
®:¯±° ²t¯° ³´¯±°
‚’’
*“*“
’ *“*
¶“
’ T’
’*“
’ “
’ ¶*¹
-
*’“
’ -
Î
¥ ŠxuÍhxi¡cfaµ`5a*b"bˆi‡u ~dj¯‚jopbd*egm `<a ‹(~(hx*Š a‰uSegi‡`<”˜`5wguxiѧx¬gož”qa:a cfh[bdwfa**q`5a*ae  ʦh.s«i—uxËSe€už¬— cgbdq©˜a*‹(aqe€wguxe€~‡uxopŠÆa bd ‘zhn”qw€eguS`5{*w€©fu¬¦‹(a”*a c™h[aq{qbˆ3ux©³ Ž
i‡`5uxwghzožh wgœ5ux{*qa*|zhg¤–—hi‡`5¾q{*a&‹q¬^mg oph.i—u²Šnb(a*wfj  hi— ucgbd‚j.‹(om³‹d©x{3u²`<egeŒj˜b(hz* ŠgPu w
bdmŒu i‡ *¼P|x`5œ5eg¾*eŒwfjžeg`vbduhx‹d*© Šg{XPuxi w‹(aqa*ewfjn~(egcІhx`D~d½}‘zšãophxc”*h a°bdc™qhna*šŒ{*3j© І Šxbdh.aqwfi¡j aXbˆhzu šg `<jphzbdq{‚opjz¤ ef`5a‹(~(qjn§}‹(aq~dq{**a·šguxbdwgq`5a&‹



h.*uxi¡œ5aaq¨U‹žwfhxi‡b(~‚h[`5Da{qmf*|zegm³¬ a&‹d‹Í©x{:`5e[~déL`5¤¡¾ux{Ë·eg‹(`»cªbd¬}a*¤Lw[ŠnçPj b(hza*b(wfoÃʦj ms«P©Í¥¦Ë«e€s«u‹(aqËÑ~ì y efbdP`5uqa:a* i¡{q‹(qa*hj†~ i‡ik`5i¡jny(œ5{*{3`<`5{*u a ‚œ5aj[§ І¬bd”qa*Ž&aw[h.j ikcg b(jxa*q¤o jãˁ3 uxu†”*Dñ*hzw[Ë ”qja*ÎTegbd“*hz`<œ m q~ˆ¬I‚’©x“8wgœ5aqœ eŒ{*j  Ž
 * ¹ œ
TÎ “8œ


Іegbd`<a°aqwfš€j u  {*hz3šf© `5{·hzb(e€{3u:uç7c™uxŠ hi‡jz`<¬€eg’f`5aq¤feĔqjni‡”‚j[`5¾q•f{~dІcg`Ébdmga‚çPcga*`5b(aqhbˆi—uux~(§‰`5¾XІcfbdbdaqqwfj j  aq*¥¦`<aXs«cgË bdqa*e€{qux`<i‡wtegʦa&‹qs«¤ ËS¬a‹(‹—aq~ˆwgu e€opuxŠLa&‹ ¬



cgb(qjn{*‚jn¤ e†jãožŠ†bdegaq`5wfa&‹(j ~d *aq eg’ñ `5aË ik ¬ jn’~d hz¹ Š œ hzyd‹({qa*`I~ c™hnož{*3eg© `5a&‹Šxh.u ik bdjnux{„ŠxƒG{‚j.bˆ‹(u eŒjãi—wg{*œ5uxuÜ5aڀuxefeg`5aʆmãoÃh[mfw~d`Іhxbd*aqe€wfuxj {q 3m˜ux§
’ñ Ë TÎ “8œ c™eg`<h a* ”qu hzeg*`5ŠgaqPegu `vwgukmp{3u†‹(Da*a*wf|xjnh°egІІbd`
aqoÃwfj mf ~dmª`¤
`<opÇ¡bˆcfuxœ5`5СР‹(h.aqi~ ux§:mf3aquxçPaq~dŠuxwgj†egi‡`<a*egegaž`5u¦c™wgh[œ5wgu¦b(c™hz”*hzaq|zegœ5©x`5a:wgmªŠ†¬³bda*”*w[a}j r&~(mªcP¤[ux~(}*jn{qœ5*Š a‚h Ž
š‹(™aqh.|zi‡hX`5wga*ohz~ ñ ¾qcgožeg`5hzaqbdy(q§xj¤}¨
{qa*bdeg‚¾¡j Іbda*w[j cg b(mªh¬Œi‡u¦`<bd‹(‘z`[”q`ega—b(hz*Šg`5 e[PéLu wfuxj{‹(‹(`[a*Іwfbdjna*egw[Іj `[i‡Ê‡c™s«vj†ËSi¬xu.c™‹d©}h[‹(wg a*hxwfšgjnegeg`5`<aÉa—‹de€uxŠu
¥~(‡Šns«`»¤SËÍË·¬nbdš™aq wfa*Xj c™h.b(‘.i—i‡hnegwghzmož*`5u.a*ikb(ÎTeŒjn“8j”*œ uÍ{*‚cfjn`5a*egb"`}i‡~d~dcqDaXu bˆ‚’j‰u “8 œ bˆjxu ¬[i‡š€šguxb(bdaqwfi *`5 a&aq‹°oÃ~ mbd u3{qi‡hSe†~dmgjnož|zaq`1bd¬fm³‹(‹(a*a·~ ’f¤gš“h.jni‡”q`5jnaq•[o Ž





i{q3uxІ~(œ5`5uxa~d`<¼Pa¦c€Š†u b(a*b(wfj Š  hz‘.•git{*h.h i— u²a‹
Šx~ˆhzuxœ<ožmgopa‹}eg~ u hxhzcg~ `5a u ñ efe€`5au‹ ‹(šguxuxš™bdwga*œ<q`D`5½‚a&¤‹I¨Ubd‘.hxi‡opeg` ‹dhzuxožo`5aqjzbd¬Legi `<akbdjnhzo聐Dhzož”qhz`5a&eŒ‹(jS~d{*i m
b(І*bda*aq{qwfj ‹duxhz~dšfe€`5hzu[ b(¬Œ{q`5jzeg¤ egakef`5”b(‘i‡efhzop`<a*b(egak~d c™hz ~dhxš†jÏ ~dcDu  jz¬†mŒi‡*|zœ<¾*wgef`vu‹d©x{qak cgbda‚çPa*b(a*eg{&‹(a
uxb  hÆc™hzbd‘.i‡e€u §µi‡c™vj†ikj«š€uxegІmȁµmgwf*`5aqœ5hzefa*|zh Іbdaqwfj  mî`·b(a*`5e[i—aq~  h iu³Ž
¿
s
eŒãjncg{„bˆƒSu ŠŒ{qj¯i—h ’f ¤¡š“¾qj[w€”‚©xjn{‚•gj[~dožŠ†`n`5aqbˆ|zu hg ux¬‡opuG`Œhz~(cgc`5P~(u m³ ‹(jza¤º¨i‡hzcegvj†`<”*ik~dqjÆaš€*aqux~ eg Іu.m¯i‡`<ia*eg`<Š a¡hzqœ5a&hz‹(~ e† jnun{„Dh°ƒÄ3œ5uxu {q*u a*{„b(ƒ¯cgegcg`<b(¾ q j a
mŒ”qai‡*І|xbdœ5a*¾*w[wfj eg`5aq*egux`5m{*`5©nb(|za*`<efe†`5i¡¾ a*h¿~  e€jn{u‹(`
hxŠxŠnhxb(a*œ5a~ ‹(eŒjn{„œ5ƒµu bˆ¬‡u cg b(i´qjÆop`5efa é€hnuxwg{‹(*` `<aÃʦs«ËS¬™`cgbdbd‚a*juxœ5eg* una&‹Dhz~”qa*hxegcg`<mª`5a ¬
‚ 

Wì Ë ‚’“*œ
cgb(h[{qa*e  h.i¡ a‹ ñ’Ë ÎT“8œ  ¤
¶
Ì <E2
Î
ýŒ
2Hz—;™˜THšF;†<JGÍ´Kt˜2;
Ï:Ð/Ð/Ð
ÑtÒ Î
Ó*Ô Î
Õ8֒Õ
DŒ DÒ
TÓ8Ö Î
ôþ
Ñ8Ò Î
ŒÔ*Ó
Ô*Œ’×
Ñ8ҒÓ
Ó*Œ’Ó
ôþ
Õ*Ó*Ó
ҒÓ*Ô
Ö*֒×
Î Ö*Œ
þþ
ôþ ýTýTÖ*Ғ×*Ö ÎÔ ô Ñ Ñ*Ô
ý
[
ý
þ
Î
Ò
ý þ
þ ý þ ŒnýT× Î þ Ó*Ó8Öný ô ýDŒ*Œ*Œ’×
¶i—°uxœ5uega&c™‹¦hzcgbd‘.bdqi‡a*e€:uxe€efux`vup~°ožc™hna w€h[u‹(wfa**o:`5a"j˜‡ªu s«e€uxËSœ5hx¬L|z3`5un{q*vhzeg”*aaqegik`vjnuSegik`5Іj3`1‹(¬Âyd{*ux`<œ5h.a:i—h[awfc¼7~ h.i‡hzc€`vu užw€`5uef‹déL©x{qu a{‹(cg`Éb(`Éhzbdca3hxu egœ5e€h u Ž
~iȏ hz~dc€a*užef~dcg`5abdhnšg{*`<aqa*e ”*©xh.{*ia&‹kuz½¦i—ux~ˆ ©b hzu ydŠn{q`^`<a:bˆu ~dux¤ ožax¬™uxœ5a*uxŠgPuxw€u ojbd‘.i‡eghzož `5aqbde€©Soža  h[wg¾~dc™Pu 
 
Ô
Ñ
Ì <E2
Î
ýŒ
2Hz—;™˜THšF;†<JGÍ´Kt˜2;
Ï:Ð/Ð/Ð
Ô*×*Ó
ҒגÑ
Õ*× Î
TÔ*Ô8Ò
Œ Î*Î Ô
ôþ Ԓý ×*Õ8ÓÖ ô ֒Õfý
Ô
þ
ŒÕfý þ
ÑtÖ[ý ô ýӒÑtŒ
Ñ
ý
þ
Ñ8Œ*Œ þ
Ö Î Ö þ ýNÑgýT× ô Ô*Õ*ՒÔ
Ò
þ ӒÔ8Œ þ ý Î Ó Î þ ŒnýDŒ’× þ Ó’Ñ Î Ö ô ýDŒ*Œ’Ôfý
ˁ*¦uxhzbd•ghz{*šfh.`5hzi¡egaÃaIc™cghzb(q*jna*—{‹(š€a:uxi¹egŠŠ³iux”qŠxwfhzjnœ<o a‹(eŒi‡jn`<{„a*ƒSb(~dœv*u mÂux¬Â{„c™ƒªh[¤U{q¨U3©3hzi‡b(‘.~di‡‚je€uxhnegw`<awg`5bd{„mfƒÃ|z¡`5aqhz|zšghgœ<¬™`5{*cqhnhzw€eŒujn‹dop©ž`ŒŠ†cgi¡b(h*aqj 
’egf`<¤a*“{qhjn”qi‡jn`5•g¾q~(ŠnІ~(`53a*u|xh˜hnw eg`<aÍa‹¡ikc™jnh[opw€uxu |Œegua‹I~ditc™a*c™{&‹dhzuxcgœ5b(eg*aqa*|zwfhãeg`5ŠxoÀhzož*aqa*~e  u.u i‡bd3`<a*u[eg¤`<m äX~ jn uœ5Šx hef`v°uc™chhzi¡‚jnhn{wg‹dm²u{*‹(‚a*j†~ Ž



egeg`<`<hza‹XeŒjnc{„hxƒqjni {‹(bˆ`»¬^u {„Іƒni¡mfh egгj ux{„ƒaž*~ uxihzІu bdbˆ3©†u.|z‹dœ<©a*•²`5œ<wgmghS‹({q¾*cg¾*y(bd{*q`^aqi—{*unuxD|zŠ `}hi‡op` a  jnhn{„wfƒªj‰¤ ʇs«ikj3Ë ‹d© e€Šnu `<Øw a*o ‡ªs«hz~ Ë u   Ž




cguxmf{„egƒŠ c™m¿hzcgi‡b(*`<wgaq*wgaq3egu`v‹du© {qІjnbd{„a*ƒ˜w[j *uxh[Šxwghzu.•fi¡{**{qaqjxeg¤ã`5a¥~d`5c™”q~dPqu aj²ŠŒŠ†i—b(h a* wfjµj r$m3ux~ˆb(©ShzšgiÈ`<hzc™ega³aŒv£‚egcg`^bdqŠxa*hxžopš€c™uxa*egegŠ~(h.i­iuxœ5efu³a Ž
eg`<a*{qhikjn”q~dqjnoÀwvmg|z`5aqo›c™hz*hx~  u.‹d©x{qjno›i   a*wfjÍwgh ~(cPux{qa*eg`5u·Šnb(a*wfj  hzšg`5hxbd{qjx¤I’xa‚Ž
y(bdœ5u `mfcgj[`5o aqbˆuxœ<§Sa*cg~(`<`5a¾S‹·cgwgb(œvqu²j c™ hzi‡”qjn`<a*{*bd*wfu*‹da*©xef{q`5a*mª|z¬^hg”q¬ ažh`<o 3uxi‡cg`<b(¾*a*Іq~da*qe aÍh.r$i—~dcuxDe€uxu˜~dqož{*qa a*egh[`<w€a̅ÍuÙc™‡ªhns«{*3Ë ©  Šx~dh.c™ika³vjneg{„`vƒ u
 hž*unDhx”*a*ef`5a·œ5aqcg`5a&‹kef`5”ʦs«ËS¤ 


¨
d
b
‚

.
j
(
‹
(
b
q

3
j
(
‹
o
j
d
~
<
`
^
¾
(
‹
q
a
d
~
q

*
{
*

É
a
(
‹
*
a
g
w
g
e
&
a
‹
—

ž
o
z
h
q
”
5
œ
<
`
¡
i
z
h
(
y
*
{
z
`
g
m
f
w
*

5
`
q
a
5
œ
q
a
g
e
v
`
‡
u
g
c
d
b
q

*
a
¡

€
š
x
u
g
e
·
Š
†
Š
d
b
q
a
f
w
j
ª
m
¬

hxçPaqbdh.i—uxega*|xhãeguã*ux~ˆuxwgux{„ƒlhxŠnb(a*y(œ5hzeŒjn{„ƒli›ch.ikjn”*~(qjno cgbd‚j[ŠgDuxwg*`<ax¬^i®Š  ‘zb(jno
‘
*e€uxu‡~ i hzu ~dbdh.mgi—eguxгeguxh·{„ƒožwga hz c€hnwgux~(¾†h.‡ªis«uxeŒËÍjn{„¬DƒÍÚn`vwgu‡h°i‡mf*wg`5¾q*{*`<a*`<a¡œvu i ega*wg|zaqh¦cІhzbd‚aqj wf j ÎT“*mS“’I“ ë ‹(a*wfeg¬ hz~  a*ŠŽ&h.cgi`5aq©¦eg`5`5¾qef”*é€eŒuxjn{{„‹dƒ ©

Ë ‚ ‚“8œ
`œ5u egcªux{„¤gƒ wg’ñ aqË c‚*hxœ ega*Ž&h.e i—h.©Ãi‡cg`Ébdš™h.¾*i‡wg`5q&‹d`5a·©Ãi wgœvu:aqwfwgj²a*c™e€hzuxeg~ aq¾qe cg ufm³‹d¤¡©x–—{‚j`v©†æ |ʌi—h  h[wgwguxeŒj[{„ƒ²i Šxhzœ<a‹(eŒjn{„ƒ


 
-  ¬ ‚*’“ ¬ ¹’¶ “ ¬ ÎzTÎ *‘ ¬ Î ¹ ‚ qš€‡‡a*u ‘z~ eg”* Іu3efi‡mª`5{*¬†`5a²a*Š efŠŒ`v‘zi¡u¿bdha‡` qh[hz²wg~ c™cgux`5h.e€aqi‡b(©i‡`5aqeg~(wg`5*aqegaq`5‹SiX{„ƒ¯ŠxDhnhzІœ<{*mgi¡qožegh `5 e†a‡j¿˜*uxcik`5eŒhxjni¡qcgjna*`<{~ ~ˆ‹(ux`—h.efir$a*Š ux|zu efh¸cga` {qi¡un`v©†ka*|zw`m¯vmghn~|wg ~(uxoža eg a h.Іi‡`$h[£q`<wfc§jÛhxšcg‡ª¾qbds«qw€a*©Ëwgegq‹djn`<uxa*~(|zŠxŠnhh `




mgmŒi‡wf**`5|xaqœ5œv¾*uxwfefega`5aqІegbd`5a*aqw[o´j  ~(jŸqjnegšgu~(qjni—{„uxƒb(mg~dc™egPгu ux{„½‚ƒ´¤Us hzІa‚bdçPa*a*y(Š œ5hz{*eŒ`5akjn{„c™ƒ´h³‹du3wgi‡œvuÄ`vu.cg‹d©°`<a*~db"`<i—¾—h e€ uxeg~ a*|x¾qh«cgm³Š†‹d©xb(a*{qwfakj І i¡m h ¼7j 


*uxbdhzšf`5hzega·cfbd*aqš€uxegŠpr$e€uS{*‚j[~  hL£³æ
Ì <E2
ýŒ
2Hz—;™˜THšF;†<JGÍ´Kt˜2;
ÒÎ
ÖÑ
ôþ
ÒÎ
΄
8Ô Ò
ҒÔ
ÕÎ
ôþ ×*ҒÕ× ô Œ Ñ
x
ý
ý
Î þ
Î
Ñ
Ó*Ó þ
ý
þ
×*× þ ýDÖÓ ô Ñ8גÑ
Ò
ŒWÑ8× þ
þ ýTÔ*Ô þ Œ’ÓÑ þ ÕfýDÒ ô ýDÒÑfý
r$ h[jnw³~d‹(Š ¾q{*‹( `<a*a*mnwge…²ef¬hz`<š™ef~ ¾*éLa*wguxв©x{&‹({qcg`Dj ½:`<a* ‚egjnjn`<œ<¾*~dŠx”*ŠxhãeŒh.jni‡aq{„çP`»a*ƒ˜¬ÉŠ ‹d uxa*b(Іo h[`k{qcghz*b(e€c™q©Ía*jnbdeg~ux`5{hz‘x‹(c€~‚`ºD© šgšŒuxj¸egcfŠx`5h.¾*¬ik{q`5jnhz{„œ<¤ ƒªa ¬€eg‹(`—a*~ І bdaqaqwfІji‡ ` ii u œ5a*ike jn ~de†hzjƊ hz¼Pydc{qh `
ÎsT“’“*c™“ h[wfhzšgeŒj͏ ~dc™hz~d‘xš:‹duxŠSbdhzqŠgPuxwb(‘.i‡eghzož `5a*b(eŒ*ñ jÍË op hz¶ ”qœ e€u:~(Šxhzef~ b(mgh.iu §·`5egega ¬[šguxb"Ž
w‹dg©xq{qhÍa*|z`5e hX i‡aqbd`5a*ux~(b(m³jn‹d|z©xhn{qwgae€b(©hz*cgŠgbdDhzux|xwfegjhz*‹(aq¾kwfwfjnh egІjn`^{*3eg© cª{3¤g©·hxwfc jn jne€ouxožuxœ<`5eŒŠ†j`fb(wghzœ5quÃi¡Šnh³b(‹(a*mÍwfcgj  b( *hza*šgwf`5hx~d`5bd¾q{qšgj`5hxcbdhx~ ~di—`vu uXw€u³i Ž


hzІb(a*~d`<a~dcDu  j²Š†bdaqwfj  mª¤
ܵ
Ò –× ÝӗÔՇٲØqÕ
se€u b(j[hzoÀ*ŠgDožuxwg`5a&*‹(`<~da¦{*m͋(a*i—w[j[uxefb  Šnh`»¬ªi‡eg~(`<cahzikožjnegŠn`<œ<a*mg§x{*¬†*”qu²aŠnc™b(h[a*wgwfuxj eŒj͑i›cgbdSqa*h[°wfegbdhnux~}{**~dhxc™e€hz©~d‘zcšpDu ~dcegDhxu yd jz{*`5¬n©fhz¤·c€slu b jŒj Ž
~’x aquxydb(œ5`Œ{*qy(bdj¿hnwgšŠxh.h.i‡i¡`<a*aIo i—uxcgb bd‚hzj3y(‹d{*©x` §xxz¬
y ”q~ˆa²©‡bdc‘.hni‡{*eg*©aI *Š aqhbdi¡maoi—u ouxb jX hzwgydh¦{q`—{*‚{*jn`5©neg|x`5ˆmaqegÞ`vukxzyp}ß {**~ˆ©˜ux ~db(h.‘.iki‡jnegoŸa²h[*wgaqbdb(mªh Ž ¤
{qhn*wga*c™efh`5i‡a*oŸ`5uxw€~(cuP‹(u a* wgjxef¤Uhzslbˆuxbdqaqh.~di—*{qa&`5‹
a¡~(cgcbdP‚uxj.{q‹(`5¾qaI{*І`<axbd¬za*w[”qa j xzmSyÂôi‡bˆÎ ux¡wgœv—u&hn„ wgô¹~da ýzгú,uxŒnožú3ö.`[ö.c™öÂh°ú ë hzІ b(a*ý ~d3`<a—uxy mgxgožóh.ô¹ikjzý ¬


ÎT“
Ô
{qy(œ5q`5jn§ œ5¬É`U”*hzacgef`5~(`5m³{͋(aeg`5Іažb(a*~ wfhzj `} e€œ5hxuoÃcfš€bd*uxaqb(~dwgqh.Šxikhnjzwg¤°*`<s¿a‰ux¼7c™b  hzh*ui ož jna*oÑe uxožœ<eg`5hza‹(y(~({*{*`vmž©²‹(š€aqu ~degqŠx{**h.aSi¡{*bd‘.uxiÃ½Ãc™h[uxwfšŒŠnj‰b(a‚i Ž


`<{‚wgj[a*qe m³ ‹djn©x{*{*q© e†j˜a*b(~dopc™hz`<eS~d‘xœ5š hzг u bduxj:Š `[h.ikijnu c§ÃDu wga*jSc™wghzhzegŠ aqhze eŒ ‘.j†ii¬uxef qaeªcg¤°b(**aqu3¦i‡šg`5a*uxbdeguxŠ:§ÃiƁ:egŠx`5hxožœ5a`^‹(eŒmgjnož{„ƒžhi¡œvu ¾Ãuxcg{„b(ƒªa‚Ž ¤




s~(`5¾cfwgbdhpqj3i‡‹(¾`<a* œ5amã‹}cgœ5hxbdŠ qua*°heguxbd~¡‘x”*`<e eŒ jna*{„b(ƒ cgbda a* b(uxop{&‹(`<`Le€~(uxj {„ ƒªm€¬Lu ~({c‹duPux{*uxuxгeŒu:jn{„ožƒpa ‹( a*h[wgwgeghxhxœ5hzbˆux|zq`<{*hqi¡egh`5a¡c™~dhpcgb(mfhci—vuxj†wgi‡*`5ua
mgož~"j h.ikm€j¸ux{&3‹d©fu3i‡¬ºiÅ`<a*bˆu Š eg‘z a‹žb(a‹eguG3uxгb(ux‘.”qi‡wfegj h‰  š€aqbduxožegŠ`5e ‹duxhzŠG~dhx`¡šgeg`<eŒhgi—ठaq~ ˜hxuxbSocj¸hz”‚i¡jn‘.{*i—3u.{q‹d3©ux~~dhzwfšghl`<a{qqгjnuxegcg`5` aquneg5`vju
e€*uxuž~ˆux`5wg wgaquxe {„ ƒªj[¤ {q*eŒjn{„ƒª ¬^eg`<Šxhz|zhpeg`5aikjnbd‘z”qeg`vu.‹d©x{qjn{„ƒª¬Âuži‡`5¾q{:mf{**{q`<ikjn{„ƒµ`Ɋnœ5uxbdh.i‡eŒ jn{„ƒ
m  hzb(‘i `<e  b(jn|zm‹(a¿‹du3i‡`<~dŠxhf¬:”qa3uxcfbda*qa*e  h.i—uxeŒj  mÈ~dc™hz~d‘zšêbdux{„ƒgh.i—uxeg`vu
¼Pa*œ5aqopaqe  uxb(e†j áIáv½eg`<až‹(a*~  ~  hz~dh.i—uxeŒjte€ux|zož`5egef`5ax¤î¶°hz~  u  aq{*qeg`5a‰ožh[{qegh¸hzc™h Ž
i‡{qhz`5Šxuxhzw€œ u¿i‡`5~(aq`5ŠÆ¾*`<eguegega*|x`5o h¸wguxh.b"i—j  hzopœ<ega a‰ jn|zŠ b(umgcŒ`jĜ5hza*|xŠ `5hzгegufhz¬kožuxšŒ`5~ jƑ.opihx¬¦|[{*vqjjÄ|[š€vhzux~degh.Š i—huxi¡eg{*`5‘.aqio ¤À~(mg’x|zaqwfaqbdjnh.eŒij[u o §
ikcgb(j ‘z š€vmguop*uux{*mgqa*~(*egh.`<a*i—o uxegeg`vu`<a*bdwgqhza*cg{qquxj†~dh.i‡i—`5~ uxegj[`v{„u ƒ¿~dŠx`<¾lhz~(wfhƑ.i­cgb( І*aqb(a*wgwf~ j u.i‡‘.i`<hz¬Éegš€a&‹©xwfopåža eg uxhnœ5wfaqj”*eŒožjn{„hzƒl”*aµcgb(šŒhxjn±f§ Ž
 ‘iÈh[wwg aqchxqj  ‘.i¬Lch‹du.i‡`5uS~d`5¾¡ ‹(aqwge€uxŠc† j  uxeg`5a æ
iî `5ož`5¾{*qa*|zh†¢
ÎzÎ

Podobne dokumenty