Study Hard!?

2. (International Finance) (Derivatives) (Financial Management) (Financial Market) (Investments)

3. (Capital Budgeting) (Long-term Financing) (Management of Working Capital)

()

*1.

* (Treasury Bills, TB) () (TB1) (Par Value) 10% (TB2) (Discount) (Commercial Papers, CP) (CP1) (CP2)

* (Acceptances) (Commercial Acceptances, CA) (Bankers' Acceptances, BA) (Negotiated Certificate of Deposit, NCD)

*2. (Bonds) (Stocks) (Common Stock) (Preferred Stock)

* (Mutual Funds)

*3. (Futures) 1998 7

* (Options) (Premium) (Exercise Price) () (Buy Call Options) (Buy Put Options) (Sell Call Options) (Sell Put Options)

* [] (Call) 7,800 200 ( $50)

*

(Futures) (Options)1998 (TX)1999 (TE) (TF)2001 (MTX) (TXO)2003 50 (T5F) 50 (ETF) (STO)2004 (GBF)30 (CPF)2006MSCI (MSF) (GBF)MSCI (MSO)2007 (XIF) (TE) (XIO) (TE)2010() ()

(Financial Swaps) () *

1. (Limited Liability Company, LLC) (Corporation) (Sole Proprietorship) (Partnership) (General Partner) (Limited Partner)

2.

1. Window Dressing

2.

(2)

3.

[] (Rent Seeking) ""

5. (Proxy Fight) (Hostile Takeover)

(Kereitsu)()

Berle and Means (1932) (Agency Problems)1.

2.

1 (Agency Costs) (Monitoring Costs) (Bonding Costs) (Residual Loss)

2

3. (1)

(2)

() (Business Ethics)

NIKE 1980 NIKE (60 ESPN ) NIKE 1996 NIKE NIKE 150 NIKE 2003~04 569 NIKE

(HP) 2005 P. Dunn 2 9 2006 9 HP

2000 ()

2005 5 5 5

*2. ()

*

* [] (Qwest) 1997 (Joe Nacchio) 1999 $64.5 2005 42 2007 19 6 1.9 2001 250 $1 2002 $1.11

* 2006 6 2005 2 NBS NBS NBS 30 2007 7 300 11.5

2007 10 3 (Airbus) A380 2005 11 2006 3 2010

*

* 5 15 5 (1)

*

* 6 171 3~10 1,000 2 (2)

[]*2006 9 29 31.4% 51% 8 $13 $24 5 7 9 13~19 2008 5 8 1.3 ()

2.

[] 2003 4 9 $2

Chart1

1.1419679568-1.3176

8.15666914440.6632518152

15.6607951631.0400343667

23.65422837752.466820692

32.13715575272.2369876132

30.50579042782.9633814102

27.0800134292.4290014607

23.98053190152.8641198589

19.41284114522.707149212

17.78154232232.0465368283

14.19262094622.6853481488

14.19262094622.4847009785

14.8451175823-0.75463545

9.9511077416-0.5504877351

12.5612370883-0.9423188134

12.7243383209-2.5406144994

9.2985329549-1.4720697968

13.3767891151-0.2466779288

7.83028321480.7065648169

10.11412861332.6208959075

7.66717244722.6227430836

3.58884762211.1571876896

3.58884762211.2491395733

1.95753044980.711405393

6.36209576520.2130853591

7.99337122790.9870310173

7.99337122790.7658694194

11.5823149342.0705858966

10.44038152291.9151323943

10.11414063592.1106056182

3.5888867761.2701332234

5.709558466-0.2693753419

10.2772684874-1.1246651789

17.4551056159-0.1545003937

10.44045179830.2029464949

13.37684253070.9933473369

13.70314108361.4448885928

10.92992147250.0811649555

6.0359151970.4189388872

11.2561693381-0.8276618202

11.2561693381-1.355754521

10.9298549934-0.9449998828

10.7666771767-0.8807131877

10.4403585457-0.0568336757

12.5610343105-1.3490988163

6.0357585905-0.452855379

10.6034609633-0.6624021185

9.1353106225-0.3022039886

5.8727105114-0.48624612

7.6671470819-1.3794815748

4.5676252517-2.3991191148

4.5676252517-2.806212389

0.6525087947-2.6226133242

0.3262940136-1.9319155205

1.141946784-1.4432422555

0.6525209035-0.768522692

-2.120758005-0.0351028432

0.32622304491.0019329999

-3.26264660591.7164206739

-3.26264660591.7903685117

-2.12075888643.2444439259

-2.77331978693.5669795688

-3.26275889513.5470947087

3.42565395493.1887182139

10.6034977653.9725397174

7.01463546964.693901198

-0.32635449446.1721790829

-2.93650824926.8982906157

-2.12088372816.7359121122

0.32609417877.4890407081

-2.12085925838.465793621

1.14174614018.3178462785

-2.12088430698.3635564096

-1.63148872857.8123109982

-3.09963875929.4774721415

-2.77337524298.9770506164

-3.09966779569.5200832596

-3.75219463269.9450211827

-2.447170639710.5982045535

-2.120953978312.1660447013

-4.404765759112.5539148838

-4.567851228714.1361978193

-5.22041626212.8365289347

-3.099723075911.8556409887

-6.199272233912.4167088839

-4.567983777311.1569672441

-4.7310770939.5899874769

-6.68866292097.9644391926

-7.01497266678.68110714

-6.19930800697.4167111395

-7.50435703468.0294160599

-7.66751934885.9542790068

-4.40485881254.5145722636

-7.99378719815.0189595894

-10.27765741854.7843472336

-14.35598650055.0571008895

-13.54031291595.0474356362

-13.54031291594.55980544

-18.43427704374.9551460644

-18.43427704376.280624604

-16.80296258452.5488993129

-19.2499538492.777993554

-21.53380740430.9831814525

-17.9449206873-3.3068870451

-16.9661677013-1.5840091585

-16.6399277742-1.610384644

-21.6969665558-3.2243678943

-18.4343140612-1.2116282978

-18.4343140612-1.8624460906

-18.43431406120.4187613501

-18.43431406120.5298245001

-18.5974454331-2.8220409084

-18.5974454331-3.7987765752

-18.4343147138-0.965073338

-18.4343147138-1.4665862066

-18.5974460843-0.3767081166

-19.73936111070.3671790038

-19.9025309895-0.113278682

-22.51266721220.9016702933

-21.53384722442.3833104199

-20.88132269792.5985201384

-20.88132269792.8430124118

-20.39189456011.7045402644

-21.37067621651.6909118561

-23.65454355511.7144024567

-18.43434662532.0480256968

-12.7247508891.3863462981

-14.35609984541.3093940613

-16.80303171670.294071314

-20.7181978472-1.8372779955

-18.4343269725-4.4368231996

-17.9449329344-4.0167274744

-15.3348433061-4.1399699963

-14.1929643378-1.5973785605

-12.0722434514-1.9597954153

-11.2566255816-2.8818635394

-16.4768658384-2.4029740085

-15.3349375482-2.6258856159

-20.5551313037-1.3605089994

-16.803109045-1.0425939199

-18.4344336828-1.4318923555

-14.5192864996-1.6322813183

-17.6188171711-1.1747730587

-17.1293905639-1.3137213278

-18.4344369213-1.6147144777

-23.8177640845-2.0117974901

-21.0445021505-0.7057127389

-20.39201391630.3797724095

-24.47033104330.4620838229

-23.65468614830.3473561231

-23.32838627690.9704128573

-23.32838627691.0197873892

-23.32838627692.2643511698

-22.02335873972.8268051013

-22.67586727372.6377066067

-26.5910200861-0.6480342949

-26.59102008610.6389710688

-26.59102008610.1217873965

-29.85360878940.034881685

-27.0803712129-0.3380483539

-26.7541287937-1.5820288343

-26.7541287937-1.0452572196

-25.93846277190.5919489997

-27.40665868590.9683640729

-27.2435414481.5744771624

-28.22233408493.0911872554

-27.89610459332.8460364121

-27.89610459332.1385585276

-28.54864484672.0901448509

-29.85370384862.2105091317

-30.01686413352.2222633402

-32.30069378931.1815384771

-34.74768521231.7792178249

-33.44263891660.7712982308

-34.74769565272.0269086068

-33.93204184835.1023057129

-33.1163668375.0929516077

-34.74765864985.0303162085

-34.91078950325.2153796257

-32.62693928535.1498304442

-32.79004946535.5408826636

-35.56326644435.3963971952

-34.74762627096.0763093535

-35.72641187685.1425196023

-35.56328551025.1108717039

-35.56328551026.3005165498

-33.93200564626.2383307477

-29.36432878854.9875868798

-24.47040694436.8545811372

-19.25025464996.9986211126

-13.7037968916.6612544603

-7.66798155697.9473758665

-13.21445823688.0703279276

-7.17861059279.209064973

-2.93723002528.0440226679

1.30412183447.1655167196

1.14102219836.8330892867

-4.40545031817.4980184344

-8.9731490917.5115631848

-10.27820105248.3844495663

-11.09386192677.8113125969

-12.39891512758.1311887614

-10.27818046388.2212620417

-7.34185447586.8233679999

-7.01560514547.222246456

-8.64692336887.1103064307

-11.25697212128.0892946315

-10.27822526679.3645321295

-13.37766397498.7357954343

-17.78214989479.7163748375

-18.1083903249.6200438604

-15.98772519989.2044742741

-15.17205002379.5567679082

-12.72510297878.97436413

-13.540774166310.0124539227

-15.824594616710.5134506378

-15.172066874210.8285244856

-12.725120315210.8599997865

-13.703908090910.8895994065

-12.888237430211.6257954569

-11.09382223312.2225469595

-10.278196958112.771090769

-4.079227864213.4226821315

2.609135735314.5037137149

9.786849998313.6911953623

17.127747723414.1378880689

20.716659041415.5662096002

18.269732362616.2664252642

18.269732362616.7770674039

26.426322724716.2103482958

35.235329613217.4843623442

44.696934214317.3803886835

44.696934214316.6134252239

41.434307741616.2442271196

41.434307741613.8992323259

43.554973751913.7731458757

41.923615030214.2329031582

51.711519064415.1248336661

62.314940554816.435069398

72.918488676416.0419846037

84.337679831716.7974179235

84.337679831716.3788159777

90.047170789116.8602751394

103.097710007216.7737985358

116.963799962518.0073969435

128.383038682118.0927162915

143.064870706818.0889373246

159.377926439419.4754195377

177.322210146420.9578705433

177.322210146420.9044071645

158.562194596621.1672533457

140.617719729419.6562976965

156.930879273918.1465941885

174.875188813318.9605060758

161.009109913617.563314932

167.534337661416.3420672165

180.584662652518.5282510015

174.059385737918.8609598021

174.059385737918.9919445798

162.640153312419.6317642658

156.114858703320.5663276082

149.589564333319.7248952079

166.718147364819.7614113009

184.662410883219.9124304405

196.897201302921.1826628162

186.293814655621.0029489272

201.791185136719.4385018006

192.003493420418.3766935196

192.003493420418.1952220484

183.846959838717.5802523081

190.372317598417.6092946304

192.003629278718.7621009364

197.713176241918.8550916614

194.450537543520.2695861073

192.003653576519.8772667174

183.031549316719.7575093279

192.003649430120.021814151

190.372225040718.7517433137

209.94795896418.1481282024

231.154908264319.2570665337

236.048715498720.6429529039

235.233125266120.6698562824

258.071552391117.2599674836

252.362101488317.139306977

260.518579413516.5190543466

253.993193126112.1578626614

252.361992492213.7842638279

276.831418698814.239742236

270.306205852715.6596279922

265.412239036115.5729989309

263.78103880116.5037082913

257.255898308117.3413699539

257.255898308115.6046003372

238.49603383217.5239835166

262.150136676217.8880728175

256.440477621418.1578007281

254.809049555318.1385410066

258.071518765918.4566880976

272.753167178419.474349505

275.200291720920.0187941157

273.568920852520.301318357

271.937545375219.8026693925

297.222603584818.9318237886

314.35123947419.8509289229

311.904081053720.4018836431

307.825818747220.4107933825

315.982335122121.1425297739

323.3231753922.237415958

312.719776492923.0307367876

324.138907268922.9059836205

320.876430794123.4566024271

306.194577382323.3153680739

333.926699763922.2020769309

328.217092248522.8559802446

320.87616663622.8319004725

314.350902548521.5453591469

320.876100561822.2176265284

327.40136362520.4663701578

325.7699726221.2915647934

324.954197352522.3267882989

324.954197352522.8543837369

324.954197352521.9326072957

324.954197352522.1675714299

324.138710247721.3946172055

342.083170800920.2645547139

329.032875598920.6863225073

315.166962092421.0470539253

312.719968017823.1757874156

312.719968017823.9272828947

307.825934637123.6306009794

306.194630898522.9717735068

309.457186173923.6461507127

320.876128181922.6486972149

332.295339291722.6337340738

332.295339291721.7857218027

320.876257904321.9925139583

301.300461396722.7467936721

280.093337213722.6884889451

306.194346680224.3293247963

291.512452019425.047699635

291.512452019425.5541428185

284.987113981625.4720304091

283.355923579724.6101630322

275.199259593724.5620635093

263.780070127924.9387391893

268.674003411424.417244892

261.332966655524.3807906392

278.461594606825.9834371266

268.673820847126.668913008

265.411057532626.8093888325

262.964265091326.9725925159

258.885998608827.59234574

245.835468155426.7592953147

246.650948189327.3421345545

242.572599783827.8213230069

240.125603703627.4567765937

242.572467296629.0499863011

243.388132341230.9271474018

250.729083834433.710134847

275.198399826335.1778709972

280.092112555235.0923034049

283.354823249434.5809790365

288.24873092336.5093898851

288.24873092335.3878287378

291.51118500935.0591070896

276.829515571135.8013919422

283.354695462835.6544548361

277.645010628536.5139614619

262.147592327437.3800060334

276.829417867938.4914102823

260.516472368439.7099962013

258.885135330940.3136830949

255.622510565743.0858605318

280.091828650143.3132239642

276.013443328741.8810949171

271.119628363842.8501427954

271.119628363844.6351981798

274.382141016843.8109221854

278.460285678845.2221387648

304.56117774144.849789201

332.293037352844.6659748185

362.471846583446.3853299292

394.282047606946.9300297419

422.0142361748.8005959505

405.701291289748.7406293103

373.075466780846.0879889272

360.840789058939.916355747

392.651246205338.5464347079

407.332745993541.8248589924

408.963820771835.7872329202

394.282250397936.6834286575

376.337827579438.3211694997

376.337827579436.5483070702

381.2317224235.3354850068

374.706701495738.9569272501

375.522247608840.2265766944

375.522247608836.3891361965

360.024977559336.5060216863

342.080783259636.0788943444

312.717335554731.2234633153

284.169677454425.2422978574

310.270549510323.5460161752

327.399344952430.0408302455

317.611472553629.4830851246

318.427067759529.702688437

317.611553404533.3582290079

315.980362676932.7054404769

306.192760723433.1363350421

288.24838313333.2774595573

315.164867038831.9911987951

324.136994980433.9441405725

325.768225863137.1654971532

327.399343936437.1318916064

328.214821884636.2617897542

315.164546972836.1223939433

320.873889822837.6988273875

322.505197019837.7141119574

318.426754352936.4847380799

315.979794693537.4855806643

302.929260594637.7146316417

302.929260594636.3294978766

301.297800018437.9208721053

299.666524461335.9094341065

298.850805084936.3136287636

298.035155188537.1786750517

296.404007122539.0455396405

298.851009058541.36954679

294.772757490943.7545924139

291.51035542343.7285728327

292.325871493344.7145508423

291.510226006544.8974700346

291.510226006546.9551590066

291.510226006548.1283020409

293.141649118347.0183766737

320.058092125246.8637133414

307.823480133948.3894804594

312.717361895547.2084485844

315.979892641348.0916992759

315.979892641345.019240791

315.979892641345.3549603334

315.979892641346.485240505

322.504953237346.022347145

321.689096172647.1662862125

320.058002748646.7792388798

316.795412241242.9449248225

319.242418106545.109682764

319.242418106544.1969428595

317.611145857646.1156273811

317.611145857647.0814516781

320.057929561249.8052530818

349.421239011349.0118844614

340.448993395748.3007997488

335.555164630146.5730954317

340.449062459941.607931824

348.605738647642.1501485949

348.605738647641.9089197928

324.952103865942.0221631108

329.84585229436.4842929046

311.086089762436.9933793171

314.348880056832.4073889511

327.399212383133.2717443862

309.454856451236.5659553639

280.907254404535.9930611811

268.672513393133.8461387243

270.303889264832.5617511771

263.778764432132.5640047269

270.303864129729.5594415597

269.48808471729.7925189951

278.460363878227.3923957338

278.460363878230.2347748674

293.141976774127.9048747451

293.95774637626.3853648331

299.667375994228.9932004511

306.19274524231.1214592653

314.349095566531.0823850704

314.349095566532.1122993699

311.08651078832.5042765622

332.2932306232.7708751666

331.477493293833.197999072

342.081052691531.2991283972

333.924657269431.914527412

330.661977771429.662218771

324.136587484225.0367784408

307.823446056423.9698396104

296.404389566819.5835387453

302.929602223419.2252664632

302.929602223422.3850937003

306.192123212719.984020547

302.113954295621.2722889756

322.505152917924.2354560844

320.873860522524.7178623604

325.767781772724.5547313964

336.371102609926.9572676103

342.896159707328.2282368164

347.79016227229.8977684597

330.66174077527.0996406293

327.399047426824.9792373247

317.611181841725.5427687058

317.611181841720.3853462246

324.13635655821.600034368

322.505128130723.4653788952

320.87383583123.0410283879

317.611221855622.6140760194

304.560871172624.8146308418

304.560871172628.7152128702

306.192060605224.9082030191

304.560793289823.7184523854

298.035632254824.986195367

291.510634135323.8493209339

278.460410167615.7826431135

280.907535179813.13226263

288.248385197814.7914603937

283.354514302318.1898615787

283.354514302314.3141796378

283.354514302315.6981814107

280.091784031115.1954728125

284.170168873814.8539182356

275.197874579717.1882092698

249.097234434615.3451903026

234.415601143215.3032046533

211.577356494320.1093881329

190.370466879320.2787423702

170.794851484120.5006566498

161.006971577222.5394072597

162.638265149620.5551266379

180.582499339423.4788295692

200.157898570823.8266694321

206.683031127926.538721146

203.420537042726.8649379691

211.577087919529.2228497062

217.286738055628.4697389381

211.577163204326.1807935994

209.130347741729.3455340837

229.521512869829.5568846864

222.996327871932.2245904989

221.364873419830.2812856924

221.364873419826.738286128

239.309245221827.9940090669

234.41538797828.814066683

232.784109715425.3886430218

226.258878892124.6311702293

219.733701314322.2499670909

219.733701314323.0496041256

219.733701314324.9054382551

222.996264002527.3223584853

227.890303394730.1836738475

232.784066172835.3812570259

231.968412426734.308360564

231.152766037333.8949594302

229.521507511831.420045

252.359654632931.6877476317

242.571808146630.9106582329

247.465788997728.5762593753

241.756231152931.4104658607

241.756231152931.2732733344

259.700483825833.3111596296

254.806758743432.4417042465

255.622459481732.3666098002

250.728738816834.8323350076

247.466260088336.0567474418

255.622683077735.7986477919

255.622683077736.2888809104

247.466121218638.4460613175

258.885247826338.8184812224

258.885247826338.5727725106

257.254114374938.7099595554

255.622892088738.0064226406

253.991649882737.5672862037

251.544859598737.2899505547

254.807547440636.6409809585

256.438952543838.653156044

248.282559992735.7844222455

224.628601648236.2147230796

202.60612194136.8821752227

202.60612194134.9495357907

202.60612194135.2595148744

182.21500841436.3127807168

182.21500841435.4008482138

162.639446570434.2672723125

162.639446570434.8423390398

144.695131662437.2777265252

144.695131662437.7189371383

127.56647244639.8378807051

127.56647244640.452188515

112.069195672441.9454761833

112.069195672438.4895296747

97.387433186837.6753497297

97.387433186837.5602531373

84.336965654334.9138689875

84.336965654332.9759661734

72.102152569934.0534704273

72.102152569932.3330281878

60.193716224932.6260135122

60.193716224931.6205757038

49.100942151233.2300321035

49.100942151231.0150828198

38.823712410631.7537458567

3960433.443619401

38.8237124106

38.823712410638.9992776076

29.199064429238.900866119

29.199064429233.7005565924

20.22696459937.652210243

20.22696459937.7467773115

11.907378875738.6756038309

11.907378875740.0716511347

4.077107668440.0629666923

4.077107668435.3197343253

-3.100674139131.4506724814

-3.100674139131.9647760615

-9.789053207331.6772248145

-15.987988627132.0241943018

-15.987988627131.7580335261

-15.987988627136.9159652646

-15.987988627136.9810003481

-15.987988627140.1760821812

-21.827411501641.0398471996

-21.827411501642.9069326968

-27.290111985935.3272918935

-32.376023232734.3412972448

-32.376023232733.2907483003

-32.376023232732.8840782273

-37.085221726835.2249641493

-41.417659188334.9000185605

-41.417659188328.9120765366

-45.373373169229.8945154719

-49.140753115230.264455052

-49.140753115230.2841249847

-49.140753115226.5800170272

-52.531386527326.7398875887

-52.531386527327.0981812509

-55.733619192230.4645036796

-55.733619192230.976446392

-58.747495729530.1791927628

-58.747495729533.4013881421

-64.21015234534.0977433882

-66.658929511435.0379026671

-66.658929511436.525210127

-66.658929511433.2573426974

-66.658929511437.0189309671

-64.586882003736.9819358557

-64.586882003734.0139482516

-62.138100307434.2105467136

-62.138100307435.1204942204

-59.68930622132.3776833082

-59.68930622133.596219883

-59.68930622132.1760920657

-62.326472118734.0724224585

-62.326472118734.8129044478

-59.68932516735.9642066518

-62.326489825332.0462620729

-59.877711663932.3300294901

-58.935881067535.4949668054

-56.110382236138.3525556553

-53.473230663138.84273876

-55.356913446538.0852127773

-53.096500045139.361534399

-53.096500045142.0151173755

-56.298742697541.8566285045

-59.312643608646.1153063489

-57.617323529848.3210630135

-57.617323529850.4116483967

-59.87771881450.5951506077

-59.87771881450.2487817613

-62.326502001748.0317107377

-62.326502001752.8816736766

-61.007929571756.402232858

-58.935890949259.5110400405

-58.559168812760.7097655064

-61.196297546260.8333513161

-60.066100908555.3243265335

-60.442837312555.4672249139

-60.819579729958.5585352141

-58.182424002463.3122786583

-55.356894027464.9785538375

-55.356894027465.7719357029

-55.356894027466.3874469001

-55.356894027462.4106205318

-55.356894027469.100963634

-55.356894027472.5069952435

-55.356894027474.7649393042

-55.356894027475.8103831711

-55.356894027475.2885779539

-55.356894027478.9279194094

-55.356894027471.7140824825

-55.356894027472.4981289831

-55.356894027475.4742392025

-52.299957345975.6144431196

-48.990623786775.2900832432

-49.218839735975.4550312115

-49.218839735970.2124348789

-45.681271768466.9806113779

-45.681271768467.4975833507

-41.915462977578.7906054154

-41.915462977588.8699257956

-41.801326862390.3480218349

-45.795327203795.9200794781

-46.137683917196.1042443528

-45.795335036196.4325228579

-42.029520142498.3310431913

-45.224737051291.9180089097

-46.365870104293.4871305505

-46.365870104289.8780151044

-42.714190370293.6051306629

-42.714190370296.2521000093

-38.72016643798.5727810919

-42.9424082493100.0056822802

-42.9424082493100.4588951563

-43.1706386163101.010157118

-43.1706386163100.925732852

-43.170638616399.393674139

-43.1706386163105.5794640918

-47.0505496061107.4788127605

-43.3988378102107.3290130577

-43.3988378102105.6600145026

-43.3988378102102.4652918373

-43.3988378102101.8996038119

-43.3988378102104.573965964

-43.398837810297.7499921814

-41.230673691491.3763121834

-41.230673691492.8047449775

-41.230673691495.9405213498

-41.230673691492.385964352

-41.230673691485.742492231

-43.056519121185.6007707094

-39.17661810884.8578108243

-39.17661810883.3247849991

-39.17661810885.9091144933

-47.27877916389.1928271826

-50.359912751284.904204176

-50.359912751290.352406552

-50.359912751292.6655689964

-46.93643449492.8430139855

-43.627072167690.6825936998

-43.627072167691.9062039036

-47.506995298696.2862711015

-47.506995298698.9284805968

-44.311746102598.8650224115

-44.311746102598.4028600994

-48.191658128100.3513745884

-45.224646197398.9467111012

-45.2246461973101.3346684745

-45.2246461973101.9815567643

-45.224646197394.8497899765

-45.224646197398.0895574345

-42.3717814452101.0490154226

-43.5129354291102.29310673

-43.5129354291104.4022146608

-43.2847276882107.023877466

-42.0294485661107.4559362983

-42.0294485661108.4100261493

-42.0294485661108.2774773727

-40.0894640624108.0506631998

-40.0894640624109.6961358951

-37.2365842516113.1032787111

-37.2365842516111.3430456289

-40.6600147636109.6567394679

-40.6600147636111.1664776488

-40.6600147636110.5399467096

-43.5129032338107.5313308711

-42.3717509049104.3201985885

-38.3777098449104.9290727803

-38.3777098449105.353275961

-40.6600146054106.1334130564

-40.6600146054105.8314276062

-40.6600146054109.8908350215

-42.9423491236110.9216089123

-42.9423491236106.8130668923

-42.9423491236102.5754671516

-42.9423491236102.5400164449

-40.6600430885100.8887076908

-40.660043088598.5487560236

-40.6600430885104.0221495809

-40.6600430885103.1617881762

-40.6600430885100.47070713

-40.660043088599.6215132146

-40.6600430885103.1751753928

-40.6600430885103.6552783323

-40.6600430885109.4374589947

-42.3717634856110.0347746277

-42.3717634856111.9704551107

-46.9363808434113.4169414964

-46.9363808434115.5489767419

-46.9363808434118.2161797801

-46.9363808434116.3283916089

-45.1105147719118.7558124911

-45.1105147719118.9067540017

-45.1105147719116.5143220872

-48.8763176849119.1789638492

-46.3657870175121.9829203337

-46.1375734412123.0886172599

-46.3657885426124.5581019818

-50.0174738297123.8392914973

-53.4409269946122.8418636144

-53.4409269946120.0888752313

-56.6361364978118.5214022619

-56.6361364978119.1479031222

-59.6031354025117.3394946256

-59.6031354025121.6767215804

-62.3419216316124.039352079

-64.9665767196125.1169813625

-67.3630030057121.136688015

-69.6453082055121.9153102935

-71.6993798446124.8412636597

-69.7594289341127.0076092351

-69.0747219241123.8644618776

-71.1288098191125.9125978393

-69.7594203977126.7455375876

-70.2158717062126.6475835153

-70.3299747017129.6057877754

-68.3900000976130.0429571953

-66.7923674825130.1832833992

-65.4229843404131.2639939148

-65.8794355241131.329672889

-63.8253434221129.7776821136

-61.3147860809126.9858832759

-58.6901103721128.2195515515

-55.8372080845128.7901004304

-55.4948581216128.4601851056

-52.8702118845124.7787776828

-52.8702118845119.460287024

-49.7891019864118.994592295

-47.6208949884118.8483039073

-47.6208949884118.4828272398

-47.6208949884122.7823507971

-51.2726090525121.3030759878

-51.2726090525122.6632046928

-54.5819785361124.8606678599

-54.5819785361126.5549929922

-57.6630916942128.7797630234

-60.4018662925128.8653266548

-63.0265097909128.7071807141

-60.630073023132.4977735272

-58.0053981012130.7233505197

-55.3807354825131.7221519041

-58.3477380959131.5219439648

-58.4618652935129.2243201929

-55.9513004318129.3490182231

-56.2936469249130.1668768221

-59.2606527034131.4125399594

-61.9994368041130.9008868336

-62.1135524954123.4942790866

-64.7382119192126.2182273601

-62.3417855394128.2177702718

-60.0594717938129.0646864172

-57.5489300123129.2749677994

-60.5159201959128.2677628658

-63.2546939074131.9892122038

-65.7652434556131.7825098158

-63.3688104975132.639177972

-60.9723614491129.0735172913

-59.2606092222132.5689500916

-58.8041650879133.2868904405

-58.4618276998132.9434921378

-58.1194700837131.2721225817

-58.9182993113130.9906644085

-57.7771318296131.3325305919

-57.0924457994132.3362824421

-56.9783117052134.3868824709

-59.9453454601135.7444512942

-59.0324197739137.5955167258

-59.0324197739137.8654252328

-56.1795194221140.3984541461

-53.2125223231140.2893132479

40177142.0330927941

40178144.2956181456

200866,1210

(%)

Sheet1

121710

171121

222914

141017

121710

191520