Probabilistic modeling in finance and biology - Limit theorems and applications

Texte intégral

(1)Probabilistic modeling in finance and biology - Limit theorems and applications Julien Guyon. To cite this version: Julien Guyon. Probabilistic modeling in finance and biology - Limit theorems and applications. Mathematics [math]. Ecole des Ponts ParisTech, 2006. English. �pastel-00001995�. HAL Id: pastel-00001995 https://pastel.archives-ouvertes.fr/pastel-00001995 Submitted on 7 Nov 2006. HAL is a multi-disciplinary open access archive for the deposit and dissemination of scientific research documents, whether they are published or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers.. L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés..

(2)

(3)

(4)

(5) !"! $# % &('*),+.-0/ %1+ 2436+75 '8&92:+ ;=<>)>?

(6) &9;1<12@+ %0+7A BC&9; )*A +D) 'FE1<G- A$A +D5 +7A H I JLKM

(7) O NQPRKS TUKS!MVWXKY

(8) Z[MVWX \KY ]^$_aàbdc e1-gf &9;. h0i m k j l

(9) no p>qrnWh9s t uOhwv pxv n

(10) l

(11) noyqzk kms { s pFs |}k k~q m k s v nWh9lWh89nWk8 kDj h8u.km k o l

(12) n

(13) nqzk o ~ k q pxt t l

(14) n|p>qrnWh9s o. $W

(15) M[MySr#YKYI JT #:N KW

(16) !KJ M 6¡dP£¢ H ¤ ¥§¦!¨©ª«¨¬W¦r®Öª°¯²´±¨ ³¨ µ [J 6¡C¶$¢·¸ ¹º »½¼¾S¿ ¥§À ¾ ªÁ¨¬¦ Â !ZKS !#4¡Ã¢Ä6 ÆÅ· »½¼¾S¿ ¥§À ¾ ªÁ¨¬¦ H "ÇP 6 ¡ È ¢ · ÉI¾´ÊÊ

(17) Ë ¦ª«¨´¬¦ Ä [[ £Ä6·¸ 6· ÉI¾´ÊÊ

(18) Ë ¦ª«¨´¬¦ Â !ZKS !#4Ä6·I¹ P »½¼¾S¿ ¥§À ¾ ªÁ¨¬¦.

(19)

(20)

(21) !"$#% &'(#)"+*,-!*#%)./&/01234'()56'(7989:.;8<);0>=2#?*A!@ BC.;)"EDF7<.G7<89H( *I,J./)")8LKM@ N!" '(ON./89B./+P8<Q'R#I DS7<'(890UT89!ON)" *,9V )"N#W"B)89 !)DYXZ.;8< [@ )./H(X\Z8<7S]

(22) ./#^Z./&!"G&!'/#)89)!0M_>72#%`XZ.;).;'(89!DF'(a./))"89K/b./#aP'(#^Z Bc!)"[@ KM@ )./ !D2dB#89./ e*C./ e)!@ "!)"K/!0gfb./89+'(WI,-hQ./)")8LK(NBC./ ./%e7i,J./89*j 79\"'(#%8<!k*Z"'(l).Vm9!#%)5no*%8<)&!#)p*\R! "/Dq*%Zr&'q!@ s#89B8<)5nt&!'(797u H(#!Dv*Z. ]

(23) .;X\897<7<;D*w!2./X$8<0Cxy#,-8<7X ,z"2./H()E@ ./P%7<g*w7<Y)X\)&!89!)Y89&!8u0 feP89*'(\*,z!./#a]{).|Vm<&: '( }[@ ê@ 7<!\8<*U@ !\*bX$'(a*%8<)&!#)\*eR! "/0S~y89Bc';n %8<P79/DS)./B8<*%/DS'(#^K(!)53. 7<.l*8<"&!#"8<'/D/E./nC)./>&! '(89+~y!7<X\./.@ ^N@ *A!@ &8<8L]r*./+7< *U@ K(7<'(B%BX\p*#k*!)"8<) &:./B89)6*$&![6! $p!5 .+ 7u,-'()"8<H(89r*$'(XrP)# .;X?@ 7<8<'/).;8<'(q*C./U7<!U./#%)!0o7X ,z.p./#%8c'/4!)5A*2B'/)")!D./#^\'( S[ . 7u,zMy^_=rD 79&!'/"#%X\*%B)';]{!"!#)6s#p,z./8A*'(" @ .EK(&7<B79#H()./*l*%!B7<./8<"8<)0xy#,.G &! 89)wA ./X$8< /'(#)"*C./89 "'(89@ H ./79!X$! )X\)&!8[g@ 8<&8u0 h7LK^89\fQ!@ 7[E@ ./)"*[pM%8<7<89BNF)'/"!)wX$]{'( w7u,-'(%!#)w*,9V )6)./B%B'()5#)w*6&![ ! "/0U>'(#%)\& ).EK;./8<7Y89H(). ED897<X?!@ )8L$X$!$)X\)&!89!X$! $7<6B7<#6K89]{6\# *%'(#P79g).;8<'(+*wP)"!#%K;./H(;0 ,-!5rU!)./)*v./Bch)s#8X ,z.&:C./7<#)#X\ r.;&!&!#%!8<797<8>./# MTf N'R#\ ,z./8 B%#a).K;./897<79!)*C./%7<ZX$!8<797<#)$&'(*8L89'(!0M=7u,!@ &!'/#%e*b"!'(#./8<797<!DF8<7,z.BC./ [@ ^+@ .EK;./)Z!?&!'(%!897<s#8AXe,-'( @ ^@ B)!@ &!89!#^0M^.GBC./)"8<&8<BC.;8<'(./#e"#)5hX$)o@ "'(#8LED '(#%&!'/X\X$w&!!797<g*,-#b./#%)"rU!)./)*DcF)#%XeDC"BA!@ &8./798<"wX\'(%*8./79!X$! Y)"!&!'/#b* .;BB7<89&E.;8<'(%S*!5:.;8<"8<s#eP%8<'(79'(H(8<;0 xy#,-8<7X ,-!"*%'(#^*% )"!X$!)"&!8<)Y289&!'(79gF7Rw./)'/#8u0%A8<K/!897<7.;y&!'/X\X$y#gX ! )"/D *%!B#89S7u,-#)g*Uo@ |.r 7<'/8< :./89'v# ,[@ :./89A"'(@ #%*8./ . 7u,zM&'(7<2B'/79h&:8<s#;D!797<,z. .;XZ./89U&'(X$B%^y@ "'(X\BAB'(#%)S*8<"&!#%!)S"&!89!&/DCBc'(#)SX$&'(8<797<!)D^X ,-'()89! )!0^M797< X ,z.Q. B79#89!#)")B)89!\^!@ X$'(89H(U @ #GH()./*b&!'(%C./&!j*%'( p,zB )[V )b*8<H(%/D .;# "'(#)"*,z#8c&!'/X\X$*C./U7<Y]{#%#%)!0 =W X$'($'(#)M*27u,z./"#))U89&!8'(\#7<X\A*X\'( B%)'/]{'(%*e)"!Bc!&[XZ./89Y./#"8v*wX\.]{)./&: .;4!&[89'(0 / '(#%C./89+./#"8)X\)&!89!)Bc'(#)67<!@ &:C./%H(!$&8<! 89Cs#\s# '(#$.EK('/\B%# .EK/'(8<)v>7<>&!'/#)./H/!X$! >s#I,z897<vXe,-'( B)'*89H(#U!@ R7./*pS./7979h(D!=)"#)'g'(C.;#^no28<H(.%D ~y8<_>./7.Eh(D ~g./X$8<rv./XrP)"'/D; w897<7<vq./H! !D(/E./(./&!'*D;(./&!s#FF)89!X$!D )895n '(Bpfe89&:!7iDc/'^ A'/C./#*ID)./q& '(8<Y_>./**U@ 8uDCF)"8<&p[¡S.;)"ED=2)8<7RR8<*%!)Dc w)!@ H('()5h >./#7iD/=)"8./%YA8<¢/D/T2./79Bv.EK8<'(79/D =#)!@ 798<!=279]{'(%8uD/^89X\'(%Y^&'/8uD/>!@ ) '/V X\YR7<'(H [7<!.;#%)"!!0 F%Cj" 8<G.N )"!X$!)"&!8<)6X\$)"!"B'(%./P79!\./# '()B$*Z'( $ C./#"!@ s#8MX ,z'/ Bc!)"X\89g*6X\!) &! ).EK;./#^N*$)&:!)"&:*C.;p*I,z£%&!797<! ! &!'(*%8989'( X$'()./7<SX\.;^@ )8<7<79!!0 fb.b]

(24) .;X\897<7<,J.;BB7<79/#798<!IDB./X$'(8uDv7u,z./#%);D¤y.K89!)!D^8<X$'(%/D>fb./)"8</Dq/E.;/D /'/C.;./D%¥U./IDCC./ID2' ./X DCT'(P89'(ID./P89!D/!./^noS./B%8<"/D w./P)"8<7<7<;D%R#&8<79/D 8.

(25) =2#*;D @ 89!;DIC)./q&! '/8<!0L0L0If !y.;X\89,J.;BB7<79! 2¥K(!DR^'/B8<;D=7<./*./)!D 7./#%*/D FX$XZ.^D=2£nR'(#89/D%fb./)"8<;D¤y.K89!)!Dfb./#*ID%T./7<B%D'(8<¢8<&/D_Y89C.%DF8<!)")[;D~g./%8<!797<;D >./'(79'090L0o79X\+*'(%! $*!$*89!DM*\&'("!8<79!D*% 7<.j&!'(%%#)"/DF* 7u,z./X$'(#)!D* )./*'/U!@ b.;7<B89!DA*N7u,o!@ %!)H/8</DU*!#%h ./#OX#"8<s#/DY*%!+)89)!DS* )"!&!D*%# B%7./898<)D%*"#A!@ !Dc*p7i,zBc'(8<)DC*!&!'/#)* * no89HD* &!'/#%#)"r'(# *S./)*%8<C./H//DC* 7. &'(%.;&!;D*!U]{)./XPc'(89!D^*%!A'(XZ. !D^*%y7. &!8<Pc'(#79"Y*27.p]{'/)&!;D^[S'/#%r&! .r,z. B./*wB)8 ID%&!'(X$X\geX\./)"&:Aw@ 8<&'(X\B%7<!0. 898.

(26) > ,-!57<e'(#&82*I,z#%GX\'*U@ 7<8<.;89'(?XZ. U@ XZ.;8<s#l. 7<.N]{'(89\B%)!@ &8<"GZXZ./%8./P79 s#8q&!'(58L#79r*U@ '(X$8<C. !#%)&!'/X\X#%}. &!).K;./#j*r! "/0R'(#y%'(#g'/X\X$! bBC.;)"89&!#798<)Y8< ^@ )!"@ $.6 *!#ê&:C.;X\B*,z./BB798<&!.;89'(+*!B)'/PC./P897<89^!@ C79!XZ./)"&:U!@ C./&8<!)"7.pP8<'(79'(H(89/0^vgB%)!X$8<)S&:C./B%89)"g*U@ ./8<797<2'(YX$'/8LK/. 8<'/!0o7)!@ #%X\w'( B%)8<%&!8<B./#^)!@ "#79.;Dq79!&'(X\B./).;#^l).EK;./#^[^8<5:./ [6#H/HC! )"*!£^!"8<'(% Bc'("8<P%7<!0F=#3*!#%8u! X$+&:C./B8L);DF#8L ./#^?./)"8<&!79!* _>./7.Ehl[$_>#P./) '

(27) r A./7<7Lhp[M_q.;7.E h

(28) [D/%'(#FX$!#%)'(F7i,z))"!#)s#7i,z'(&'(X$X\[7<'/)s#Y7i,z'/6./BB)"'^&: 7<.7<'/8^*Y7<.'/7<#%8<'(*I,z#%!@ s#C.;8<'(*8L4@ )8<7<7<U"'^&:C.;"89s#YBC./)&!797<A*%Y'(6&:U!@ X\. *I,JF#79!)!0q^'(#%p hB'; *,-!797<89B%89&!89^/@ D7u,-#%897<8<.;89'(G&'( "'(89\*%\&:89s#%!B)"'(PC./P%8Ln 798<5!$./C./7Lh8<s#\%'(#Bc!)"X\[Z*,-'(P%!89)\#%`*U@ K/!79'(BBc!X$! 7<89X\8L^ @ !"# D *./*!2!B./&!y*w]{'(&8<'(%)!! )@ H(#798u! )"!* oh^Bc 'h ./#GH(./#"8<D*% # $"%'|h(./#G* )./%898<'(' &e*#"&:U!@ X\.G*,zF#7<)!D!l]{'(&[89'(l*#lB./*$!X$B*%*8<"&!)@ 89.;8<'(I0 )!@ "#79.;2)'(#^K(r#%r.;BB7<89&E.;8<'(+C. #)"!7<79g!GX\.;A!@ X\.;89s#!YCC.;&!8u! )!0co7v*'(p7. K8L!"*r&!'( K()H(&!6*gB)8 D*79./[gH ./X$XZ.;2*,-'(B%8<'(%!#%)'(BU@ !%!wB'/#)y# &7./"y£)!V X\X\ 7./)"H(2*%yBC.Eh('/4!0%o7I'(#%SB)X$S./#"8*y&'(5)#%8<);D./#Z&:C./B8L) ( DR*C./w7u,z./C.;79h6*,-#X\'*! 79b. K('(7<.;897<89^r@ 5'&:C./"8<s#$B)'/B'(6@ BC./) C'(#s#/Dv>./BC. n %8<&!'/7./'(#br^8<)"&E./)) [D#./7<H('/)89X$r*,@ K;./79#C.;89'(G[p*%&!'(#%K/!)5#)"\*w'(B%89'( #)'/BA!@ !w*C.;79!s#!7>7u,!@ s#897<8<P%)w! )"7u,-!)")!#%)".;89"8<s#/Dc*# .Z 7u,!@ &:C.;8<797<'(C.;H( $fe'( £n ./)"7<' &D|[q7i,z))#)*A*89&)@ 8<.;89'( !X$B'/)!797<M!5F./"#)A@ *UXZ.;8u )1./*C./B^:. n 89K//0^M^CD7<*!)"8<)U&:C.;B89)y. B'/#)1! X$7<K^89!897<7<89"!X$! M&!7<7<#%7./89)YA!5S7<Y]{)"#89 *I,z#% &'^'/BA!@ ).;89'(.EK(& *%!6P8<'/7<'(H(89"! *7.j./&#79^Z@ *efO@ *!&8<+!& /)N.j >./)89!0 R2*'/U!@ £%BU!@ )89X\ :./79! B)@ ! ! g'/#]{'/)X$ *I,z#b./)P%)wP8<./8<)"g* ./#^ * &)'(89./&!;DU. BC./)589)*#s#7'(g&'(7<7u! H(#%!P%8<'(79'(H(8<52"'(#C./8Ly*A@ !&!)w*#^j"'(#5n Bc'(B#%7.;8<'(0q'(#)£^B7<89s#%!)&!*'(U!@ !DF'(#B%)'(Bc'('/#?X$'^* 7<Z./#%'/)!@ H/)!"8L] .EK/!&NP89]{#%)&E. 8<'/DMHq!@ U@ )./798<./ &!7<#82B)'(Bc'(G@ BC./) '¡A./Q ./#*%j!*

(29) +%D1B#8< &'(5)#%8<'/yy8<X$B7[@ X\'(*gB)'&c@ *#)yBc!)X$":./ *,z"8<X$!)*%!yBC.;)./Xe )! [y*w"!)y* hB'; !gP%8<'(79'(H(8<s#!0C'(#)2&!p]

(30) .;8<);DC'(#28< )"'^*%#8<"'(7<w&!'(%&!!B^ *%, $"&:C.Vm9!*%+fb./) /'KlP8L]{#)&!./ - &D>B)'(#^K('(s#&"]

(31) ./X$8<797<*B%)'&!!"#65';n &:./"8<s#!. 8<5]

(32) ./89S*!YU!@ '()!! X$!7<89X\8L!1'()"8<H(89C./#^Zs#w'(#./BB%7<8<s#'/Y./# X\'* 7< [6&!'(^]{)'( '/6./#^l*'(U@ !D1&'(%C)"XZ.;7u,-8< #8L89'([7<&E./79&!#79B)@ 7<89X\89C./8<)"!w* P%8<'(79'(H(8<5!0. 898<8.

(33) 89K.

(34) pxv lWk.

(35). . i k o. . p7qrndk uOk o. >/ c (0 F "#^ 0 0p0 0p0 0 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 (0 fe'*A!@ 798<. 8<'/!+CC./%&!g0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 (0 fe'*A!@ 798<. 8<'/! P8<'/7<'(H(89 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ~e@ )'(#79!X$! *w7.r! " 0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( F))"!#)1]

(36) ./8<P%7<Y*#"&:U!@ X\.r*,zF#7<)UBc'(#)17<$@ s#.;89'(1*894!@ )"! 89!7<79!M"';n &:C.;"89s#! 0 0p0 0 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( 0 fe'/89K;.;89'( 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( 0 ./*)" X\.;A!@ X\.;89s# 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( 0 ( R "&:U!@ X\.6*,JF#79!) 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( 0 F))#)Y]{'()"w!)")#)]

(37) .;8<P79 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( 0 T@ #7L:.;&!'(# 0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( 0 T@ #7L:.;*w7.r! 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( 0 T@ #7L:.;YK('(898<% 0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (0 ( 0 + q^!"8<'(%2Bc'("8<P79! 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 =2C./79h" *I,z# X$'^* 7<\. K('/7.;8<7<8L^@ "'^&:C.;"89s#y0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 _YU@ '()! X\2798<X$89!1B'(#%)79!Y&:C.Vm<*%rfe./) ;'|K+P%89]{#)"&E./ 0 0w0p0 0p0 0 ( 0 ^0 fe'/89K;.;89'( 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ^0 v.6P%8<'(79'(H(8<0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ^0 ( R X$'*R! 79 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ^ 0 fe'*R! 79!YK('(8989 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ^ 0 T@ #7L:.;*w7.r! 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ^0 T@ #7L:.;YK('(898<% 0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ^ 0 q^!"8<'(%2Bc'("8<P79! 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0

(38) \ i[ v c p ) 0 o )"'^*%#&8<'( ./* )#7L 0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 (0 fe'/89K;.;89'( 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 (0 F)K89'(#)#7L0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 (0 ( F#)Bc'( ./%*eX$'^* 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 ( 0 = C)52"!)"8<!'/]>)#7L 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 K. . . +. .

(39) + (

(40) . + +. (. (.

(41) 0 (0 =BB%7<8<&!.;89'(Z'\'(B^8<'/B)89&!8<%H6./* !*H/8<H 0p0 0 0p0 0w0p0 0p0 0 (( 0 (0 ^'(X$y]{#&[8<'/C./7"BC./&!l0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( 0 fb./89 )"!"#79e0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 (0 + = B)7<8<X$8<./)"h$)#7L 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( + 0 (0 y)H ./%8<¢E. 8<'/'/]wBC./Bc!) 0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 q89)5Y"!B [^BC.;89'( ]{'/)

(42) 0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 0 yB).;'()./"'&!8<.;* ¡8L F#79!)&:X\ 0 0 0p0 0w0p0 0p0 0 0 0 t;'6V [^BC.;89'(0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 0 ( F)''/]q';]q_Y'()X ( 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( ^&!'(%*e5!B c£^BC./"8<'(+]{'()S% *%!"89oh+'/] 0p0 0p0 0 0p0 0w0p0 0p0 0 0 ( 0 ^BC./&w&!'( K('/7<#%8<'(0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 ( 0 F)''/]q';]q_Y'()X\

(43) 6./%* 0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 =2BB*8 0 0p0 0 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 0 g!)%!7R'/] 0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 0 yB).;'()Y'( 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 0 ( fe'(X$! Y]{'()S F#7<)"&:!X$p./*+89Y*!)"89K;.;8LK(0 0w0p0 0p0 0 $# %| i R C& % v )' ( !

(44) " ( 0 o )"'^*%#&8<'(Q0p0 0 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 (0 2'/.;89'( 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 (0 o !)"B)[@ :.;8<'( 0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ' ( 0 (0 ( ~,J.;#%)"!X\'* 7<!r. K/'(7.;8<7989^@ "'^&:./"8<s# 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( 0 = s#%'(8R!,z.;!*%)+ * 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 F)8 *,-# '(B%8<'(#)'/BA!@ 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 0 M~ga*,@ K;./7<#.;89'(d0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 0 o !)"B)[@ :.;8<'( B)"'(PC./P897<89" 0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( =2C./79h"p.;"hX\B^'/8<s# 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( 0 T['(#%)r.$ 7<.X\'h( 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( 0 R B%)8LA7.;& n^&:'(79!&!'/))89H>w@ 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( 0 ( ).;^@ H(8<Y*w&!'(#^K(!)5#)" 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 + ( 0 ./798<P).;89'( 0p0 0 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ++ ( 0 0 R B%)8L&!'()")89Hqg@ *w7u,-'(B%8<'(*,z./&:C. 0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ++ ( 0 0 ^#)5]

(45) ./&!w*gK('/7.;8<7<8L^2@ 8<X$B7<89&!89 0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 + ( 0 ^89X#7<.;89'(A#X!@ )"8<s#Y0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ' ( 0 ^0 ^&:U@ XZ.6*,zM#%7<!)d0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ' ( 0 ^0 =X?!@ 798<'().;89'(Z*# &:U!@ X\. 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ^0 ( fe8<"w! , #^K^)"y0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 + ( 0 ^ 0 T@ #7L:.; 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0

(46) ' ( 0 '(%&!7<#%8<'/k0 0p0 0 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( K8.

(47) ^k^ i

(48) l {^\

(49) # >. C c

(50)

(51) % c /| c #v {

(52) iE^k^ c(

(53) | ' 0 o )"'^*%#&8<'(Q0p0 0 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 ( 0 fe'/89K;.;89'( 0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 ( 0 _YwP8<'/7<'(H/h 0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 ( 0 ( _YwXZ. XZ.;8<&!./7IX$'^*%!70p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 A8L]{#)&!.;89H$fb./) /'K+&:C./89!0R89X\8LU!'()"!X$e0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 0 ~yC%8989'(p0p0w0 0p0 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 0 !. 7<.¡W'/]>7./)"H(g#XPc!)"p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 0 ( )"'(H67.E¡W'/]7<./)H/y#XPc!) 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 (( ! )./7v7<89X\8LU!'()"!X 0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 0 0 ( ~y[!&[89'(+'/]q&!797<#7<./)S./H/8<H 0p0 0 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( 0 R8<X$89A!'/)!X$8< A=yT X$'^*%!70p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 ( 0 ( 0 F"89XZ. 8<'/'/]qwBC./)./X\[) 0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 ( 0 ( ~y!&8<'(+'/]>&!7<79#7./)S./H(8<%H0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 0 ( 0 ~g.;:.#X$!)"8<&!./7v./C./7Lh8< 0p0 0p0 0w0p0 0 0p0 0p0 0 0p0 0w0p0 0p0 0 . K^898.

(54) K898<8.

(55) pxt nqÇuOk . s9qÇuOh0i |qrnWh9s. ,-!57<'(#&8I*,-#X\'*U!@ 798<.;89'(6XZ.;U!@ X\.;8<s#.r 7.w]{'(8<1B)!@ &!89y[SX\./8<./P7<s#8 &'(589#7<S*U!@ '(X$8<.;#)F&!'(X$X#b.g X$!).EK;./#^6*S! "/0^/X\A#8916BC./)"8<&#7<89!) 89 ^!@ )"!"\@ . *!#^Z&:C./X$BU*,J.;BB7<89&E.;8<'(6*AX\.;U!@ X\.;89s#%! 7<.wC./&yU7<A&8<&! *%#?K8LK/.;!0 !$*#^?*'(X\./89!k[@ #*%8<! 6*6"h"E! X$!\./7[!@ .;'(89)&!'(X$B79[^!*U@ &!)"89 B./)2*%!*%'(U@ !%'(XP)"!#"![P%)#8L^!@ !0co7<[^89H(! y.;#)"!797<!X$! # [^Bc!)58<"r F)"'(PC./P897<8L^!@ A!G:.;8<58<s#;0fe2)"!&:)&:y&!'( )8<P%#! .$ 7<.X\'*U@ 7<8<.;89'(*289^n !)./&8<'(M*C.;M*!79F"h"E! X$!S.;8<"8Cs#I,J./#$*U[@ K(!79'(BBc!X$! Ug. 7i,J.;C./79h"Y#%X?@ )8<s# *%!X?[@ '*s#w7i,z'(#^8<798<"yB'/#)Y&E./79&!#79!)S&!)5:./89!s#C./ 8L^@ 5no&7[@ Y'(#+B'(#%)S8<)"!)Y* 7i,z89%]{'()"XZ.;8<'(\B)"8<w*,z89X\Bc'()5:./ v"!#^ *w*'/U!@ !0 . +£c bd^.

(56)

(57)

(58) ! !#"$! !&% R!UB)'*#8LM'(B%8<'(%!791"'( S.;# "'(#)"*,z#8c#%8<7<89@ F*]

(59) .c&! '(\8< 8LK(B./)M7<!1! )[n B%)8<"!DI&!'/*#89./ w7< [@ :./P798<"!X$! CC./%&!8<)\. X\B%7<'h()*y!&:%8<s#p.EK;./&c!@ *I,J././79h1"'^&:./"8<s#A[q#X!@ )"8<s#;0 p@ ./P798<"!X$! v"'( *XZ./%*!#)"q*1&!'/./& .EK/!&y792X$'(*2*7<. )"!&:)&:;0 A8< ^@ )!V A).;*#89UBC./)1*S&!'(797./Pc'().;89'(F.EK(&y* #%89K/!)"89./8<)"!!DC7<.)E@ .;7<8<.;89'(* &!'( ).;2*w)"!&:)&:[79g)&!)#^!X$! !DI./# X$!8<797<#) %89K(!./#D *SX\.;U!@ X\.;89&!8<./BB798<s#U@ >*C.;7< @ s#%8<Bc!q*%S)&:!)"&:Yq*A@ K/!7<'/BBX\ *%!AP./s#!0 ,-!5S#%289!)5]

(60) ./&!*%hC./X$8<s#! )7<X\'/*2./&E./*U!@ X$8<s#U7<X$'(* @ &!'(%'(X\89s#/D&!'(X$X$2+.;!"y7<2H().;*'(XrP)2*,zX\B%7<'(891[Y*y5:./H/!AB%)'(Bc'(@ YBC./) 79!PC./%s#%!2./#^`[@ #*8<./ *7<8u ) $"8<H>!@ 89!#) &0 R! X\.;U@ XZ. 8<s#gCC./&8u )!Dv*'(X\./8<*I,J./B%B7<89&E.;8<'(j*pB%)'(PC.;P8<7989^@ y)!! p./&[n 89]*B#8<) ./*Uo@ |.% Dq]{'(#)"8<"67<.GPC./").;8<'(%!7<79ZBc!)"X\[:.;6*I,z"89X\) *%&!'(#%K)"8<)7<B)'*#8L*U!@ )8LKM!@ 6!DB7<#%Hq!@ U@ )./79!X$! ED>7<)8<"s#!CC.;&!89!)0 y)7< )"8<"s#%G!5 ./# "'(#)"*,-#%8'(X$8<B%)!@ "! EDU.lH(!589'(`!5#jB%)!@ '&!&#BC.;8<'(aXZ.|"#) %'(a"!#79!X$! Z*%!$PC./s#Z\*Z&!'/X\BC.;H(8<*,z./"#)./%&!/DUXZ.;8<6./#"8*Z! )[n.

(61) %B )8<"!B#P%7<8<s#B)8LKM!@ !DCs#8v*'(89K/! w&!'/#%K)8<)YB./)[^!X$B7<w&'( )w79!Y)89s#2* &:./H(;D^*K;./)8<.;89'(6*B)"8L$*X\.;8u! )UB%)!X$8u )U'(#\**U@ ]

(62) ./897<7.;&!Y*,-#B./)"!C./89) C./&8<!)0RF,z "!#kH(7<'/PC./7*! XZ. U@ XZ.;8<s#CC./%&!8u ) " *'(%&$*%*A@ K/!7<'/BB)w7<! !&:%8<s#!1s#C./ 8L:.;89K/!Fs#8CBc!)X$"1*Y798<X$89!)7u,-[^B'/898<'(6.;#^&:C.;H(!X$! Us#8 .;BBC./)./8<"! *C./%#%eX$'(*g*%pB79#Y! B79#8<5:./P79y*U@ )@ H(7<X\^/@ 0

(63)

(64) ! ! v.yP89'(".;89"89s#/D|*'(X\./89AB7<8<r"'()!D([F.;*'(#^S7i,z#*%!q]{#%#)q*A!@ Pc'(#&:U@ .;#)"!79*%U7i,z89H>!@ %8<!#%)!DE*U@ X\'/)Ms#17<MXZ. U@ XZ.;8<&8<!w.;BB7<89s#AF@ B#%q./BBc'()"!)vP!./#^n &'(#BQ./#P89'(7<'/H(8<5 '(#Q./#X?@ *!&8<0AFQ[4I[EDS7<.".;89"8<s#j7u,-8<%]{'()"XZ. 8<s# '/ *%!$'(#%897<89*8<"B.;P7<$Bc'(#))./8L!)7<.js#./ 89^+@ [^B'/! 89!797<!X$! $&!)"'(8<"./ e* *%'(U@ !+s#NB)X$! +7<+.EK/.;&c@ !&:'(79'(H(8<s#X\'*)!DY+&!&8y!5eB./)"8Ln &#7<8u! )"!X$! >K)./8^*%S7u,-8<H>!@ 89!)89FP8<'/7<'(H(89s#/D'R#p 7<!>B)'/H()! q)@ &!*S7<.!&:%8<s#Y'/ "'(#)"&!Y*Ss#"8<'(q'(#%K/!7<79![F*,-#Y"'(X\X$A89X\B%)!"89'(C./ A*S*%'(U@ !FBC./)"X\87<5n s#7<79!Y8<7]

(65) ./#%S.EK('(89)S89)!)A7u,-8<%]{'()"XZ. 8<'/$Bc!)589! ;0CR!Y£%X\B%7<!Y%gXZ./%s#%! BC./ !@ s#q&E ./H/r*# H>!@ '(V X\;D[^BU@ )89!&!*% B%#&!6. =y~g DC*w*%hC./X$8<s#g&!7<79#7.;8<);D^[&;0 =K(!&p/!./^nC)./q&! '/8<

(66) (D'(#.EK('/X\'( ^y@ #+B)'|"Y &'(7<7<./Pc'().;8<'(\.EK(& 7i,@ s#8<BcA*YP%8<'(79'(H(8<5s#Y*%8<)89H(U)./q& '(8< . 7<.y./&!#%79Û@ *SX?!@ *&!89Y2& /)g. >./)89!D ./#"!89r*#v./Pc'().;'(89)F*S G@ U@ 8<s#Sfe'(7[@ &!#7<./8<)"/D @ K('/7<#%89K(1FfO!@ *%8<&E.;7<

(67) #8L^ @ %MTf [0 [!@ s#89B*'/#%MB)X\89!)M8LK(E.;#\,z"1%12@ Bc'(#)MP#%1**U[@ !&[) [*ws#C./ 8LC!)7. K/.;)8.;P8<7989^@ BU@ '/ohB89s#%+. H>@ '/ohBcp[! K8<)'/!X$! &!'/"./ !0 ,-!5r#%s#!58<'/k"&!8< 89s#%$*%6'(#%B)X\8u! )89X\Bc'()5:./&!&!&!8Fs#,-!797<)[@ K8< #% *%!Y*'(H/X\Y*g7.rP%8<'(79'(H(8< %79]

(68) ./8LSs#w7<SH! %!79!#)S)!@ H(#%7.;8<'(\H('(#%K/!)%! *%8Ln )"!&[!X$! 7.]{'()"X\7<y&'(X$B'()5X\*I,z# '()"H ./89X$/D%&;,z"5n!. nt*8<)"gs#I,[@ :./ 2*'(U @ #%w&!'(*%8989'(+8<8L8<./7<# ! K8<)"'(X\"BA!@ &89Cs#;D7<.rK^89g *U!@ )"'(#79g&!'(X$X\gB%)';n H/)./X$X?@ /Dv*$]

(69) .&! '(!"! 89!797<!X$! r*A@ !)X$8<%8<"/0 y)A0 Sr'( !@ s#8<BcZ'/ @ 7./Pc'()2@ *S[^BU@ )89!&!Y'()"8<H(89C./7<Fs#8B%)'(#%K/! s#,-#H()'/#B*,-'()H(./8<"X\U#%8<&!7<79#^n 7<./8<)"!1H>!@ U@ 89s#!X$! S89*! 8<s#!D^&)'(89./ S! K^89)'(%!X$! S&'(5:./ ED^B#%K( *'(^n %!).6 K/'(8<)Y*%!&!'(X$B'/)"X\ Y&!'/X\B79[^![2#%pH/)./*% B./7<[g*% B%A!@ ';oh^Bc!28<*%8Ln K89*#!79!0. % b 5 X^$_ab! bdc#"%$ b _'& " (*b) +b ~g./%7<U*'(X\./8<U*!FX\.;A!@ X\.;89s#!CC./&8u )!D/X$'(././79hUU@ '()89s#%YF#X?[@ n )"8<s#*X\'* 7<!.g K('/7.;8<7<8LÛ@ "'&:C./589s#%2&'("89#6.g 7i,z'()"8<H(89S7<.w)!@ Bc'("6.w #&!'/X6n X\./*%y*#+~e!@ B./)"!X$! Y*fb./)&:U!@ Y* ./B%89:.;#^\*# )!@ *%89Yh/'(C./89Un1./#|"'(#)*I,z#8 .;79h('/+nUs#8RX ,J.6./&&!#8<7<798! "./H(w*,z./'R#%V ' .\ ./'R#^V 0 !X\'*! 79!Y*U@ &!)"89K( 7i,z89&!)"89#%*e"#)7.NK('(7<.;897<8L^@ *XZ./)"&:U!@ \CC./&8<)[&!'(%"8L# *'(&b#)-. ,n %!X$! 6*#&c@ 7u P)X$'^*! 7<$*+A7<./& (n5^&:%'(7<!0qo79[^B798<s#7<!rX$8<7<r*\K('(7<.;897<89^ @ .

(70) '/P)"KM!@ B).;8<s#;D>"X\897<! s#8A£^B)89X\!lBC.;)"89&!#798<)p79$]

(71) ./8Lrs#Z7<ZX$'*R! 79\* U7./& (n5&:'(7<2"'(#n/@ K;./79# 7.B)'/PC./P897<89^y@ *,-# K/.;)8. 8<'/P)#%./7<w*2&'(#)"!0v#)&E. n 798<P).;89'( B)X$y*%'(&*,-!589X\)CX\!DI[g!jBC.;)"89&!#798<)2*rBC./'(#no"89X\)!D 79!g'(B^8<'/y[^'/8<s#p*'/w79!gB)"8LDBC.;)gXZ./%s#%*7<89s#%8<*8L^/@ Dc6)@ #7LwB./w*,z#% @ s#8<798<P)"S! )"27i,z';4I)"S17.y*%!X\./*;02BC./)589Y*&!"+@ #*&!'(%"8L#./#|"'(#)*I,z#8 #%k&:C.;B89)$*! '/!w*#&'(#)" *%fb.;") $fe'^*! 7<w"'&:C./589s#%! !kC./& & s#% *%8<Bc!%p28<&'(7< Y. 7u,z28LK()8L^w@ F8<))" [2fb./)"8< #)"8<.6 q./)"8< +

(72) i0 N"./H(jW./7<79b* X\./)"&:A!@ +X ,J.lBc!)"X\89*j)!@ ./7<89)7u,-8<X$B'/)":.;&! s#N)Kc[V aB).;89s#+7u,-!"8<X\.;89'(l*\))"!#)"\) *!$X?@ %'^*6#%X?@ )8<s#\[$7<+X\'* 7< U!@ '/)8<s#wBc'(#)*2B)"'^&!"#./7[!@ .;'(89)!0 ,-!5y7<.)./89'( B'/#)Y7./s#7<79U" X$g#%8<!^n "#89y8< ^!@ )Z@ . 7u,z./C./7Lh^"*7u,-!))"!#)A*y*89&!)@ 8<. 8<'/ZX\Bc'()7<792Bc'(#)U7<!\!@ s#C.;8<'( *%894!@ ) 8<7<79!q5'&:C./58<s#!0feF)&:!)"&:!1#)q*!FB)"'(B)"8[@ ^!@ C%!F*#"&:A!@ X\.g*,JF#^n 79!)DIy7<!#%)g./BB798<&!.;89'(?. 7i,z"8<X\.;89'(e*%!g*79:.;ywH .;X\X\./*,z'/B%89'(y#)'(BU!@ !%!D '/SB)89A7. ]{'()X$*,-#+./)589&!7<

(73) B./)#*C.;

(74)

(75)

(76) "

(77) "

(78) !" # [0 xy#C./ .2 X$'(./&[8LK^8L^M@ !rP8<'(5:.;8<58<s#;DB7<#%>)!@ &! /D;!797<1!,-!"q*U@ K/!79'(BBU@ /D/&'(X$X\ B%)!@ &8<@ *C./g7<.Z&89'(jB)!@ &c@ *! /DR*C./%g7<&!./*)r*,z#%&!''(BU@ ).;8<'(j.EK/!&6*!gP%8<'(79';n H/8<"!w*67.+./&#79^@ *\fQ!@ *&!89Z!& ;!) .+ >./)89!DRp.Bc'(#)g X\679K^89!897<7<89"!X$! &!797<#7<./8<)"/0|R!F*'/U!@ F[^BU@ )8<X$! ./7<YB)!@ "! 1"'(#]{'()"X\U*,z#%6./)P)"SP89C./8<)"A* ./#^r*S&)'(89.;&!;D. BC./)589)q*#s#7'(q&!'(797u! H/#!>P8<'(79'(H(89">"'(#C.;89 F*U@ !&[!)F*%!#^ "'(#noBc'(B#7<.;89'(!D&'())"!Bc'(*./ .Z *!#GBU!@ '/ohBc!w*89&8<&[0fe'/G).EK;./897&'(X$X\ X\.;A!@ X\.;89&!89!p./BB798<s#UU@ .2&!'/89"^ @ .2 B)"'(B'/!)>#X$'^* 7<MBc!)"8< Bc'(#)q&!*%'(U@ !!D B%#8<.e &'(")#89)\p8<X$B7[@ X\!)w*rB)"'^&c!@ *#)"!)"8<H('/#)#rBc!)X$":./ p*,-!"8<X$!) *%!B./)./X )[*% !"!)2*!2hBc'/! yP89'(7<'(H/8<s#!0C>'/#)2& ]

(79) .;8<);D;,J.;8R8< )"'^*#%89 79w&!'(&!B%* $"&:C.|Vm9!*fe./) ;'|K P8L]{#)&!./ - &DB)"'(#%KMp@ s#p&![ ]

(80) ./X$8<7<79* B)"'^&!5n "#A5'&:C./58<s#S. 8<5]

(81) ./89M*%!UU!@ '/)!! X$!U7<89X\8L!F'/)8<H/8<C./#s#M,z./8c./BB%7<8<s#U@ U#%89 .k #X\'* 7<G.;#%'()"!H()"!"89] .EK/!&jP8L]{#)&!.;89'(DM%CO&!'/%]{)'( ^j@ ./#â*'(U!@ !0Y2'/ "!#79!X$! X\)!@ "#79.;&'(%C)"X\27u,-8< #898<'(\27<!Y&!./7<&#7<YB%)!@ 798<X$8<C.;8<)A*2P%8<'(79';n H/8<"!DCXZ./89Y8<79S&!'(%"8L# y./#%8v#%p"'(7<89*gPC./" ).;89'(7<79yB'/#)X\!)*wX\./8u ) 5h"^@ XZ. 8<s#679!b@ #* *%$*^h^./X\89s#&!7<7<#%7./89)/D*6B79#g!NB79#g'(XrP)#!02 [@ #*%7<8<X$8<./8<)"/DX$!U@ &!'(797<&8LK(X\./# 1fbT= D.W[@ ^@ B%#P7<8[!@ *./! " #$&% '

(82) " " )( iD#./)589&!7<;DIB)!@ B#%P7<8[ @ ' uD.`[@ ^@ "'(#X$8<y[w#./#%)"/D *%!"8<U@ .6 7.&'(X\Xr#C./#%^g@ *!P89'(7<'(H/8<"!D^"2! &!'(#)"*w)!@ *./&8<'(0 '(#B%)!@ "! '/yX\./8< C./ 2B7<#!b*A@ ./8<7R79!)'/8<BC./)"8<2* 7.6 ;DG'(# [4I'/);&E .;*7<)B7.;&!!)p*C./r7<!#%)r&!'/[;DF!)!@ #%XZ./ 79!p)!@ "#79.;rB)89&!89BC./#^D [Z}*U!@ H ./H/E./ \s#%!7<s#ZB89"!6* )!&:%!)&:%b]{#%#%)/01'(#6 #8LK('($BC./$7u,-'()"*) &:%)'('/7<'(H(89s#/Dg&'(X\X$!>&! '(&!")"K#**U[@ :./897>B./)y7u,z./C.;79h*%7u,-!)")!#%)]

(83) ./8<P%7< *%#e"&:A!@ X\.$*I,JF#79!)B'/#)Y7<@ s#C.;89'(*8L4@ )! 8<!797<S"'^&:C.;"89s#!0. (.

(84) +

(85) bd^ & `$_ab $$^ + ( b5 ! & $:3 +£^$_ab X^ }_ab+ b 5 ^ &

(86) "

(87) `'Xc + $$` b

(88) bdc#"àbd__ab + +" ( &+"

(89) ` ^ b+ 5

(90)

(91) ! R!X$'^*! 7<SCC./%&!8<)Y79!YB79#Y#%897<89!@ A*C./7<YPC./s#2£^B)89X\79gB)8 *I,z#% '/B%89'(&!'(X$X$7.bK;./7<#)X$'|h/!%e89&!'(%#% *,-#+s#C./ 8L^ @ -rs#8 *U!@ Bc!*l*%#X\B wp*#l././)" * 0 )B)@ 7.K;./7<#).e 7u,-8<%":.; w*$7u,z./&[89] "'(#n9./&! I.;&89'(Dc8<*%8<&!pP'/#)"8<!)D[&;0RB)"'^&!"# "g"'(#%K/! X$'*A!@ 798<w@ BC.;)#%r*8L4I#%8<'/DC&/,-!5"n!.| no*89) 7.6'(79#%89'(+*,z#%k!@ s#C. 8<'/e*8L4@ )8<7<7<w5';n &:./"8<s#

(92) M~w [0Co7R,-!5g./79'()YB./2Bc'("8<P%7<w*w&E./79&!#79!)[%./&[X\ 7i,z'( .\C.;#%)!797<X\2)&!'(#%)\.Z 7<.\"8<X#7<.;89'(+#X?@ )89s#% {K/'(8<)6.Z &!p# "[g7u,-[^X\B79 )./8L^ @ .;#&:C./B%89)" ( [0v_'(#% *,z./P'/)*#%\*%8<&)[@ 8<.;89'(jX\Bc'()7<79*\7<.*%hC./X$8<s#$* Bc!)"X\[r*%\H>@ U!@ )"!) #$K/.;)8.;P7<6./7[E@ .;'(8<)" *'( r7<. 79'(8F!5rB%)'&:\*%Z&!7<79$*% 0 y.;BB7<89s#6!"#897.+X?[@ '*$*f '( [n ./)79' 7.+X\'h/!./)8LX?@ 8<s#6* &'(B89!8<%*A!@ Bc!*./ !6*+7<.eK;./)8<./P7< p&!'( K/!)H/ K/!) u0 ]

(93) ./8<./ EDq'/ &'(X$X\[A*#^\!)")!#%) #!))"!#)U**%8<&)[@ 8<.;89'(6!X$Bc'()7<7<;D "! uD *%89 " "$#) &% # "[D6#%+!))"!#)5:.;8<58<s#*%#l.N 7i,@ &:C./ 897<79'(C./H( $fe'/[n ./)79' &0 [ *%!)%8u! )"/DFP89!?&!'/#/DM*+7u,-'()"*)*% ('*) DF!"$s#C./ 89A@ B./)7<_YU@ '()! X\ ).;7R8<X$89/0cfe).K;./#IDc*U[@ :./897<7[@ .;#G&:C./B8L)" D&!'/&!)w7i,z))"!#)]

(94) ./8<P79ws#% 7i,z'/j&!'(X$X\[y79'()"s#%7u,-'(j./BB%)'&: 2B./)y'/"&:U!@ X\.*,zM#%7<!)0 &:U!@ X\. "Z.\ 7.\]{'(89279rB79#y"8<X$B7<.Z 8<X$B7[!@ X$! )2[y7<pB7<#%&!'/#)./X$X$! y#%8<798<;@ 0o7q&!'/89" . $"H(!79!) &p79!A&'^ ,$&!8< S*27u,!@ s#C.;8<'(\*894!@ )"! 89!797<"'^&:C.;"89s#y! )*%!#^Z*C.;!S* *%8<&)[@ 8<.;89'(0%M)!@ &8<'/2&!7<.%0 .

(95) + , .- 0/ 1 - 3254& q8 ^'(*!#ê8<)76 98 p2#bBC./&rB)"'(PC./P%8<7<89 @ &: 9;<>= "#)79!s#7vK8L2#% X$'(#%K/!X$! 2P)'¡89! 8 no*89X\89'(7@?AB? C [0 yb'/ ; ED &?GF IHEJKH F7.yC7L).;89'(6!H(*)!@ B./)M&!P%)'¡8<D&!'(X$B7[@ ^@ *!U!"!XP79!1U!@ H/7<8<H/E./P79!0 y "M*'(F#%]{'(&[8<'/ LM BLON POPPO L Q v#%]{'(&8<'( D< RD0S NT*SUT NT T*V Q W V 0>'/#)Y#X#7L898<*89&!7 XZY\[ 1D ]^XC]_ XNa`cb(b(bO`ZX )!B%)!@ "! w.679'(H(#%!#) [7 dfe$!57u,-'(BU!@ ).;#)Y*8L4@ )! 8<!g7 d@h eihj'_dlk enN m b(b(bod0k e p )0 yeXr#89 *g.6'()"X\g#&!798Ln *%8<!%r qsbBq2'(+*U!@ "8<H(% B./) *'/7<! *U@ )89KF@ !*$'(# tvuxy3w z|{ g7u,-!"!XP79Z*r]{'(&[89'( uxw + \Q '()*)"!S"'( p.r &)'(89./&!B'(7Lh'(X$8./79/D(8i0z;0!7<79!1s#yBc'(#)U'(#%} XZY\[ D^8<7[^89" KY\[ 7<Ys# B'/#)S'(#^5 k<Y D ~ 6[5 ] d e |k s]*H ~ `qkq (0 *%'( 7<r*U@ )89KF@ !*\'(# tvux w w7u,-!"!XP79Z*r]{'(&[89'( uw + \Q '()*)"!'/Pc'()U!@ !D8u0-/0%!7<79!Ys#x dleY w YBc'(#)S'(#%5 XY\[ 0 .

(96) y+]

(97) ./89 # " # $# "Y7i,z hB'; #8LK/.;) GBc'(#)M'(#% Y PPOP 6 g[ IY

(98) PPP$o8 D LS}D0S .;BBC./)58< . uyw z|{ 1 '( 2*%!*U!@ )"89KF!@ 2B%)!X$8u )Pc'()"A!@ !0 '(#)w'(#^ k Y DR8<7F£%89"\.;7<'()" #%k#%8<s#$B)'&!#% \. K;./7<#) *./ 7Rs#%pB)"!"s#%p(#%V )!X$!

(99) BI0z0 £DCB'(#%)S'(#%C %D. L F 6 J ` D F 6*?GF P (0 F[4I[ED7. &!'(*%8989'(

(100) =F8<X$B798<s#s#GLYDG'/A7<89B&:8L¢8<!%!D&!2s#%8Bc!)"X\[S*,z./B^n B%7<8<s#)A#\U@ '()! X\2*,z£^8<"!&gY*I,z#%8<&!8L^@ B'/#)A79!SM~wDBC./)U[^!X$B79y7<U@ '()! X\ 0 0 wBC./H( * + ( i0 . vk. `.

(101) % / 1 - 4 , ^'/89 #e'()89¢!'(+*g!X$B8u0)y B#%ED./B)"p*wH>@ U!@ )./7<8L^;@ DB)*)" @ H ./7. (0 yZ&:)&:Z. !58<X$!)17. 7<'(8C*% N s#8c!H>@ U!@ )./7c,z"YB./A&'(#/0 '(#)y&p]

(102) ./89);D'(G./BB)"'^&: BC.;)'/j&:U@ XZ.Z*I,JF#79!)y*,-'()"*) (D*%8<'/

(103) D *U@ C8M*67<.]

(104) .c&! '(#8LK;./ /0 y&!'(%8<*! )$7."#Pc*89K8<"8<'(N)!@ H(#798u ) A N b(b(b N "*r7i,z89 !)5K;./7<79 uD8i0z;f 0 # %$ '"qDc'(bBc'( Rk }Ek [EDC Bc'(#)S '(# "& ! $Y

(105) PPP$ ! 'pC Y ^ # #)( N uD

(106) . + *, . `. +

(107) *, L. #. | !Z. . @`. D. + *, . &?. . !Z?. +*,. . P. (0 ( . R 6&:U!@ X\.+*I,JF#79!)w!5p£%./&!X$! 8<Xr#7./P%7</0 ,-!"p#6Bc89Bc!)5#)"PC.;8<'(j* s# 7u,-'(Bc!#%£%B%7<8<s#)*w7.r]

(108) .& '(e"#89K;./ '(+BC./)". 7.*C. 6*w7.rK)./89yK;./7<#}) kvD t #)7i,z89!)5K/.;7<7< N uD>'(H 7<Z79!&'^ ,$&!8< *7i,JM~w% (0 !?79!#)"rK;./7<#) t [%./&!5 LRk S} D Rk . H .;#&:w*g&![8< )"K;./797</D'/&E./79&!#79y7.pK;./79!#)! *m N *w7.'/7<#%8<'(*w&p%'(#%K(7<79gB[89wM~wD (0 y!7<#)wK;./7<#) t #) 7u,-8< )"K;./797< N - iDv'(HC! 79$79!w&!' ,$&8<! p*$7u,zM~w,

(109)

(110) /"

(111) . " 1L *m > D

(112) *m .y H .;#&:Y*Y&F89!)5K/.;7<7<;D;[F'(&!./7<&#7<U7.2K;./79!#) *0 - *%F7.S'/7<#%8<'(y*%1&"M'(#%K/!797<Bc89MM~wg.EK(&MK;./79!#)I8<8L8.;7<+ *m Rk ! N D t 2./8<%8*w"#89/0L090 RA!)")#)UB%)'(BC.;H(! 7i,z))"!#)1&!'(X$X$8< #)( N !"A7<]{)#8L1*27i,z))"!#)1! # [A* 7i,z))"!#)M*,z./BB)"'E%89XZ. 8<'/$*%&2s#8"2BC.;2! )"5 # [ #1( N 0 =O7u,z./))"89KM!@ ;D s#%!7<79!))"!#) )!@ &#B! )"[nu"no'/?.6 7.*C. * o7]

(113) ./#^8<&!8I*8<58<%H(#!)Y*%!#^+ohBc!*,z))"!#)0 .

(114)

(115) ,l, 4 , , ,l, 14 , F, " "$#) "[D^'(#!)")!#%)A).|"!&['()"8<!797<;D"!DB'/#)S&:C./s# Y:yD7<.p*89"./&!! )" N | U[ N | [0 p))"!#)!5B0z0*w7u,-'()*)"g* s' ) qD./# #8LK/.; . . . . . f 8<!#IDC&!&8"K)./8R*% 7<.*8<5:./%&!w! )"p79! $5).|"&'(8<)"!-& 7<8<X "## B *, *, . . X. Y. . . . =. 7<8<X e q N ! N.

(116) . qM. <. P. w. q ! qM ( 0 P T T w. yOBcN !#%K/'(8<)"#)+*!+[^X\B79!"8<X$B7<s#N&!"NB)"'(B)8[@ ^j@ ,z" BC./K)./8<jBc'(#) X - 0v.B)"'(B)"8[@ ^ @ /0 !,-'(P%89! EDH() .; V &!6./#j79!X$X\ *6A'()"!7 n ./ 7<798uDC&!'/X\X$# &'(!@ s#!%&!r]

(117) ./&8<79y*w7.X\.|"'().;89'(#%89K;./

(118) &[] Y\[ * T## TB q

(119) *, ! *, q - H u ' P (0 u F, " "$#) &% # "[D^'/#!))"!#)A!7<'/8uD!5X\'()./7<X\ A7<.p*89":.;&!y )g7<.r7<'/8c*% N &!797<y* N

(120) 0 '/X\X$y8<%*8<s#Uw@ ./#+BC.;)./H()./B) /0 ( 0 (D'/ 7<.rX$!#%)w! B). 8<s#gB./)Y7. *%8<"./&Y! )" N % N

(121) iD([M&/,-!"17<7<Us#8C'(#F89 ^!@ )"!"8<&8u0;M,-'(BU@ ).;8<'( *%2X$'h(!%C./H(22Bc!#Âs#2*8<X$8<#)17i,z))"!#)0>'(#)U8<797<#5))F&![2. $)X\.;8<'(D£"'(#'( #%e89"./ ./#^+P897<79!!0^8R*w&:C./s# P897<7<'(8<)"g'(r""w#wP897<7<)'(#H/Z.$ *89"./&!w.;# B%7<# Dq7<.bX$'|h/!%*!P897<79! )'(#H/!"!).a.b *%8<"./&+./#lB79# e*%7.eX$'h(* P%8<7<79!%'(8<)"!!0f 8<!#ID "87<>"1"A./7[!@ .;'(89);D/'(6Bc!#%U!"BA!@ )"!)1s#I,{.w 7.y]

(122) .EK(#)U*%"[1*C./ *%!S*89)&89'(M*8L4@ )! !!D^*!U&!'(X$Bc!.;89'(1!,-'(B! )"! E0%~g./U&!&!./A'/Z!,z.;"!%*.p &! s# 7<Y*!# X\'h(2"'(8<. *89":.;&!wB79#YB[8Lgs# 0 F&s#8c'(#1&!'(%&!!)"/D^8 "U7<8<B%&:8L¢!89!%/D7<UP897<79!F)'/#H(! N -'/ "[^@ !q"#)q7<.Y*)'(8L1)@ !7<79y. *89"./&!1*,-'()*%) (' ) $*qP897<7<v'(8<)"! N | [0|F,-!))"!#) e79'(8 . . . XY. . . . . . e. =.

(123) . . . . . . . . . -,. . . .

(124) ) "U*'(&./#$B79#M*27i,z'/)*)"Y* > 0F)!@ &8<!@ X$! ED7.gX\.|"'().;89'( (0 qBc'(#)M7.yK;./79!#) ( DC.;'&!8[!@ . 7u,-8<U@ H ./7989^2@ * ./# &: h n5^&: ¡A./)¢;DIX$'( )"gs#%

(125) 'R# "Y7<.p&!'/"./ g*gR89B&:8L¢2* >0 !Bc!*./ ED) 1 ">"[^g@ ./7[E@ .;'(8<)"!X$! .;#^no*"#S'(#.;#^no*"'(#A*% F EDBC./)17<"!#Z*!U&!'(X$B. 8<'/!D'(\B)@ #X$y# P%8<!NX$!897<7<#) !589XZ.;8<'(b* [ 0RT!@ "#X$'(gX\./8< C./ g79!g)@ #7L:.;g&!'(%#%. . N . |k. . 0!. N. N. . s' ). . . ]. N. |k s]*Hv. q. N !. I. q gHv. ' u N. N. . &w# "[E0. N. N. N. |k. . .

(126)

(127) 04 % ! ! 4& F89^!@ )./ A*S*U[@ K(!79'(BBc!X$! A*,zt 'V D^~y!89 [YR#&!8<./' ( I'/ '/P%#}!

(128) ^DB'/#)6&:C./s#+]{'(&8<'( Y uyw z|{ [D#3*U[@ K(!79'(BBc!X$! \7<8<X$89^Z@ * 7i,z))"!#)Y]

(129) ./89P7<2'(#7.r]{'/)X$ (0 N Rk u '" ` ('" -

(130) "'(#7u,- h^Bc'/R! " GR!} LoSIU7<! D0S '/U*U]{'(&[89'( u w *%'( U'(#%A79!1*A!@ )"89KM!@ A*,-'()*%) '( P'/)U@ !!0 =28<"8uD(7i,z))"!#)F]

(131) ./89P7<./"'&!8[!@ ./#Z"&:U!@ X\.p*I,JF#79!)M!5AB)"'(Bc'()"8<'(%!7<79Y./#$BC./M*X\B ('"q0 y*8LAs#,-!797<!"A*,-'()*)" (0F7<79!"S*'(&2*,z#%*!X$8Lnt'()*%)#BU!@ )89!#)"$.r 7i,z))"!#) ]{'/)"gs#8v"EDC7<79/DB)"'(Bc'()"8<'(%!7<79$. 7.)./&!89w&E./)")@ *%#eBC.;*%w!X$B s'">0 F#%897<8<./ y79&E./79&!#7*%$fb./7<798.EK8<Dy7<./ * . Q[ ~0 ( '( EDR!,

(132) %D [@ *#Z&)!@ "#79.;U./#6&E./1*M]{'/&8<'(! X$!#%)./P79!MPc'()U@ !D*./M7<Y&!./M'v#$ 7<.g*894#^n "8<'( !5F#8L]{'()X?!@ X$! hBc'^7<7<89B%89s#/N0|o 7<q'(P%89!%! r!@ H(./7<X\ #*U[@ K(7<'(BBc[n X$! 7<89X\8L^p@ *- \7i,@ &E./)5 ! )"\79!w*!%89^!@ k b *% N k b y*,-#$Bc8L Bc!)5#)"PC.;8<'( * N 0c^8 "#89]{'/)X?!@ X$! !797<8<B^8<s#;D8u0-/0C "'(# 7u ,- h^Bc'/R! " {&]YB./)./H/)./B% (0 ( 0 [D N

(133) .;*X\[r#%Z*8L^ @ k b gp7<!p./#%!#)"r'(P^8< Bc'(#)S'(#% Y #%e*U[@ K(7<'(BBc!X$! 7<89X\8L^2@ '(#7<.r]{'()X$ k '1! k ' k >'" ` k '9'" - P ( 0 o79SX$'( ) ./#"8s#g7<2!)"X\*,z))"!#)B)"8<&8<BC./7 N79y)" '( Y*Ys#%!#2* *%8<")89P#%89'(gH ./#%89!%!!0;F)@ &!8<!@ X$! ED|897<)"'(#%K/! ~ N} ~ - !- 7<vs#1B'/#)R'(# K k Y !CD ] k 's]`v] k 's] H ~ N^£%B ! ~ - qk !gq £0q>./)./897<7<#)D 1.;7<! 8< !#"UF%' $

(134)

(135) ' '( UB)'(Bc'(@ #%.;BB)'&:2./C./7Lh8<s#* &ZB)"'(P7u! X$PC./@ Z"#)r7<.+X@ '*\B./)./X$)8 I0R^8 "p#89]{'/)X?!@ X$ ! w!797<8<B^8<s#;D 897<1'(P%8<!%! Y#Z*A@ K/!7<'/BBX\ *y7u,o!@ &!./)"U*Y*!"89^!@ p.p '(#%A'()*)" X\./8<1*'( A7<! !)"X\*U!@ Bc!* * . . . . k . . !. . . . k . . . ! &. N. S('aN. . S . k . ' 9'. S. `). " . s'. P. F #^j./#"8B)"'(#%K/! s#%7<!&!' ,$&!89! g'( g*%!gs#!#%!w**89")"8<P#^8<'/bH ./#%89!%!!D #%89]{'()"X?@ X\ ! AB'(#%)Z'(#^ DS897<$)'/#%K(+*%!+&!'(%":.;! ~ N l ~ - !797<!2s#B'/#)2'(#/ k \Y D ]

(136) S k 's]lH ~ N^[^B 3! ~ - qk !1q - [0I>'(#) &]

(137) ./8<)"/DI79!w./#^!#%)w'( wP'(89N*6XZ.|"'/).;8<'(2#)w79!g*U@ )89KF@ !wBC./)58<7<79!y*#N'h(./# *%6)./%898<'(b* nYs#I,z897<y)"'(#%K/! *C./w7<y).K;./#N*,-=2K!+) *

(138) , ( n *U!@ X$'( ) 2*%!XZ.|"'/).;8<'(S./C./79'(H(#YB'(#%)Y&!!79#8R* 0 -/.1032#203.4.65287:0< 9 ;=0?>A@CB8D428@FEG@IHJ@LK6@CB8MD4@FB8D42NPO6Q RTSU5D1B#VUWU.65378VX@C9 B8@EXY VUWU.Z5U@C;[;]\[.478\=^/\[74a_@ `G;]0A;]5\XEG@Fb+cUd e Y @Bg7.10aB _@ ^/@CBhBh03\]28@C>?@ 7i0A 9 EG@ Bj\[74a_@ Q f f f f.

(139)

(140) 04 l/ y c ^ R?B)89&!89BC./7)!@ "#79.;N*3&!"?BC./)589*?XZ.`! 3Bc!#%aV )K# &'(X\X$# .;X?@ 7<8<'/).;8<'(\* ( 0 [0%o7R*'(w79g*A@ K/!7<'/BBX\ 798<X$89^ @ ! 1'" ` '" (0 +. *% D'h ./#N*)./%898<'(b* D]{'(&[89'(G*w)'(892K;./)"8./P79!5 Y uD kY Z rY D*C./*!!"BC./&!]{'(%&89'(7<Y*wohB $5)./"898<'(+H ./#%89!% &Zs#S" *A!@ &)8< X\./89!C.;!0 y '/ 7u,-!"BC./&MK/!&['()"8<!7 *%!R]{'(&[8<'/RX\#)./P79! ! ! Q !797<!Ys# B'(#%)S'(#%C Y, uD R b b 1!" uw D t B'(#%)S'(#C X Y<[D897I£%89" *%!#^+&'(5:./ ~ N ~ - %!7<79!Ss#wBc'(#) t '(#M Y, RM k Y ^D ( ( ( - £^B ! ~ - qokI!1q - ' d e d | k ' H ~ N !

(141) h eih h h (0 P . y68< )'*#89F./#"8C7u,-!"BC./&!SK/!&['()"8<!)7 £D(*U[@ C8C&!'/X\X$ .EK(!& /0 )!X$B7<./&c @ B./)7<!Y*%!#^ &'(*8L8<'/ ( ( - [^B ! ~ - qk !1q - 's (0

(142) d e d | k ' H ~ N !

(143) h eih h h . k k ` ) H [^B o! ~ - q31q P (0 d e ~ N ! F%DI'(b*892s#,z#%BC./)589

(144) )"!BI0 "gPc'()U!@ r"8uDc*C./ (0 {)B0*C./ (0

(145) tn /0

(146) -[D ~ N[ ~ - B#%K( $V )"r&:'/8<8989*U!@ Bc !%*C./X$X\2 * Y0 yeX\'( ).;7<'()"s#,-'(j.$7< *U@ K/!79'(BBc!X$! y798<X$89^) @ (0 +.K/!& Y [D Pc'()"A!@ w*C./% £D Y 1N S g * SPc'()U@ w*C./ £0 '(#)y'(P^!%8<)&)@ #7L:.;B7<#2B)@ &!89ys# ( 0 £D'/#]

(147) ./89'(2*!g hBc'/ gB7<# ]{'/)" G>'/#)>'(# Y

(148) PPP$ 6 S[ Y PPOPOo8 sD LoS D0S ./B%BC./)"8<- ! . u w [0 bo7R[^8<5 7s# B'(#%)S'(#%C k Y D Rk !gq q 0 ~g.;&![`!@ &!)"89#);Dq7u,o@ '(8<79\*U!@ 89H(7<.e)./"B'("898<'(l[ D D 0M,- hB'/! " i )"!"!XrP7<PcE./#%&!'(#B .G 7i,z hB'; i2, p#^8<798<!@ ZB./)~0 J [6F0 ! ( B%#8<yB./)2r0 . `w~0 ( D #"I7<7< )s#8<)"gjB7<#7.\Pc'()"89#*r*%! LoSF D0S 0RF,- h^Bc'/R! " g" 7.&'(*8L89'(j*, # ! $ " "# # "[. Ds#%8M./"#)6s# !" $5 # ,$.;X\X$! 2"'&:C./589s#% &0cF7<79g!"2")89&X\ B79#Y]{'()"ws#%p7<.6&'(*8L89'(+*,z#%8Ln ]{'/)X$y h^Bc'!7<798<B%8<&89^@ X\B79' hM@ gBC./)Ar0 . ?[~0 ( D iDX\./8<A.7u,z.EK/.;./H( *%H ./).;8<)p7u,-[^8<5!%&!* | k b £Dq*8L^@ *#"&:U!@ X\.j*,zM#%7<!) .b '(#%Z*C.; KY u0vFlBC.;)"89&!#798<)!DIr0 , ! #"W[Y 0 $

(149)

(150) ' 1$B7.;&!! r'(# &![ hBc'/ ;0 y B#%*'(&w)@ #X$!)';)wB)"8<&8<BC.;7I)@ #7L:.;"'(#7.r]{'()"X\g*%#. . . +. .

(151) # "

(152) !

(153) "

(154) " "

(155) ! ) , " + " " " . )"

(156) ! ) "

(157) " " " . " " "

(158) . " !

(159) , # " " " " " "

(160) . " "# !" ! ) * " " ( 0 . RF*U[@ K(!79'(BBc!X$! ( 0 c 8<X$B7<89s#%q!wBC.;)"89&!#798<)I*g@ s#89K;./79! "qD!&!'(5)"#89 ]

(161) .;&!8<79!X$! r. BC./)589)Y* FDC./898Rs#w*2X\.|"'().;89'(A*%#e)"!"/D*2))#)"#89K;./ 7u,-!))"!#) ' 'U "#)Y7<Y*A!@ )"89KM!@ "BC.;8./79!S*g7<.*!%89^/@ D 7u,-!))"!#)

(162) iDR7<'()"s#/DRBc'(#)w# D./BB./)"8<! .+ 7u,-!^n !XrP7<N*%!6]{'(&8<'(% X\#)./P79!j. &)'(89.;&! [^Bc'(! 8<!797< *,z£^B'(./ qD8u0-/0%!797<!Ys#,-8<7R£^8<" - 6 !79Ys#%pBc'(#)S'(#% D ' ^[^B - 7u,-!))"!#)

(163) w"#)+7<!"!"8<P897<8L^!@ *% w!Q7. &!'(*%8989'(8<%898<./7< vDCBc'(#)7.Xe!V X$g&!7<./" *%w]{'/&8<'( D 7u,-!))"!#) "! $ # %&! #D '(#'&! '$ # ("! '$ #D!7<'()"s# ! !"+#* %1*%8<")89P#%89'(!X$BA!@ )!@ /0|F BC./)58<&#7<89!)D.Y &!'/*898<'(*M*A@ C%8<) ) BC./) |. . #. #. . . #. # g}Y # rY. . #. . % Y 1N . #. 1k<Y k Y. . . #. . #. $#. . %. . !. . g. 1'. Y. v. . `. . R k b #. '. . R k b . O#. . P. s'. . Cd e d . t. t. . | k 1!Zd e d . !. . R k . Q. ~ N ~. ]. dle. t. !. t. . R k b . Y. . ~ N. q3gq. ~. . dfe. Ck. . j s]iH. . !. . . . | k b . . R. b . !. . . R. b . >7<'()"-s* # \!5F#S*%8<")89P#%89'(w!X$BU@ )!@ U,)Q#AK;./)"8./P%7<1./7[!@ .;'/8<)M*'/ 7.*!%89^ @ !5 *C./ 7u,-!"BC./&!6*Z^&: ¡A./)"¢Z*w]{'/&8<'( uw .+ *U@ &!)'/8<./& )./B89*/D/7<S*U[@ K(7<'(BBc!X$! 17<89X\8L^ @ (0 >"1*'(%&K;./7<./P79/D '(#

(164) q [D(* Ms#% j"2#w*89")"8<P#^8<'/ZX\BU@ )@ /0 F)!@ &!89@ X\!D'(+B)'(#^K( 7<!YB%)'(Bc'(8L89'(YYU!@ '/)!! X$!#%89K;./ . ! {| c

(165) # / "

(166) ! ## #CX Y<[ # " " ~ N " ~ - % "# O#!" ! #) # * g}Y, "gk Y . . . . #. . d e d . ". . . ]. 8. '. | k . . d e d !. . R k (]iH . ~ N. . . . R k . ! -!.

(167). h eih. . ( h h ( ( - £%B . 9!. ! {| c # 0 "1

(168) ! #) # XcY [ 5 ~ N ~ - "# 4O#!" ! #) # * gY "gk\Y . . . l !. 87 " . ] 8. 6 . a . d e. d e. . | k s]*H . ~ N. ! -!. h eih.

(169). . ~. g 3d e R. p. ( - [^B ~ . . d e d R k . -. ` 8. qkI!gq. '. R k . -. ' . )". Y. . . Y23. . k. qkq. . a6XG`. . . . P. P. 8. R k . # " ".

(170) | # ' "4

(171) ! ## # * g}Y, "gk Y . . . &! "!. ". . . . . | k b $#! . . . . R. b . #. &! &! !. . . . | k b . . R. !. #. b . $# #. Y. . . .

(172) # " ". . "! . . "!. R. k . . b #@` . '$#. R. b . O#. '. 8. `. "# " ! ) . ~. . R k . R. 8. . #. . . ! - ! ( ( - ! " . ( " #

(173) " " # " " . "

(174) . "! | #c ~y'(%'(6# 8<*U!@ +*+7.jB)"!#%K/b*#?U@ '()! X\ ( 0MF,z./"!)58<'/ {8 [Dq&!'(# *B#8< 79'(H/!X$B!D . [@ ^1@ *U!@ X$'( )!@ SB./)>=p0 { &] ( iD|U@ '()! X\ ^D|BC./H( £0/xy#C.; .y 7i,J.;)"8<'(