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UNIVERSIDADE DO VALE DO ITAJAÍ
PÓS-GRADUAÇÃO EM NÍVEL DE ESPECIALIZAÇÃO
LATO SENSU (MBA)
PROFª ROSILENE MARCON

Fonte de recursos para empresas

DIÓGENES PEREIRA MAGNUS


Fontes de Financiamento de Empresa e Uso de Capital de terceiros
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cccc+
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c % c c c c !c c   c c


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cc ccccc c


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cc cc* ) c

2cccc"ccc c!c

c c c
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2cccc"c
cc* c !ccc.c c 3 cc c
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c c  c

c c c  c
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2.1 FONTES DE FINANCIAMENTO A CURTO PRAZO GARANTIDO

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4cccc
%!cc 
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4cccc
cc c c c   ,c

4cccc5
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4cccc %!cc c c


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4cccc7
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8c %!cc
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cc c

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: cc&c.cc

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cc


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cccc
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Características de Empréstimos com Garantia a Curto Prazo

7
c c c c c  
c c c c c c c 
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c c 
cc
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c c c c !c c c  c  c c c c

cc ccc$c c
cc

cccc c

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a)Caução de Duplicatas a Receber c4c %!c c 


c c c c
c c  
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c c c c c c c c 
c
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c

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Tipos de Caução:

"c
c!c 
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c$c c
c 
c
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c c  c c  c 
c c c  
c c

c 
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c  c c  
c c

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;c  c c c 


c c c 
c c c 7c 
c c
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c 
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c c  c c  c c :c c
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c c c c 
cc c 
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cccc 
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c
Processo para Caução de Duplicatas:

î ccc

cc
c  c
cc cc


ccc c
cc
cccc
cc
c
c !c  

c c c "c 
c c c 
c c

c  

c   c c c c 
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c 

c c 
c c c
c c c 
c 
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cc  c

c7c c
c c c c  c c 
c 
c c :c

%!ccc c
ccc
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cc
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c c 
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b) Factoring de Duplicatas a Receber cc4c$c  


cc9
cc1 c
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c c 
c c c 

c   c c
c


%!c
 
c $c  c c c


%!c
 
c c c

c c  c c c $c  
c c 
c !c  c
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c c c c c c ' c c 
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cc
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Contrato de Factoring:

$c  
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%!c c c  c !c
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c c c 

c c  c c

c c c  c !c 
c c %!c c  c (c 


c c c
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c c c 
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ccccc c

7ccc  c !cccccccc5ccc



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ccc c cc c cc  cc c c
ccc ccccc  %cc
c'c ccc
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Uso de Estoque como Colateral

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%! c c  c c c


cccc  
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c 
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c c    c

Empréstimos com Alienação

;c c c c 


c c  
c c 
c c 
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cccc
cc ccccc  
c c
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c c  
c c c c c
c !c  'c c
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c  c c c 

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cc
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Empréstimos com Alienação Fiduciária

:c ccc cc 


ccc c
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cc  cc
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ccc 

cc 
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cc c
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$c c  !c 
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Empréstimos com Certificado de Armazenagem

Ccc  cccc ccccc ccc


 
c
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c c c  c c c  c c c c c
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c c  c c  c c c =5c 
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c c c 4c 
c c  c c c  
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c

2.2 FONTES DE FINANCIAMENTO A LONGO PRAZO

2.2.1 Empréstimos

7
c c * c c c c  
c c 
c c c

c
ccc cCc
c  ccc


%!c
 
c c
c 
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c c !c
 
ccc <cc c


 
cc



c$c cc
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%!c
 
c c 

c c  % c

c c c c c  c c  c <
c 7
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c  c
 
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c c c c
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cc c

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Custo do Financiamento a Longo Prazo

$c cc

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c  c c 
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c 

c c c c
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c c  c c c
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c c c c $c c
c cc ccccc ccc

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cc   ccc
c
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ccc c
cc
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Vencimento do Emprést imo

L cc
cc cc&c
ccc ccc
cc ccc!cc
c ) c

cccc c  


c c c 
c c c c
%!, c
cccc c  &
c c c c 
c c c 
c c 
c

,c c
ccccc
c cc
cc ccccc c c

7c c  
c 
c 
c  c 
c c c c 
c  c

!ccc c
!cccc c cc c 
c c

 c c c c "c 
c  c 
c c c 
c c 
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c
cc
c c  ccc c c
c c c 
ccc cc
cc c c
c
Montante do Empréstimo

$c  cc
c cc 
c
cc cc ccc

c $c c c 

%!c c 
c  c
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c cc  cc
c cccc
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c c  c 
c 
c 
c  c c  c c c



%!c $c   c c 
c c c c  c c

c  c c 
c c c c 
c c %!c c 
c



cMc
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c
Risco Financeiro do Tomador

î c 
c c  c 
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c c c c 
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c c c c c  

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c 
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c c c 
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c "c  %!c c
c c c c 
c c c c c c 
c


c7c
%!ccc
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ccc
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% c c c  c '
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c c  c !c
cc cc
cccc ccc
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c
Custo Básico do Dinheiro c

$c c c 
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c c c c c c 
c c c c c c c c
c L c c c c c c c c  c c c

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c c  'c c 
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cc
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c c c c 
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cc
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!cc  c cc c
c 
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c c 
c c &
c c 
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c c c c c c &
c c 
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c' c

2.3 DEBÊNTURES

/c)c*
cNO@Oc

7
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c 
c  
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c
c % c  c  %!c c ( 

% c -
 
c c !c c c c c
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c"  cF  
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-

)c %!c c  c c  
c c 
c c  c c c

cc
cc 
c
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9& c!ccc
c  c c
c.ccc %!cc


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c c  
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c 
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cc

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c c 
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c!c
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c  c  c c & c c c % c !c .c  c 
c



c c

%!cc cccc 
c c
cc
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c c  %!c c  
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cccc 

c ccc c 
c<
cc
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c c  c c  c

c %!c 
c
cccc 
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cccc
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c c %!c  
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cc
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c 'c c 


c 

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&
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%!c c 
c c  c c c c

c
c
Tipos de Debêntures

9& c c  


c 4c !c 

c c %!c c c 
c
 
c c c   c  c c 


%!c c c
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c

c&c
c
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c cccc 9& c 4c &c c 




%!c c 
c 
c c c
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c 
 
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% c c c c
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c cccc 9& c =


c 4c !c c c !c 

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c c c 
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c 7c c 
c c 
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c c 
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c c c cc c c c  c c
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%!ccc cc cc


% c
cc

 
c cccc

cc  cc 

c

c cccc 9& c c * c 4c 


c c  c c c  c  c


c  c 
 
c 7c 
c c c  c 
c c c c c
cc c
 ccc cc

Debêntures com Garantias - os tipos básicos são:

c cccc 9& c c P


 c 4c c c & c  
c c c  c
c c 
c c c 

% c : c c c c  c c
cc
cccc  cc
!cc& , c

ccccc9& cL 
ccc 4ccccccc c



c  

c c % c 6c &  c c c  '
c c
& c  
c 

c  c c c !c 'c c
9& c L 
cc c $c cc c
c ccQ@cc
R@Ac
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c cccc 

c c L 
c c 7
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c c c c

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cc 
cccc c 


c
c c  c 

c c  c c  c 

 
c 

c c
c c 
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 c "c c c  % c

5
cc c


cc !cc

 cc
cc
& cc

2.4 Ações

/c)c*
cNO@Oc
ccc="c

 
)cc 
c

cc=
c" S
ccc cc
 c ccc 
c
c  
c
c


cc%  c

+  )c
c
4cccc 9

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c c 

c 

c 
c c
,c
4c ccc /

%!c c 


%!c 
c c c % c c 

c c
 &
c c  c c 
c c    %!c c ,c
4cccc = 
%!c c  c c 
!c c c % c c 

c c c
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c c 

%!c c .c %c 
c 

c  
c c R@c

c
c
7
)cc
c
4cccc$

cc!c

c.cccc  
c


c c

c


cc!cc, c

4cccc  

cc !c&c

ccc c &
c c 
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c c:c ccc 
c!cc

c% cc  c

c
-)cc
c
4cccc :

c c c 

c  c  c c c c 

c =c
  &
c
c c
, c

4cccc7 
c c !cc 

c$c  cc 
c c  cc5
c
c cc

c c cc c

2.4.1 Ações ordinárias

$c 
c 

c c c c !c c 

c  c c
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cc
'
c c 
cc c c;c


c c c .c c  '
c c 

c 
c 
c c
&
c  c c c c 5c c 
c 
 
c c  c c



% c c c  c c 
c c c c c c

%!c  c
c c c c  c c 

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c c

"c % c 



c c c c c c c c c <
c


c c c c 
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c c c

ccc
ccc <cccc ! 4
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c c

c


 
c 9c c c c  c c
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ccc<
c

c cccc
cccc
cc% c c 
c
c 
ccc c
c
c c cc ! c

L c c %!c 



c c 

c c c 
c c c c c

%!cc
cccc
% c 

c$cc!c
cc
cc
c c
cc

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$c  c c 



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c c 
c
c4 c
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c% cc 
c$c


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c !c 
c  c c 

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c c
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c c !cc cc cc

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cc c cc

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5
cc


 c c c " c c c 

 c c c c 

c
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c 
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% c c c c c c
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c 

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cc%!c

c !cc  'c 
cc c
c 


%!c 
5
c c  c c c c 

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c
c 
c 
c c c c 

%!c $c 

c c
 c c c ccc ccc &
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cc 
c'cc)cc
cc
ccccc 
c
c%!c !cc c
ccc

c c c

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c c 

c c c  c  c


c  c c



%!c c  c c c 
%!c c c % c c c c c
 
,c   c c c  c c 
c &
c c
 
 cc 
cc
  c

c
2.4.2 Ações preferenciais

"c%!c 
cccc
c c


cc'c  c


c  

c c %!c c 

c  c c c 
c
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cc c 
 c$c

c 

c
&c c  c 
5
c
c c c 
c c   c c c

'
c7ccc 4c

c %!c 
cc?Acc%!c
 
ccTc?@@c

"c %!c  


c c G  c 

c c  c <
c c
c
 cc !ccccc c  cc
c 
c c

 c c "c c <
c 
c % c
 

cc cc c
 
c  c c
c 
c 5
c c 
c c 
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c c 
c c 
c "c %!c
 
c c c c  !c c  c c c c 

c c
c

cccc c
cc c ccc% c
c c c   c 

c "c c 
c c %!c  
c c
c G  cc cc  c  
cccc
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