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Instructions

WARNING: DO NOT RENAME THE SPREADSHEET. ALWAYS NAME IT "Bid.xls".


OTHERWISE THE MACRO WILL NOT RUN AND EXPLODE ON YOU!
OVERVIEW
This workbook allows you to construct a decision analysis simulation of the Antamina mine described in
the "Bidding for Antamina" case. The simulation consists of a number of "trials". In each trial, a random
set of monthly copper and zinc prices and convenience yields is simulated for the first two years of the
mine life, during the feasibility study and before the mine begins operations. At the end of two years, a
forward copper and zinc price curve is constructed, and used as input to a DCF analysis of the three
scenarios described in the case. Summary statistics of the NPV of each of the scenarios and other variables
is presented.
The workbook consists of nine worksheets. All worksheets except the "Summary" worksheet are locked.
You may unlock them by going into the "Tools" menu and choosing "Protection". This will allow you to
change variables with abandon. Dont forget to make a copy of the spreadsheet before doing so.
(1) "Summary" -- This worksheet takes as inputs the initial payment, the investment commitment, and the
number of trials that the simulation is supposed to run for. Input variables are highlighted in red (if you
have a color screen, of course.) This sheet also generates as output (i) the amount of the bid, (ii) the NPV
of the mine without the option to abandon (Section A), (iii) the NPV of the mine with the option to
abandon after 2 years, without penalty (Section B), and (iv) the NPV of the mine with the option to
abandon after paying the penalty described in the case (Section C). This worksheet also shows the penalty
to be paid as a function of the investment commitment and the required investment for each of the three
scenarios.
(2) "Parameters" This worksheet has all the input parameters required to calculate the WACC, inflation
rates, and other capital markets data used by the DCF calculations. It also allows the user to change the
probability of each of the three outcomes for the mine ore quantity. The lower portion of the worksheet
has all the parameters required to calculate the paths for the copper and zinc prices and convenience yields
The drift rates are the long-run trend of copper prices, which are assumed random around the long-run
trend. The convenience yields are modeled as mean reverting processes, which tend to oscillate around
their means. A measure of how quickly this oscillation happens is given by the mean reversion parameter.
The correlations between the commodity prices and convenience yields are also included. For more
on the prices and convenience yields of see the "Copper and Zinc Markets: 1996" note for the case.
(3) "Simulation Summary" This worksheet has the summary statistics from each of the runs, which are
shown in (4) "Simulation Results".
(5) "2-yr prices" This worksheet has the monthly copper and zinc prices and convenience yields as
calculated by the Monte Carlo model. For each run, a price and convenience yield path is constructed
on a monthly basis according to the commoditys volatility, mean reversion parameters, and correlations
with the other parameters. The final price and convenience yield path (at month 24, 2 years), is used as
input to calculate a 20 year forward curve of copper and zinc prices, which is then input into the DCF
analysis to model the future prices of copper and zinc.
(6)-(8) DCF spreadsheets These three spreadsheets have a full DCF analysis of the mine for the three
quantity scenarios described in the case.

Page 1

Instructions

(9) "Macro" - This worksheet is the macro that drives the Monte Carlo simulation.
Instructions
(1) In the "Summary" worksheet input the initial payment and your investment commitment. Also input
the number of trial runs you want the simulation to run for. You will need at least 1000 trials to get
reasonable Monte Carlo estimates.
(2) Click on the "Run Simulation" button with your mouse. Excel hides the worksheet while calculating,
and shows you in the upper left hand corner the iteration number. When the simulation is done, the output
is shown in the "Summary" worksheet for the three different options described in the case questions. To
halt the simulation, press the "Esc" key, and Unhide the spreadsheet (under the File toolbar). If you want,
unlock the worksheets and change the assumptions to see what happens. Hint: If the spreadsheet runs
slowly, save the spreadsheet to disk before running again. This clears the clipboard and makes the
simulation run faster.

Page 2

Summary

Initial payment (millions)*


Investment commitment (millions)
Total Bid (millions)

$20.00
$3,500.00
$1,070.00

1200 Trials
in Simulation

* Minimum payment is 17.5 million


NPV of Project (Section A)
No option to abandon
Mine PV at year 2
PV of required investment at year 2
Feasibility study PV at year 0
Project NPV at year 0 (discounted at WACC)

$2,446.18
$(593.16)
$(22.76)
$1,503.26

Penalty
876
869
863

NPV of Project (Section C)


Option to abandon at year 2 with penalty

NPV of Project (Section B)


Option to abandon at year 2
Mine PV at year 2
Expected PV of required investment at year 2
Feasibility study PV at year 0
Project NPV at year 0 (discounted at WACC)

Required
Outcome Investment
Low
581
Expected
602
High
622

$2,403.22
($426.25)
$(22.76)
$1,605.34

Mine PV prior to penalty at year 2


Expected PV of required investment at year 2
Expected value of penalty at year 2
Feasibility study PV at year 0
Initial Payment
Project NPV at year 0 (discounted at WACC)

Page 3

$2,331.08
($369.17)
($558.38)
$(22.76)
$(20.00)
$1,113.09

Parameters

DISCOUNT RATE PARAMETERS


Variable
Annual Risk-free Rate
7.0%
Long-term Inflation
2.6%
Tax Rate
30.0%
Nominal Cost of Debt
7.7%
Risk Premium
7.5%
OUTCOME PROBABILITIES
Probability of Low Outcome
Probability of Expected Outcome
Probability of High Outcome

Debt
Nominal Cost of Debt
Debt (millions)
MV of Firm (millions)
Tax Rate
Cost of Debt

WACC CALCULATION
Equity
7.7% Risk Free Rate
2,205 Beta
15,535 Risk Premium
30% Cost of Equity
5.4%
WACC:

7.0%
0.53
7.5%
11.0%
10.2%

0.2
0.6
0.2

COMMODITY PARAMETERS
Variable
Copper
Initial Commodity Price
$1.00
Annual Commodity Volatility
20%
Initial Convenience Yield
20%
Convenience Yield Volatility
25%
Commodity Drift Rate in (%/year)
Convenience Yield Mean
Convenience Yield Mean Reversion Parameter

-2.8%
6.0%
0.8

Zinc
$0.55
20%
-5%
25%

Copper
Zinc
Cu CY
Zn CY

-1.4%
-0.2%
0.6

Page 4

CORRELATION TABLE
Copper
Zinc
Cu CY
1.00
0.44
1.00
0.57
0.00
1.00
0.00
0.73
0.00

Zn CY

1.00

Simulation summary

Statistic
Mean
Median
Minimum
Maximum
Std. Deviation

Statistic
Mean
Median
Minimum
Maximum
Std. Deviation

NO OPTIONS PV AT YEAR 2
PV HI
PV EX
PV LO
$4,084.33
$2,205.12
$1,531.19
2103.02
1389.01
1040.64
(823.36)
(599.36)
(480.05)
131,593.08
31,830.33
17,939.27
7578.95
2938.01
1808.58

COMMODITY PRICES AND YIELDS


TOT PV
Cu Price
Zn Price
Cu CY
Zn CY
$2,446.18
$0.84
$0.54
4.51%
-0.60%
1,462.13
0.81
0.53
5.72%
-0.32%
(620.30)
0.37
0.21
-21.23%
-29.74%
49,004.67
2.04
1.22
10.00%
10.00%
3640.31
0.22
0.14
5.72%
7.22%

OPTIONS I (NO PENALTY) PV AT YEAR 2


PV HI
PV EX
PV LO
TOT PV
PV INVST
PV HI
$4,061.80
$2,161.78
$1,468.94
$2,403.22
($426.25) $4,015.23
2,103.02
1,389.01
1,040.64
1,467.04
(574.09) 2,103.02
0.00
0.00
0.00
0.00
(574.09)
0.00
131,593.08
31,830.33
17,939.27
45,580.13
0.00 131,593.08
7,589.44
2,965.81
1,851.45
3,612.81
240.99
7,611.93

Page 5

OPTIONS II (PENALTY) PV AT YEAR 2


PV EX
PV LO
TOT PV PV INVST PENALTY
$2,086.22 $1,381.52 $2,331.08 ($369.17) $558.38
1,389.01
1,040.64
1,466.28
(574.09)
869.46
0.00
0.00
0.00
(574.09)
0.00
31,830.33 17,939.27 45,580.13
0.00
869.46
3,010.27
1,901.12
3,649.95
259.86
393.79

Simulation results

No Options PV at Year 2
Commodity Prices and Yields
PV HI
PV MID
PV LO
Cu Price Zn Price
Cu CY
Zn CY
$4,172.33
$2,150.09
$1,409.68
$0.51
$0.42
1.22%
-9.85%
$1,484.12
$681.18
$398.24
$0.49
$0.40
8.59%
-7.20%
$695.39
$414.07
$283.94
$0.56
$0.48
6.34%
-1.33%
$8,114.32
$4,855.23
$3,467.06
$0.90
$0.53
-3.68%
-6.38%
$19.48
$55.32
$57.68
$0.80
$0.41
9.98%
3.96%
$1,062.52
$754.35
$590.88
$0.94
$0.49
10.00%
-1.55%
$(500.45)
$(334.36)
$(256.00)
$0.60
$0.55
9.82% 10.00%
$2,909.16
$1,819.36
$1,328.29
$0.71
$0.68
5.19%
-4.51%
$(319.88)
$(183.32)
$(126.85)
$0.76
$0.45
10.00% 10.00%
$1,493.63
$1,277.05
$1,095.07
$1.40
$0.75
8.54% 10.00%
$2,475.05
$1,603.94
$1,208.15
$1.08
$0.54
10.00%
-5.19%
$577.08
$371.96
$274.62
$0.80
$0.37
10.00%
-2.25%
$8,707.11
$4,864.60
$3,355.11
$0.79
$0.44
-7.08%
3.61%
$1,901.94
$1,356.24
$1,068.29
$1.11
$0.62
10.00%
-2.11%
$4,190.00
$2,774.11
$2,081.41
$0.83
$0.76
-0.15%
-0.76%
$5,454.03
$2,825.14
$1,884.55
$0.70
$0.33
1.14% -11.98%
$4,938.32
$2,675.42
$1,835.93
$0.84
$0.45
5.32% -10.33%
$783.22
$436.24
$295.39
$0.74
$0.35
10.00%
-4.51%
$2,439.98
$1,479.49
$1,051.39
$0.54
$0.62
-2.55%
5.25%
$5,096.73
$3,701.73
$2,926.56
$1.51
$0.86
3.68%
-0.14%
$702.03
$489.49
$376.27
$0.74
$0.58
10.00%
-0.06%
$159.99
$142.57
$118.01
$0.73
$0.42
6.17% 10.00%
$1,000.11
$710.36
$548.54
$0.68
$0.65
2.81%
9.19%
$1,495.74
$1,019.99
$770.45
$0.73
$0.45
2.56%
2.14%
$941.56
$761.50
$631.59
$0.94
$0.64
7.88%
4.36%
$3,065.03
$1,797.95
$1,269.30
$0.71
$0.46
3.86%
-6.98%
$641.13
$466.48
$365.06
$0.64
$0.78
10.00%
1.82%
$1,394.89
$1,036.87
$823.94
$0.86
$0.62
3.81%
7.85%
$179.57
$180.41
$159.69
$0.80
$0.47
8.74%
5.32%
$(8.93)
$46.45
$55.49
$0.76
$0.51
8.26%
9.68%
$(425.63)
$(270.72)
$(201.06)
$0.71
$0.44
10.00% 10.00%
$1,389.46
$649.75
$387.11
$0.55
$0.41
10.00%
-6.88%
$5,168.98
$2,983.11
$2,100.93
$0.72
$0.74
4.57%
-7.64%
$(590.96)
$(407.38)
$(317.13)
$0.59
$0.49
10.00% 10.00%

Page 6

PV HI
4172.33
1484.12
695.39
8114.32
0.00
1062.52
0.00
2909.16
0.00
1493.63
2475.05
0.00
8707.11
1901.94
4190.00
5454.03
4938.32
783.22
2439.98
5096.73
702.03
0.00
1000.11
1495.74
941.56
3065.03
641.13
1394.89
0.00
0.00
0.00
1389.46
5168.98
0.00

Option I (No penalty) PV at year 2


PV EX
PV LO
TOT PV
2150.09
1409.68
2406.45
681.18
0.00
705.53
0.00
0.00
139.08
4855.23
3467.06
5229.41
0.00
0.00
0.00
754.35
590.88
783.29
0.00
0.00
0.00
1819.36
1328.29
1939.11
0.00
0.00
0.00
1277.05
1095.07
1283.97
1603.94
1208.15
1699.00
0.00
0.00
0.00
4864.60
3355.11
5331.21
1356.24
1068.29
1407.79
2774.11
2081.41
2918.75
2825.14
1884.55
3162.80
2675.42
1835.93
2960.10
0.00
0.00
156.64
1479.49
1051.39
1585.97
3701.73
2926.56
3825.69
0.00
0.00
140.41
0.00
0.00
0.00
710.36
0.00
626.24
1019.99
770.45
1065.23
761.50
631.59
771.53
1797.95
1269.30
1945.63
0.00
0.00
128.23
1036.87
823.94
1065.89
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
649.75
0.00
667.74
2983.11
2100.93
3243.85
0.00
0.00
0.00

Simulation results

$2,650.97
$1,594.74
$458.24
$508.80
$1,375.55
$3,356.30
$(146.07)
$1,100.72
$3,520.95
$7,053.31
$10,274.31
$2,532.28
$4,638.28
$5,262.80
$380.45
$4,165.74
$1,060.75
$721.64
$1,329.38
$768.84
$5,157.00
$6,419.25
$896.96
$1,701.92
$949.23
$1,440.44
$4,774.42
$577.39
$4,682.86
$1,799.02
$935.26
$1,109.13
$221.10
$12,118.27
$124.12
$11,560.98

$1,347.04
$1,029.40
$435.82
$459.85
$967.80
$1,596.07
$(75.45)
$698.75
$2,222.56
$4,485.20
$6,364.80
$1,633.05
$2,810.60
$3,371.02
$357.40
$2,323.51
$812.15
$634.97
$841.22
$637.21
$3,209.09
$3,303.68
$375.64
$1,088.77
$785.47
$1,011.06
$2,667.82
$410.40
$2,553.01
$1,250.69
$791.28
$691.32
$246.12
$6,562.27
$93.04
$6,135.66

$874.81
$766.55
$387.84
$400.89
$746.00
$1,005.81
$(51.86)
$515.13
$1,625.18
$3,308.44
$4,644.57
$1,200.86
$2,046.52
$2,490.14
$315.44
$1,597.93
$658.56
$548.94
$605.68
$535.79
$2,334.91
$2,221.70
$193.17
$794.04
$662.07
$778.56
$1,877.81
$312.56
$1,737.51
$964.03
$673.81
$504.58
$229.78
$4,466.78
$68.07
$4,179.74

$0.61
$0.81
$0.95
$1.00
$0.79
$0.67
$0.65
$0.82
$0.75
$0.99
$1.33
$0.66
$1.08
$0.89
$0.95
$0.65
$0.93
$1.02
$0.60
$0.93
$0.86
$0.99
$0.48
$0.66
$1.13
$0.76
$1.15
$0.65
$0.62
$0.93
$1.16
$0.82
$0.98
$0.87
$0.56
$0.98

$0.49
$0.61
$0.70
$0.54
$0.53
$0.40
$0.53
$0.46
$0.54
$0.81
$0.56
$0.54
$0.54
$0.65
$0.53
$0.45
$0.66
$0.70
$0.43
$0.70
$0.53
$0.56
$0.39
$0.43
$0.54
$0.59
$0.49
$0.50
$0.50
$0.44
$0.54
$0.41
$0.43
$0.42
$0.62
$0.44

10.00%
10.00%
10.00%
10.00%
2.40%
10.00%
8.66%
10.00%
1.12%
-3.33%
-4.40%
-0.26%
6.29%
-2.46%
10.00%
1.67%
9.66%
10.00%
2.41%
10.00%
-3.28%
10.00%
8.81%
2.56%
10.00%
2.19%
10.00%
4.84%
2.02%
5.86%
10.00%
9.51%
10.00%
-8.40%
4.71%
-1.91%

Page 7

-8.15%
-3.10%
6.98%
4.85%
9.89%
-10.48%
6.79%
-3.34%
-4.35%
1.60%
6.40%
0.91%
-8.09%
1.76%
5.03%
-8.71%
1.23%
5.57%
-0.71%
3.59%
4.52%
-11.20%
-5.86%
-1.97%
2.61%
8.88%
-9.85%
4.15%
-9.18%
-2.19%
3.50%
-3.98%
6.54%
3.09%
10.00%
-13.21%

2650.97
1594.74
0.00
0.00
1375.55
3356.30
0.00
1100.72
3520.95
7053.31
10274.31
2532.28
4638.28
5262.80
0.00
4165.74
1060.75
721.64
1329.38
768.84
5157.00
6419.25
896.96
1701.92
949.23
1440.44
4774.42
0.00
4682.86
1799.02
935.26
1109.13
0.00
12118.27
0.00
11560.98

1347.04
1029.40
0.00
0.00
967.80
1596.07
0.00
698.75
2222.56
4485.20
6364.80
1633.05
2810.60
3371.02
0.00
2323.51
812.15
634.97
841.22
637.21
3209.09
3303.68
0.00
1088.77
785.47
1011.06
2667.82
0.00
2553.01
1250.69
791.28
691.32
0.00
6562.27
0.00
6135.66

874.81
766.55
0.00
0.00
746.00
1005.81
0.00
0.00
1625.18
3308.44
4644.57
1200.86
2046.52
2490.14
0.00
1597.93
658.56
0.00
605.68
0.00
2334.91
2221.70
0.00
794.04
662.07
778.56
1877.81
0.00
1737.51
964.03
673.81
0.00
0.00
4466.78
0.00
4179.74

1513.38
1089.90
0.00
0.00
1004.99
1830.06
0.00
639.39
2362.76
4763.47
6802.66
1726.46
3023.32
3573.20
0.00
2546.84
831.15
525.31
891.75
536.10
3423.84
3710.40
179.39
1152.45
793.54
1050.43
2931.14
0.00
2815.88
1303.02
796.58
636.62
0.00
7254.37
0.00
6829.54

Simulation results

$3,451.72
$2,947.64
$9,034.94
$2,383.72
$110.71
$5,649.40
$2,333.15
$834.58
$3,125.85
$1,905.20
$544.56
$(444.83)
$1,029.98
$3,562.57
$1,762.77
$2,460.34
$4,419.14
$1,642.82
$12,838.66
$57.39
$9,579.58
$2,904.69
$906.91
$2,870.95
$3,063.10
$3,281.12
$4,585.43
$1,851.62
$329.55
$561.58
$(528.33)
$7,067.63
$1,840.46
$(281.33)
$18,468.16
$4,288.08

$2,149.18
$1,773.93
$4,591.81
$1,674.15
$116.17
$3,465.72
$1,551.53
$687.93
$1,904.54
$1,184.53
$526.99
$(299.58)
$669.96
$2,157.72
$1,159.61
$1,677.11
$2,710.81
$1,140.34
$6,530.06
$62.51
$5,059.79
$2,151.86
$767.88
$2,104.71
$2,056.92
$2,256.70
$2,583.45
$1,318.91
$266.81
$497.46
$(355.58)
$3,568.53
$1,266.57
$(151.53)
$9,705.25
$2,056.88

$1,561.04
$1,262.66
$2,994.47
$1,304.43
$103.02
$2,550.21
$1,161.32
$578.24
$1,383.40
$852.03
$474.29
$(231.54)
$487.96
$1,548.31
$860.23
$1,277.60
$1,951.87
$887.02
$4,314.93
$54.62
$3,428.36
$1,729.15
$654.87
$1,667.35
$1,575.98
$1,727.70
$1,767.76
$1,034.54
$219.43
$430.12
$(273.10)
$2,338.11
$978.22
$(99.93)
$6,524.77
$1,316.54

$0.73
$0.66
$0.46
$1.10
$0.73
$1.33
$0.75
$1.07
$0.89
$0.63
$1.12
$0.65
$0.47
$0.78
$0.72
$0.84
$0.73
$1.06
$0.67
$0.79
$0.85
$1.43
$1.26
$1.15
$1.17
$0.90
$0.58
$1.01
$0.81
$0.95
$0.67
$0.56
$0.96
$0.71
$0.99
$0.72

$0.62
$0.48
$0.43
$0.54
$0.56
$0.79
$0.50
$0.52
$0.55
$0.49
$0.61
$0.41
$0.72
$0.39
$0.40
$0.66
$0.52
$0.50
$0.74
$0.36
$0.41
$0.81
$0.35
$0.61
$0.72
$0.72
$0.33
$0.60
$0.49
$0.64
$0.41
$0.44
$0.66
$0.60
$0.43
$0.36

-2.57%
2.03%
-8.32%
7.15%
10.00%
10.00%
0.43%
10.00%
7.39%
-0.98%
9.78%
10.00%
2.91%
1.60%
2.60%
0.47%
-3.32%
10.00%
-10.31%
10.00%
-1.60%
10.00%
10.00%
2.99%
10.00%
2.36%
-5.04%
8.49%
10.00%
10.00%
10.00%
-1.28%
10.00%
10.00%
-9.77%
7.80%

Page 8

10.00%
-5.66%
-9.58%
-2.87%
3.97%
-7.49%
3.33%
2.37%
-6.48%
10.00%
10.00%
7.15%
1.80%
-6.98%
-1.31%
10.00%
2.10%
-3.08%
7.87%
1.83%
-12.78%
-1.40%
1.95%
5.49%
-4.18%
-0.69%
-2.99%
-1.70%
1.94%
4.93%
10.00%
-11.86%
-2.36%
10.00%
-2.39%
-11.75%

3451.72
2947.64
9034.94
2383.72
0.00
5649.40
2333.15
834.58
3125.85
1905.20
0.00
0.00
1029.98
3562.57
1762.77
2460.34
4419.14
1642.82
12838.66
0.00
9579.58
2904.69
906.91
2870.95
3063.10
3281.12
4585.43
1851.62
0.00
0.00
0.00
7067.63
1840.46
0.00
18468.16
4288.08

2149.18
1773.93
4591.81
1674.15
0.00
3465.72
1551.53
687.93
1904.54
1184.53
0.00
0.00
669.96
2157.72
1159.61
1677.11
2710.81
1140.34
6530.06
0.00
5059.79
2151.86
767.88
2104.71
2056.92
2256.70
2583.45
1318.91
0.00
0.00
0.00
3568.53
1266.57
0.00
9705.25
2056.88

1561.04
1262.66
2994.47
1304.43
0.00
2550.21
1161.32
578.24
1383.40
852.03
0.00
0.00
0.00
1548.31
860.23
1277.60
1951.87
887.02
4314.93
0.00
3428.36
1729.15
654.87
1667.35
1575.98
1727.70
1767.76
1034.54
0.00
0.00
0.00
2338.11
978.22
0.00
6524.77
1316.54

2292.06
1906.42
5160.97
1742.12
0.00
3719.35
1629.81
695.32
2044.57
1262.17
0.00
0.00
607.97
2316.81
1220.37
1753.86
2900.69
1190.17
7348.76
0.00
5637.46
2217.88
773.08
2170.49
2161.97
2355.78
2820.71
1368.58
0.00
0.00
0.00
4022.26
1323.68
0.00
10821.73
2355.05

Simulation results

$4,043.67
$937.94
$6,128.24
$4,862.39
$890.29
$7,487.01
$347.38
$1,865.23
$2,080.43
$1,450.44
$1,932.11
$3,097.56
$2,219.17
$1,959.95
$28,360.39
$486.09
$(78.83)
$3,940.26
$5,892.05
$586.73
$7,943.48
$5,773.25
$(125.22)
$4,894.90
$1,962.74
$2,157.96
$5,385.04
$541.26
$7,071.45
$1,620.35
$773.83
$1,047.01
$391.17
$6,192.11
$4,104.50
$3,441.98

$2,701.92
$595.29
$4,070.15
$3,240.63
$763.76
$4,041.98
$328.06
$999.98
$1,386.49
$798.66
$1,394.07
$1,964.53
$1,678.38
$1,343.13
$11,998.13
$350.32
$(15.06)
$2,727.05
$3,617.17
$414.62
$3,890.26
$3,088.83
$(54.31)
$3,094.25
$1,305.23
$1,547.41
$3,082.81
$453.37
$3,927.40
$960.13
$594.41
$757.82
$346.25
$3,875.78
$2,390.62
$2,337.60

$2,037.06
$430.46
$3,069.22
$2,449.63
$652.72
$2,761.05
$288.77
$670.35
$1,038.52
$542.10
$1,092.31
$1,433.91
$1,350.47
$1,034.63
$7,374.66
$268.12
$2.14
$2,097.32
$2,626.13
$320.51
$2,536.02
$2,098.16
$(31.64)
$2,304.24
$983.28
$1,209.23
$2,172.48
$379.45
$2,694.27
$688.46
$481.75
$591.71
$297.41
$2,828.51
$1,680.12
$1,782.21

$0.84
$0.67
$1.07
$1.09
$1.07
$0.76
$0.79
$0.71
$0.73
$0.72
$0.86
$0.77
$1.12
$1.02
$0.83
$0.61
$0.72
$1.00
$0.97
$0.76
$0.79
$0.72
$0.67
$1.29
$0.84
$1.01
$0.84
$0.83
$0.65
$0.91
$0.86
$0.80
$0.84
$0.74
$0.67
$1.04

$0.77
$0.40
$0.87
$0.71
$0.63
$0.56
$0.73
$0.35
$0.52
$0.42
$0.67
$0.34
$0.64
$0.48
$0.46
$0.59
$0.53
$0.79
$0.48
$0.54
$0.65
$0.57
$0.57
$0.43
$0.49
$0.42
$0.87
$0.58
$0.48
$0.36
$0.62
$0.48
$0.62
$0.91
$0.49
$0.48

-0.12%
5.88%
0.29%
-1.25%
8.64%
1.08%
7.60%
7.89%
0.51%
10.00%
4.64%
-0.85%
5.08%
8.04%
-5.76%
4.35%
10.00%
0.43%
0.32%
10.00%
10.00%
4.48%
10.00%
5.16%
5.79%
2.58%
10.00%
7.41%
-3.51%
10.00%
10.00%
3.47%
9.88%
-1.99%
1.24%
3.01%

Page 9

0.22%
-2.02%
-2.83%
10.00%
6.57%
-10.78%
10.00%
-7.63%
5.14%
-5.91%
1.32%
-0.89%
3.42%
-3.48%
-18.71%
6.74%
5.67%
3.75%
-7.60%
0.16%
-11.77%
-10.05%
5.79%
-8.39%
-3.20%
7.46%
-7.59%
6.06%
-9.17%
-6.38%
1.42%
10.00%
4.29%
-3.67%
-7.44%
-3.33%

4043.67
937.94
6128.24
4862.39
890.29
7487.01
0.00
1865.23
2080.43
1450.44
1932.11
3097.56
2219.17
1959.95
28360.39
0.00
0.00
3940.26
5892.05
0.00
7943.48
5773.25
0.00
4894.90
1962.74
2157.96
5385.04
0.00
7071.45
1620.35
773.83
1047.01
0.00
6192.11
4104.50
3441.98

2701.92
595.29
4070.15
3240.63
763.76
4041.98
0.00
999.98
1386.49
798.66
1394.07
1964.53
1678.38
1343.13
11998.13
0.00
0.00
2727.05
3617.17
0.00
3890.26
3088.83
0.00
3094.25
1305.23
1547.41
3082.81
0.00
3927.40
960.13
594.41
757.82
0.00
3875.78
2390.62
2337.60

2037.06
0.00
3069.22
2449.63
652.72
2761.05
0.00
670.35
1038.52
0.00
1092.31
1433.91
1350.47
1034.63
7374.66
0.00
0.00
2097.32
2626.13
0.00
2536.02
2098.16
0.00
2304.24
983.28
1209.23
2172.48
0.00
2694.27
688.46
0.00
591.71
0.00
2828.51
1680.12
1782.21

2837.30
544.76
4281.58
3406.78
766.86
4474.80
0.00
1107.11
1455.68
769.28
1441.33
2085.01
1720.96
1404.79
14345.89
0.00
0.00
2843.75
3873.94
0.00
4430.06
3427.58
0.00
3296.38
1372.34
1601.88
3361.19
0.00
4309.58
1037.84
511.41
782.44
0.00
4129.59
2591.30
2447.40

Simulation results

$29,087.73
$8,341.96
$989.00
$3,042.08
$3,427.12
$4,512.60
$(246.68)
$2,960.07
$1,182.95
$4,603.20
$(5.54)
$503.26
$(34.67)
$2,114.11
$4,841.11
$3,140.12
$(153.08)
$(43.16)
$439.47
$7,383.52
$2,460.43
$6,625.65
$723.19
$2,789.34
$(8.83)
$433.11
$4,841.35
$406.87
$306.91
$847.73
$9,030.84
$5,384.53
$1,529.64
$3,696.37
$6,861.01
$1,261.47

$12,605.41
$4,551.10
$804.09
$2,233.18
$1,540.44
$2,081.34
$(142.72)
$2,027.95
$956.33
$3,563.67
$(33.86)
$496.93
$28.65
$1,166.69
$2,039.12
$1,849.23
$(89.66)
$23.71
$299.30
$4,507.41
$1,215.96
$3,908.51
$387.19
$1,828.34
$73.66
$420.31
$2,793.29
$309.29
$219.74
$747.33
$4,966.11
$3,091.78
$1,060.94
$2,511.75
$3,097.46
$686.83

$7,683.44
$3,095.55
$672.20
$1,773.24
$926.77
$1,288.22
$(101.35)
$1,551.58
$797.87
$2,913.29
$(45.12)
$450.73
$42.09
$793.56
$1,205.22
$1,292.86
$(67.43)
$38.75
$220.03
$3,253.35
$776.90
$2,763.04
$252.14
$1,359.38
$91.27
$377.09
$1,945.36
$244.56
$167.41
$647.85
$3,400.38
$2,166.42
$821.95
$1,910.48
$1,925.90
$457.32

$0.57
$0.72
$1.09
$1.18
$0.53
$0.58
$0.74
$0.91
$1.12
$2.04
$0.54
$1.14
$0.68
$0.64
$0.62
$0.61
$0.61
$0.77
$0.56
$0.91
$0.64
$0.79
$0.67
$0.81
$0.82
$1.02
$0.63
$0.75
$0.60
$1.13
$0.73
$0.72
$0.94
$0.89
$0.59
$0.60

$0.35
$0.37
$0.57
$0.76
$0.41
$0.46
$0.40
$0.67
$0.66
$0.67
$0.53
$0.58
$0.69
$0.56
$0.28
$0.34
$0.55
$0.51
$0.57
$0.63
$0.42
$0.41
$0.36
$0.41
$0.66
$0.58
$0.45
$0.43
$0.68
$0.69
$0.46
$0.55
$0.61
$0.74
$0.27
$0.50

-13.99%
-7.52%
10.00%
2.53%
10.00%
10.00%
10.00%
3.94%
10.00%
4.83%
10.00%
10.00%
9.75%
10.00%
7.51%
-1.34%
8.89%
8.51%
5.62%
-4.50%
10.00%
-3.80%
9.27%
0.74%
10.00%
10.00%
-2.24%
7.55%
10.00%
10.00%
-4.40%
0.99%
10.00%
1.07%
0.81%
10.00%

Page 10

-15.53%
3.89%
2.23%
10.00%
-10.69%
-11.23%
6.08%
-1.96%
2.46%
9.13%
1.32%
10.00%
7.25%
-6.04%
-14.03%
-5.20%
5.66%
10.00%
2.91%
0.65%
-8.74%
-6.30%
-4.22%
-1.37%
10.00%
7.10%
-7.09%
2.32%
2.17%
6.08%
-10.21%
-8.48%
-2.01%
-0.21%
-14.91%
-4.67%

29087.73
8341.96
989.00
3042.08
3427.12
4512.60
0.00
2960.07
1182.95
4603.20
0.00
0.00
0.00
2114.11
4841.11
3140.12
0.00
0.00
0.00
7383.52
2460.43
6625.65
723.19
2789.34
0.00
0.00
4841.35
0.00
0.00
847.73
9030.84
5384.53
1529.64
3696.37
6861.01
1261.47

12605.41
4551.10
804.09
2233.18
1540.44
2081.34
0.00
2027.95
956.33
3563.67
0.00
0.00
0.00
1166.69
2039.12
1849.23
0.00
0.00
0.00
4507.41
1215.96
3908.51
0.00
1828.34
0.00
0.00
2793.29
0.00
0.00
747.33
4966.11
3091.78
1060.94
2511.75
3097.46
686.83

7683.44
3095.55
672.20
1773.24
926.77
1288.22
0.00
1551.58
797.87
2913.29
0.00
0.00
0.00
793.56
1205.22
1292.86
0.00
0.00
0.00
3253.35
776.90
2763.04
0.00
1359.38
0.00
0.00
1945.36
0.00
0.00
647.85
3400.38
2166.42
821.95
1910.48
1925.90
0.00

14917.48
5018.16
814.70
2302.97
1795.04
2408.97
0.00
2119.10
969.97
3641.50
0.00
0.00
0.00
1281.55
2432.74
1996.14
0.00
0.00
0.00
4831.82
1377.04
4222.84
144.64
1926.75
0.00
0.00
3033.32
0.00
0.00
747.52
5465.91
3365.26
1106.88
2628.42
3615.86
664.39

Simulation results

$1,592.32
$1,868.51
$131,593.08
$4,887.04
$262.34
$3,640.89
$2,315.34
$2,454.60
$1,973.51
$1,190.75
$625.79
$(75.42)
$3,514.44
$709.05
$20.30
$1,624.80
$(160.27)
$(262.20)
$8,117.40
$17,040.64
$1,793.11
$553.46
$528.16
$1,824.05
$4,271.70
$491.05
$759.69
$4,397.28
$1,070.58
$14,013.83
$(455.48)
$5,599.02
$469.45
$(129.86)
$112.70
$1,936.39

$856.66
$1,102.71
$28,061.22
$3,172.11
$297.90
$2,128.52
$1,621.14
$1,541.76
$1,368.53
$970.07
$443.47
$2.93
$2,121.66
$540.50
$97.68
$1,199.97
$(65.70)
$(135.61)
$4,447.78
$8,881.57
$1,283.47
$482.52
$471.93
$1,234.79
$2,747.11
$382.43
$693.61
$3,082.01
$687.21
$7,425.41
$(352.98)
$3,503.83
$468.91
$(65.75)
$81.35
$1,105.50

$577.01
$779.27
$12,123.90
$2,357.93
$281.80
$1,520.49
$1,250.04
$1,119.96
$1,048.12
$809.68
$342.25
$23.83
$1,526.86
$432.46
$111.61
$950.47
$(33.61)
$(86.30)
$3,022.75
$6,016.21
$1,002.91
$414.43
$409.25
$944.18
$2,042.92
$307.49
$610.45
$2,386.83
$507.31
$5,003.07
$(294.98)
$2,556.87
$426.86
$(45.17)
$56.37
$753.61

$0.77
$0.67
$0.45
$0.94
$1.09
$0.96
$0.81
$0.69
$0.79
$1.10
$0.72
$0.80
$0.79
$0.74
$0.79
$0.88
$0.73
$0.83
$0.61
$1.07
$0.89
$0.99
$0.92
$0.88
$1.02
$0.71
$1.14
$1.09
$0.76
$0.84
$0.54
$0.83
$1.04
$0.64
$0.56
$0.55

$0.36
$0.63
$0.23
$0.55
$0.41
$0.59
$0.70
$0.46
$0.57
$0.59
$0.57
$0.47
$0.56
$0.63
$0.76
$0.62
$0.54
$0.38
$0.46
$0.88
$0.60
$0.52
$0.67
$0.70
$0.47
$0.60
$0.70
$0.87
$0.49
$0.47
$0.36
$0.65
$0.74
$0.53
$0.55
$0.35

10.00%
10.00%
9.45%
-1.70%
10.00%
10.00%
1.69%
2.13%
1.70%
8.02%
9.10%
8.90%
4.85%
4.53%
10.00%
4.24%
10.00%
10.00%
-6.97%
-0.08%
5.85%
10.00%
10.00%
10.00%
2.64%
4.99%
9.23%
1.56%
9.20%
-9.28%
10.00%
-3.31%
10.00%
7.22%
6.34%
1.55%

Page 11

-7.09%
-4.52%
-29.74%
1.21%
10.00%
-7.46%
4.39%
-3.88%
5.05%
4.46%
0.56%
10.00%
-6.54%
10.00%
10.00%
4.15%
7.52%
10.00%
-6.22%
-12.72%
-0.16%
3.73%
5.21%
-2.30%
-6.14%
10.00%
10.00%
0.89%
-2.64%
-0.29%
2.30%
1.16%
10.00%
10.00%
4.87%
-5.36%

1592.32
1868.51
131593.08
4887.04
0.00
3640.89
2315.34
2454.60
1973.51
1190.75
625.79
0.00
3514.44
709.05
0.00
1624.80
0.00
0.00
8117.40
17040.64
1793.11
0.00
0.00
1824.05
4271.70
0.00
759.69
4397.28
1070.58
14013.83
0.00
5599.02
0.00
0.00
0.00
1936.39

856.66
1102.71
28061.22
3172.11
0.00
2128.52
1621.14
1541.76
1368.53
970.07
0.00
0.00
2121.66
0.00
0.00
1199.97
0.00
0.00
4447.78
8881.57
1283.47
0.00
0.00
1234.79
2747.11
0.00
693.61
3082.01
687.21
7425.41
0.00
3503.83
0.00
0.00
0.00
1105.50

577.01
779.27
12123.90
2357.93
0.00
1520.49
1250.04
1119.96
1048.12
809.68
0.00
0.00
1526.86
0.00
0.00
950.47
0.00
0.00
3022.75
6016.21
1002.91
0.00
0.00
944.18
2042.92
0.00
610.45
2386.83
0.00
5003.07
0.00
2556.87
0.00
0.00
0.00
753.61

947.87
1191.18
45580.13
3352.26
0.00
2309.39
1685.76
1639.97
1425.45
982.13
125.16
0.00
2281.26
141.81
0.00
1235.03
0.00
0.00
4896.69
9940.32
1329.29
0.00
0.00
1294.52
2911.19
0.00
690.20
3206.03
626.44
8258.62
0.00
3733.47
0.00
0.00
0.00
1201.30

Simulation results

$365.50
$2,398.25
$2,897.71
$3,444.30
$(368.24)
$4,004.82
$(530.46)
$5,955.37
$3,752.75
$183.62
$(43.93)
$1,600.29
$447.54
$332.20
$897.11
$1,601.90
$2,919.46
$676.15
$986.04
$2,749.73
$117.75
$10,433.74
$4,147.91
$45.92
$2,035.97
$(85.69)
$1,395.68
$7,452.60
$7,101.77
$(148.40)
$1,559.06
$799.84
$8,213.23
$10,135.38
$3,023.63
$2,264.00

$344.68
$1,441.20
$1,526.00
$1,723.45
$(241.63)
$2,442.53
$(449.56)
$3,621.93
$1,614.47
$175.73
$7.85
$966.71
$245.87
$339.35
$666.98
$1,059.80
$1,687.12
$579.08
$850.92
$1,793.12
$143.28
$6,633.44
$2,503.56
$40.95
$1,526.27
$10.11
$1,115.39
$3,748.25
$3,547.45
$(41.68)
$1,012.95
$542.73
$4,475.50
$5,099.59
$1,600.09
$1,388.71

$303.65
$1,016.29
$1,023.40
$1,092.91
$(184.99)
$1,771.42
$(390.14)
$2,601.18
$960.92
$153.62
$19.01
$676.73
$153.64
$309.37
$528.89
$791.03
$1,169.63
$494.10
$731.38
$1,350.80
$134.19
$4,900.83
$1,783.11
$29.03
$1,221.74
$37.28
$922.11
$2,509.26
$2,306.77
$(6.66)
$744.36
$406.24
$3,040.98
$3,375.72
$1,079.11
$995.95

$0.92
$0.62
$0.77
$0.37
$0.60
$0.93
$0.41
$0.82
$0.68
$0.81
$0.69
$0.64
$0.50
$0.93
$0.70
$0.66
$0.58
$0.98
$1.20
$1.00
$0.66
$1.47
$0.60
$0.56
$1.09
$0.76
$1.15
$1.15
$0.52
$0.77
$0.66
$0.63
$0.65
$0.77
$0.81
$0.67

$0.50
$0.35
$0.45
$0.48
$0.54
$0.39
$0.34
$0.48
$0.29
$0.47
$0.58
$0.21
$0.47
$0.66
$0.77
$0.62
$0.40
$0.63
$0.63
$0.71
$0.80
$0.52
$0.61
$0.62
$0.54
$0.71
$0.49
$0.49
$0.43
$0.62
$0.46
$0.56
$0.44
$0.44
$0.44
$0.43

8.90%
0.25%
10.00%
-7.33%
8.40%
3.13%
9.58%
-3.89%
10.00%
10.00%
10.00%
-0.23%
5.69%
10.00%
8.05%
5.36%
0.60%
10.00%
10.00%
10.00%
7.51%
-3.45%
-3.61%
5.15%
3.99%
10.00%
6.15%
10.00%
-1.97%
10.00%
0.61%
2.43%
-4.94%
-1.13%
10.00%
2.89%

Page 12

6.61%
-4.34%
-8.68%
6.01%
10.00%
-7.94%
0.46%
-1.22%
-12.77%
3.37%
5.42%
1.42%
-0.27%
7.64%
2.19%
-1.47%
-6.37%
4.12%
5.06%
-4.28%
10.00%
0.41%
-0.23%
10.00%
7.06%
10.00%
8.51%
-12.55%
-11.97%
10.00%
5.68%
9.97%
-9.78%
-13.55%
-8.93%
-4.71%

0.00
2398.25
2897.71
3444.30
0.00
4004.82
0.00
5955.37
3752.75
0.00
0.00
1600.29
0.00
0.00
897.11
1601.90
2919.46
676.15
986.04
2749.73
0.00
10433.74
4147.91
0.00
2035.97
0.00
1395.68
7452.60
7101.77
0.00
1559.06
799.84
8213.23
10135.38
3023.63
2264.00

0.00
1441.20
1526.00
1723.45
0.00
2442.53
0.00
3621.93
1614.47
0.00
0.00
966.71
0.00
0.00
666.98
1059.80
1687.12
579.08
850.92
1793.12
0.00
6633.44
2503.56
0.00
1526.27
0.00
1115.39
3748.25
3547.45
0.00
1012.95
0.00
4475.50
5099.59
1600.09
1388.71

0.00
1016.29
1023.40
1092.91
0.00
1771.42
0.00
2601.18
960.92
0.00
0.00
676.73
0.00
0.00
0.00
791.03
1169.63
0.00
731.38
1350.80
0.00
4900.83
1783.11
0.00
1221.74
0.00
922.11
2509.26
2306.77
0.00
744.36
0.00
3040.98
3375.72
1079.11
995.95

0.00
1547.63
1699.82
1941.51
0.00
2620.77
0.00
3884.47
1911.42
0.00
0.00
1035.43
0.00
0.00
579.61
1114.46
1830.09
482.68
854.03
1895.97
0.00
7046.98
2688.34
0.00
1567.30
0.00
1132.79
4241.32
4010.18
0.00
1068.45
159.97
4936.14
5761.98
1780.60
1485.22

Simulation results

$10,611.48
$313.06
$1,369.65
$668.48
$1,519.26
$289.93
$343.18
$1,231.64
$5,220.24
$22,431.96
$2,097.20
$908.57
$418.58
$4,733.48
$5,233.02
$2,183.45
$2,370.73
$691.01
$11,382.58
$8,731.80
$9,032.13
$4,646.03
$8,322.24
$2,554.23
$345.00
$221.76
$5,851.87
$(94.63)
$(276.53)
$911.86
$2,537.73
$2,730.96
$836.74
$384.73
$2,461.70
$1,103.10

$6,182.00
$338.93
$1,109.11
$633.47
$1,151.34
$310.66
$42.67
$840.00
$3,251.53
$11,013.65
$1,518.21
$686.73
$321.35
$2,982.94
$3,146.91
$1,467.77
$1,348.09
$494.45
$6,187.09
$5,328.10
$3,965.34
$2,299.43
$3,692.59
$1,624.73
$245.61
$234.61
$3,191.43
$2.90
$(169.61)
$749.38
$1,313.51
$1,541.24
$615.75
$398.68
$1,674.30
$737.28

$4,374.55
$316.17
$923.69
$566.67
$935.15
$287.98
$(48.46)
$636.44
$2,362.39
$7,171.82
$1,191.72
$547.92
$258.21
$2,188.56
$2,251.90
$1,126.15
$923.45
$379.80
$4,205.70
$3,849.73
$2,446.25
$1,462.19
$2,268.96
$1,206.70
$185.08
$214.10
$2,162.06
$31.32
$(125.10)
$629.19
$859.57
$1,073.75
$488.81
$367.02
$1,288.94
$555.34

$1.06
$1.02
$1.07
$1.22
$1.24
$1.06
$0.45
$0.70
$0.83
$0.86
$0.86
$0.84
$0.78
$0.85
$0.73
$1.13
$0.53
$0.71
$0.79
$0.96
$0.79
$0.40
$0.54
$0.94
$0.63
$0.79
$0.60
$0.93
$0.72
$1.07
$0.57
$0.80
$0.84
$0.78
$1.08
$0.73

$0.67
$0.59
$0.76
$0.60
$0.46
$0.40
$0.36
$0.58
$0.49
$0.53
$0.74
$0.45
$0.53
$0.73
$0.63
$0.51
$0.48
$0.43
$0.37
$0.75
$0.46
$0.48
$0.47
$0.57
$0.52
$0.68
$0.48
$0.35
$0.38
$0.58
$0.48
$0.46
$0.59
$1.16
$0.68
$0.61

-6.33%
10.00%
6.17%
10.00%
10.00%
10.00%
10.00%
6.16%
-2.52%
-11.82%
2.95%
4.78%
10.00%
-2.97%
0.07%
10.00%
2.58%
4.72%
-7.64%
-4.85%
10.00%
-8.44%
5.38%
8.52%
4.16%
8.11%
-6.90%
10.00%
10.00%
10.00%
7.77%
8.35%
10.00%
10.00%
10.00%
9.03%

Page 13

9.54%
9.83%
10.00%
10.00%
-1.36%
7.62%
-4.85%
-0.50%
-2.51%
-0.10%
4.62%
7.46%
1.54%
10.00%
-6.61%
-4.41%
-5.79%
3.94%
-7.74%
-0.20%
-14.41%
7.24%
-13.83%
-5.12%
10.00%
10.00%
7.41%
10.00%
5.67%
2.64%
-7.84%
-7.66%
0.36%
10.00%
-3.39%
-1.33%

10611.48
0.00
1369.65
668.48
1519.26
0.00
0.00
1231.64
5220.24
22431.96
2097.20
908.57
0.00
4733.48
5233.02
2183.45
2370.73
691.01
11382.58
8731.80
9032.13
4646.03
8322.24
2554.23
0.00
0.00
5851.87
0.00
0.00
911.86
2537.73
2730.96
836.74
0.00
2461.70
1103.10

6182.00
0.00
1109.11
633.47
1151.34
0.00
0.00
840.00
3251.53
11013.65
1518.21
686.73
0.00
2982.94
3146.91
1467.77
1348.09
0.00
6187.09
5328.10
3965.34
2299.43
3692.59
1624.73
0.00
0.00
3191.43
0.00
0.00
749.38
1313.51
1541.24
615.75
0.00
1674.30
737.28

4374.55
0.00
923.69
566.67
935.15
0.00
0.00
636.44
2362.39
7171.82
1191.72
0.00
0.00
2188.56
2251.90
1126.15
923.45
0.00
4205.70
3849.73
2446.25
1462.19
2268.96
1206.70
0.00
0.00
2162.06
0.00
0.00
629.19
859.57
1073.75
0.00
0.00
1288.94
555.34

6706.41
0.00
1124.13
627.11
1181.68
0.00
0.00
877.62
3467.45
12528.95
1568.71
593.76
0.00
3174.17
3385.13
1542.58
1467.69
138.20
6829.91
5713.17
4674.88
2601.30
4333.79
1727.03
0.00
0.00
3517.64
0.00
0.00
757.83
1467.56
1685.68
536.80
0.00
1754.71
774.06

Simulation results

$4,749.56
$1,507.85
$2,051.30
$420.89
$1,737.63
$1,203.42
$14,372.81
$6,754.91
$1,542.14
$370.37
$3,171.49
$6,993.24
$8,303.23
$559.14
$58,250.63
$314.64
$6,130.43
$2,842.89
$1,910.43
$2,145.74
$3,277.37
$626.42
$2,319.49
$21,300.69
$7,483.41
$2,917.78
$1,933.15
$2,272.64
$(339.50)
$2,966.83
$7,122.49
$2,589.15
$998.33
$11,331.08
$6,242.85
$229.15

$2,915.57
$863.57
$1,239.46
$160.84
$1,137.02
$733.37
$6,535.99
$3,388.09
$1,071.89
$387.14
$1,777.57
$3,535.20
$4,913.58
$510.22
$24,531.87
$341.06
$3,636.45
$1,697.46
$1,339.17
$1,343.20
$2,310.08
$598.53
$1,299.34
$9,441.02
$4,422.57
$1,834.90
$1,426.20
$1,601.13
$(207.33)
$2,081.57
$3,987.89
$1,606.11
$802.58
$4,832.18
$4,134.32
$228.13

$2,111.83
$599.25
$874.50
$70.54
$853.99
$515.72
$4,161.26
$2,235.89
$826.09
$357.55
$1,225.20
$2,351.42
$3,526.14
$446.60
$14,850.22
$318.39
$2,615.83
$1,193.75
$1,042.58
$968.52
$1,793.08
$536.82
$891.14
$5,820.54
$3,133.62
$1,350.43
$1,131.27
$1,245.23
$(150.89)
$1,637.89
$2,796.35
$1,154.19
$663.55
$2,942.37
$3,120.54
$202.95

$0.82
$0.70
$0.58
$0.63
$0.85
$0.56
$0.98
$0.78
$0.88
$1.11
$0.67
$0.92
$1.10
$0.98
$0.83
$1.06
$1.00
$0.53
$0.93
$0.57
$1.08
$1.01
$0.65
$0.58
$0.79
$0.90
$1.04
$1.01
$0.70
$1.52
$1.03
$0.64
$0.88
$0.75
$1.18
$0.83

$0.58
$0.50
$0.40
$0.31
$0.63
$0.46
$0.55
$0.56
$0.50
$0.48
$0.42
$0.59
$0.66
$0.63
$0.60
$0.54
$0.82
$0.53
$0.78
$0.55
$0.58
$0.97
$0.42
$0.41
$0.56
$0.48
$0.45
$0.54
$0.46
$0.48
$0.61
$0.42
$0.74
$0.48
$0.80
$0.50

1.32%
10.00%
0.97%
10.00%
10.00%
3.63%
5.18%
7.49%
6.88%
10.00%
3.92%
10.00%
1.66%
8.27%
-15.74%
10.00%
6.89%
-2.73%
10.00%
-0.99%
3.00%
10.00%
5.55%
-13.96%
-5.19%
5.53%
4.71%
5.96%
10.00%
10.00%
5.20%
-0.37%
5.93%
8.75%
1.76%
7.59%

Page 14

-6.45%
-4.99%
-3.51%
-4.69%
-3.07%
-2.06%
-15.38%
-11.51%
-1.75%
10.00%
-8.13%
-11.41%
-9.26%
10.00%
-15.68%
10.00%
-7.81%
0.21%
-1.42%
2.46%
-0.46%
10.00%
-7.05%
3.82%
-2.60%
-5.94%
1.79%
-2.01%
8.25%
-5.01%
-10.27%
-2.17%
8.58%
-15.35%
-4.47%
10.00%

4749.56
1507.85
2051.30
0.00
1737.63
1203.42
14372.81
6754.91
1542.14
0.00
3171.49
6993.24
8303.23
0.00
58250.63
0.00
6130.43
2842.89
1910.43
2145.74
3277.37
626.42
2319.49
21300.69
7483.41
2917.78
1933.15
2272.64
0.00
2966.83
7122.49
2589.15
998.33
11331.08
6242.85
0.00

2915.57
863.57
1239.46
0.00
1137.02
733.37
6535.99
3388.09
1071.89
0.00
1777.57
3535.20
4913.58
0.00
24531.87
0.00
3636.45
1697.46
1339.17
1343.20
2310.08
598.53
1299.34
9441.02
4422.57
1834.90
1426.20
1601.13
0.00
2081.57
3987.89
1606.11
802.58
4832.18
4134.32
0.00

2111.83
599.25
874.50
0.00
853.99
0.00
4161.26
2235.89
826.09
0.00
1225.20
2351.42
3526.14
0.00
14850.22
0.00
2615.83
1193.75
1042.58
968.52
1793.08
0.00
891.14
5820.54
3133.62
1350.43
1131.27
1245.23
0.00
1637.89
2796.35
1154.19
663.55
2942.37
3120.54
0.00

3121.62
939.56
1328.83
0.00
1200.54
680.71
7628.41
3831.02
1116.78
0.00
1945.88
3990.05
5314.02
0.00
29339.29
0.00
3931.12
1825.80
1394.11
1428.77
2400.14
484.40
1421.73
11088.86
4776.95
1954.58
1468.61
1664.25
0.00
2169.89
4376.50
1712.34
813.92
5754.00
4353.27
0.00

Simulation results

$21,019.50
$3,052.77
$1,114.65
$5,299.67
$391.34
$1,663.27
$5,757.36
$502.70
$7,321.54
$3,286.56
$457.64
$6,968.49
$(616.80)
$1,835.65
$403.72
$5,726.01
$3,976.28
$401.64
$120.80
$4,604.06
$9,470.22
$3,458.95
$3,252.49
$724.34
$2,538.84
$1,109.07
$2,517.93
$5,657.36
$(208.04)
$1,901.77
$6,850.78
$171.39
$5,877.21
$1,616.82
$13,977.92
$3,055.71

$10,830.22
$1,982.08
$818.54
$3,363.16
$308.64
$1,216.16
$3,423.70
$356.94
$4,076.30
$1,867.52
$353.78
$4,246.92
$(460.70)
$1,412.97
$230.16
$2,562.76
$2,326.70
$360.69
$153.80
$3,378.86
$6,246.64
$2,407.17
$2,282.69
$527.71
$1,376.90
$650.55
$1,722.88
$3,480.57
$(239.17)
$1,203.45
$3,270.49
$103.37
$3,840.17
$1,062.36
$8,547.10
$1,607.27

$7,216.85
$1,475.52
$648.14
$2,473.60
$247.93
$959.43
$2,425.95
$275.46
$2,791.28
$1,306.85
$286.42
$3,063.95
$(376.97)
$1,153.85
$154.86
$1,575.30
$1,632.43
$312.14
$147.23
$2,708.75
$4,704.12
$1,854.61
$1,766.34
$410.17
$922.55
$451.99
$1,324.59
$2,517.10
$(233.17)
$873.04
$2,100.65
$67.01
$2,867.59
$804.28
$6,197.23
$1,088.86

$0.97
$0.89
$0.80
$0.94
$0.79
$0.80
$0.78
$0.71
$0.65
$0.80
$0.85
$0.94
$0.47
$1.21
$0.72
$0.58
$0.68
$0.86
$0.86
$1.91
$1.49
$1.02
$1.07
$0.67
$0.53
$0.66
$1.04
$0.82
$0.41
$0.60
$0.78
$0.65
$1.05
$1.00
$1.46
$0.91

$0.52
$0.45
$0.72
$0.53
$0.35
$0.79
$0.35
$0.58
$0.40
$0.61
$0.46
$0.54
$0.42
$0.75
$0.37
$0.35
$0.37
$0.62
$0.50
$0.92
$0.83
$0.59
$0.50
$0.58
$0.49
$0.39
$0.54
$0.57
$0.39
$0.53
$0.53
$0.40
$0.61
$0.44
$0.65
$0.33

-10.53%
3.12%
8.84%
-2.73%
6.57%
2.91%
-3.97%
10.00%
-5.94%
10.00%
10.00%
-4.41%
8.91%
10.00%
10.00%
5.02%
-0.77%
10.00%
10.00%
10.00%
-0.67%
1.23%
2.15%
4.64%
4.90%
6.89%
6.81%
-3.80%
8.38%
-0.61%
10.00%
8.23%
-1.44%
10.00%
-5.06%
9.23%

Page 15

-3.60%
-4.71%
0.92%
4.52%
4.43%
7.80%
-3.95%
0.75%
-6.78%
-7.18%
0.93%
4.68%
5.86%
0.67%
-2.30%
-13.49%
-7.22%
4.54%
5.85%
-2.67%
-4.12%
2.51%
0.71%
5.02%
-7.02%
-4.14%
-3.55%
1.74%
-0.73%
5.00%
-12.17%
0.70%
-1.07%
-4.39%
-1.95%
-10.22%

21019.50
3052.77
1114.65
5299.67
0.00
1663.27
5757.36
0.00
7321.54
3286.56
0.00
6968.49
0.00
1835.65
0.00
5726.01
3976.28
0.00
0.00
4604.06
9470.22
3458.95
3252.49
724.34
2538.84
1109.07
2517.93
5657.36
0.00
1901.77
6850.78
0.00
5877.21
1616.82
13977.92
3055.71

10830.22
1982.08
818.54
3363.16
0.00
1216.16
3423.70
0.00
4076.30
1867.52
0.00
4246.92
0.00
1412.97
0.00
2562.76
2326.70
0.00
0.00
3378.86
6246.64
2407.17
2282.69
0.00
1376.90
650.55
1722.88
3480.57
0.00
1203.45
3270.49
0.00
3840.17
1062.36
8547.10
1607.27

7216.85
1475.52
648.14
2473.60
0.00
959.43
2425.95
0.00
2791.28
1306.85
0.00
3063.95
0.00
1153.85
0.00
1575.30
1632.43
0.00
0.00
2708.75
4704.12
1854.61
1766.34
0.00
922.55
0.00
1324.59
2517.10
0.00
873.04
2100.65
0.00
2867.59
804.28
6197.23
1088.86

12145.40
2094.91
843.68
3572.55
0.00
1254.24
3690.88
0.00
4468.34
2039.20
0.00
4554.64
0.00
1445.69
0.00
2997.92
2517.76
0.00
0.00
3489.88
6582.85
2507.02
2373.38
144.87
1518.42
612.14
1802.23
3723.24
0.00
1277.03
3752.58
0.00
4053.06
1121.64
9163.29
1793.28

Simulation results

$811.98
$42,294.39
$2,647.74
$235.48
$(234.74)
$3,476.49
$2,251.92
$536.83
$939.73
$1,911.20
$12,816.27
$3,138.46
$2,909.69
$6,951.48
$438.43
$8,697.55
$805.13
$9,541.34
$1,984.69
$422.64
$9,386.59
$980.22
$18,925.01
$1,050.83
$3,123.87
$11,707.27
$4,459.32
$1,459.49
$4,680.87
$(45.19)
$6,832.71
$6,577.21
$2,158.46
$557.51
$14,973.89
$691.16

$484.03
$17,595.26
$1,712.65
$273.04
$(112.99)
$2,125.08
$1,297.92
$513.60
$680.36
$1,199.02
$6,336.18
$2,094.96
$1,835.09
$4,258.60
$380.67
$4,177.66
$461.10
$5,253.66
$1,501.69
$335.02
$5,789.90
$879.17
$10,288.56
$919.60
$1,899.28
$6,138.09
$2,675.14
$966.82
$3,056.38
$28.21
$3,918.54
$4,298.65
$1,170.58
$341.18
$7,667.83
$652.15

$342.10
$10,570.04
$1,262.37
$259.40
$(67.16)
$1,526.78
$912.45
$459.65
$532.22
$878.94
$4,176.80
$1,575.30
$1,333.92
$3,085.06
$325.18
$2,711.78
$315.07
$3,614.33
$1,207.90
$271.56
$4,204.89
$769.69
$7,046.76
$795.96
$1,373.67
$4,103.69
$1,902.64
$719.28
$2,281.35
$45.49
$2,726.37
$3,219.03
$777.80
$244.54
$5,084.54
$582.46

$0.75
$0.63
$0.63
$1.03
$0.77
$0.71
$0.80
$1.04
$0.76
$0.85
$0.85
$0.71
$0.69
$0.98
$0.90
$0.81
$0.65
$0.67
$1.09
$0.74
$0.93
$1.30
$1.00
$1.22
$0.85
$0.73
$0.65
$0.67
$0.95
$0.71
$0.67
$1.21
$0.52
$0.80
$0.75
$1.16

$0.40
$0.47
$0.65
$0.49
$0.52
$0.55
$0.36
$0.70
$0.59
$0.37
$0.68
$0.80
$0.44
$0.67
$0.53
$0.44
$0.47
$0.83
$0.57
$0.55
$0.96
$0.65
$0.84
$0.75
$0.45
$0.35
$0.56
$0.53
$0.61
$0.70
$0.49
$0.65
$0.39
$0.33
$0.48
$0.73

10.00%
-16.42%
0.56%
10.00%
10.00%
-2.94%
7.00%
10.00%
7.45%
6.38%
2.43%
0.82%
-1.00%
-4.30%
10.00%
3.85%
10.00%
-1.07%
4.34%
8.18%
-3.85%
10.00%
-6.29%
10.00%
5.08%
-6.89%
-4.07%
0.94%
-1.75%
10.00%
-5.58%
-2.23%
2.81%
10.00%
-7.06%
10.00%

Page 16

-3.56%
-11.05%
-0.88%
9.36%
10.00%
10.00%
-7.48%
8.36%
0.95%
-5.47%
-13.28%
-0.14%
-0.28%
10.00%
3.43%
-13.78%
-3.09%
-9.69%
6.77%
3.21%
-3.91%
8.13%
-10.87%
6.64%
-6.88%
-11.87%
1.82%
7.89%
4.94%
7.84%
-4.23%
7.34%
-6.81%
-3.08%
-12.78%
10.00%

811.98
42294.39
2647.74
0.00
0.00
3476.49
2251.92
0.00
939.73
1911.20
12816.27
3138.46
2909.69
6951.48
0.00
8697.55
805.13
9541.34
1984.69
0.00
9386.59
980.22
18925.01
1050.83
3123.87
11707.27
4459.32
1459.49
4680.87
0.00
6832.71
6577.21
2158.46
0.00
14973.89
691.16

0.00
17595.26
1712.65
0.00
0.00
2125.08
1297.92
0.00
680.36
1199.02
6336.18
2094.96
1835.09
4258.60
0.00
4177.66
0.00
5253.66
1501.69
0.00
5789.90
879.17
10288.56
919.60
1899.28
6138.09
2675.14
966.82
3056.38
0.00
3918.54
4298.65
1170.58
0.00
7667.83
652.15

0.00
10570.04
1262.37
0.00
0.00
1526.78
912.45
0.00
0.00
878.94
4176.80
1575.30
1333.92
3085.06
0.00
2711.78
0.00
3614.33
1207.90
0.00
4204.89
769.69
7046.76
795.96
1373.67
4103.69
1902.64
719.28
2281.35
0.00
2726.37
3219.03
777.80
0.00
5084.54
582.46

162.40
21130.04
1809.61
0.00
0.00
2275.70
1411.63
0.00
596.16
1277.44
7200.32
2199.73
1949.78
4562.47
0.00
4788.46
161.03
5783.33
1539.53
0.00
6192.24
877.48
11367.49
921.12
2039.08
6845.04
2877.48
1015.85
3226.27
0.00
4262.94
4538.44
1289.60
0.00
8612.39
646.02

Simulation results

$638.43
$536.88
$5,856.76
$3,954.42
$772.88
$3,716.38
$5,617.58
$871.97
$(154.56)
$4,740.36
$4,514.65
$4,604.80
$23,905.44
$2,750.25
$1,101.93
$11,257.91
$317.69
$15,248.59
$20,180.47
$170.32
$6,617.88
$208.57
$0.94
$1,396.49
$8,921.90
$1,223.15
$389.04
$2,487.15
$426.10
$7,439.78
$1,937.47
$19,892.10
$11,175.61
$8,124.09
$8,343.88
$3,235.86

$525.07
$364.08
$3,283.11
$2,411.35
$614.13
$2,500.35
$2,937.12
$667.97
$(46.77)
$2,361.01
$3,009.07
$2,914.17
$12,275.90
$1,975.75
$847.79
$5,272.01
$267.12
$7,932.72
$10,410.95
$221.76
$4,021.67
$132.73
$52.86
$1,122.40
$5,495.55
$860.04
$232.59
$1,569.16
$356.12
$3,520.76
$1,441.44
$10,709.67
$6,653.71
$4,602.53
$4,947.84
$1,827.04

$439.72
$275.03
$2,254.02
$1,732.49
$504.15
$1,894.36
$1,936.24
$536.39
$(10.97)
$1,543.17
$2,267.59
$2,149.01
$8,251.89
$1,553.58
$684.99
$3,366.57
$221.36
$5,284.90
$6,928.60
$217.06
$2,966.90
$94.64
$60.73
$930.84
$3,993.99
$659.99
$156.41
$1,139.65
$296.00
$2,271.98
$1,160.88
$7,289.02
$4,753.40
$3,187.22
$3,514.83
$1,282.43

$0.96
$0.75
$0.62
$0.74
$0.93
$0.90
$0.55
$0.75
$0.76
$0.70
$1.08
$0.98
$1.33
$1.13
$0.89
$0.79
$0.68
$0.73
$0.94
$0.95
$1.71
$0.77
$0.79
$1.09
$1.06
$0.78
$0.57
$0.66
$0.78
$0.85
$1.29
$1.08
$0.96
$0.59
$0.83
$0.94

$0.51
$0.48
$0.42
$0.54
$0.47
$0.73
$0.33
$0.66
$0.62
$0.38
$0.40
$0.49
$0.51
$0.63
$0.56
$0.72
$0.66
$0.51
$0.41
$0.59
$0.64
$0.33
$0.49
$0.67
$0.72
$0.41
$0.48
$0.46
$0.52
$0.36
$0.55
$0.56
$0.89
$0.71
$0.61
$0.48

10.00%
10.00%
-6.22%
-3.27%
8.04%
-0.60%
-7.47%
5.50%
10.00%
5.22%
-0.16%
2.12%
-5.57%
5.97%
6.33%
10.00%
5.78%
-8.99%
-9.44%
10.00%
10.00%
10.00%
10.00%
7.34%
-2.05%
3.50%
7.20%
-1.12%
6.77%
5.18%
10.00%
-9.18%
-3.73%
-5.53%
-5.01%
10.00%

Page 17

2.27%
-0.62%
0.66%
10.00%
2.65%
5.52%
8.22%
5.50%
10.00%
-11.57%
-0.96%
-6.50%
-15.17%
-1.48%
3.64%
-13.10%
10.00%
-9.90%
-11.29%
10.00%
-9.24%
-0.94%
5.62%
4.96%
-6.55%
3.27%
0.14%
3.04%
6.99%
-14.10%
-1.72%
-5.88%
-7.06%
-6.56%
-4.14%
-8.28%

638.43
0.00
5856.76
3954.42
772.88
3716.38
5617.58
871.97
0.00
4740.36
4514.65
4604.80
23905.44
2750.25
1101.93
11257.91
0.00
15248.59
20180.47
0.00
6617.88
0.00
0.00
1396.49
8921.90
1223.15
0.00
2487.15
0.00
7439.78
1937.47
19892.10
11175.61
8124.09
8343.88
3235.86

0.00
0.00
3283.11
2411.35
614.13
2500.35
2937.12
667.97
0.00
2361.01
3009.07
2914.17
12275.90
1975.75
847.79
5272.01
0.00
7932.72
10410.95
0.00
4021.67
0.00
0.00
1122.40
5495.55
860.04
0.00
1569.16
0.00
3520.76
1441.44
10709.67
6653.71
4602.53
4947.84
1827.04

0.00
0.00
2254.02
1732.49
0.00
1894.36
1936.24
0.00
0.00
1543.17
2267.59
2149.01
8251.89
1553.58
684.99
3366.57
0.00
5284.90
6928.60
0.00
2966.90
0.00
0.00
930.84
3993.99
659.99
0.00
1139.65
0.00
2271.98
1160.88
7289.02
4753.40
3187.22
3514.83
1282.43

127.69
0.00
3592.02
2584.19
523.05
2622.36
3273.04
575.18
0.00
2673.31
3161.89
3099.26
13797.01
2046.22
866.06
6088.10
0.00
8866.33
11668.39
0.00
4329.96
0.00
0.00
1138.91
5880.51
892.65
0.00
1666.85
0.00
4054.81
1484.53
11862.02
7178.03
5023.78
5340.45
1999.88

Simulation results

$4,240.49
$9,159.80
$(290.83)
$7,274.40
$602.03
$740.34
$(68.12)
$10,546.57
$2,373.89
$1,645.72
$645.34
$773.33
$923.53
$5,426.73
$2,460.59
$1,498.94
$4,621.01
$5,381.41
$2,674.97
$1,754.52
$1,489.17
$2,262.48
$1,780.55
$6,899.09
$382.80
$(603.16)
$1,544.81
$(573.17)
$186.23
$8,436.47
$5,822.51
$2,180.81
$(15.14)
$1,234.25
$2,567.92
$(221.29)

$2,316.04
$5,145.07
$(159.34)
$3,870.23
$430.21
$489.06
$(33.48)
$4,472.25
$1,669.46
$1,144.20
$555.97
$381.81
$739.30
$3,164.00
$1,916.99
$1,242.07
$2,654.33
$3,730.82
$1,638.17
$1,152.35
$986.71
$1,275.31
$1,186.04
$3,909.95
$336.84
$(443.65)
$1,027.47
$(422.03)
$190.29
$4,632.66
$2,932.04
$1,377.13
$68.47
$735.42
$1,617.50
$(167.28)

$1,566.03
$3,568.33
$(106.51)
$2,643.09
$332.16
$364.83
$(26.28)
$2,692.55
$1,294.93
$877.61
$474.88
$232.00
$608.90
$2,229.99
$1,569.51
$1,051.12
$1,842.57
$2,875.16
$1,195.47
$871.23
$747.25
$863.89
$885.33
$2,752.25
$288.95
$(359.76)
$768.16
$(343.20)
$170.57
$3,204.71
$1,946.20
$1,018.01
$86.89
$512.57
$1,173.89
$(141.32)

$0.49
$0.82
$0.74
$0.98
$0.72
$0.71
$0.66
$0.62
$0.93
$0.82
$0.84
$0.58
$0.79
$0.71
$1.32
$1.48
$0.63
$1.23
$0.93
$0.98
$0.91
$0.54
$0.69
$1.00
$0.90
$0.49
$0.74
$0.51
$0.76
$0.88
$0.92
$0.88
$0.85
$0.59
$0.67
$0.52

$0.58
$0.50
$0.51
$0.73
$0.50
$0.56
$0.40
$0.52
$0.66
$0.51
$0.85
$0.43
$0.83
$0.58
$0.77
$0.45
$0.42
$0.79
$0.58
$0.50
$0.52
$0.39
$0.50
$0.51
$0.50
$0.46
$0.43
$0.40
$0.63
$0.74
$0.50
$0.61
$0.60
$0.43
$0.44
$0.56

0.97%
-3.46%
10.00%
10.00%
7.92%
10.00%
7.02%
10.00%
5.34%
1.88%
10.00%
10.00%
6.70%
0.07%
4.95%
10.00%
-5.06%
0.84%
10.00%
10.00%
10.00%
-3.24%
1.33%
2.98%
10.00%
9.78%
4.32%
7.74%
10.00%
3.56%
10.00%
10.00%
10.00%
4.81%
-1.16%
10.00%

Page 18

-7.95%
-9.98%
10.00%
-10.29%
0.86%
-0.94%
6.97%
-14.76%
-1.12%
10.00%
5.21%
-4.29%
5.96%
-7.77%
10.00%
2.09%
3.30%
0.32%
-5.85%
-4.12%
-3.26%
10.00%
2.44%
-10.45%
3.32%
5.92%
-1.80%
8.48%
5.10%
-10.26%
-11.44%
-4.50%
10.00%
-3.32%
2.62%
3.49%

4240.49
9159.80
0.00
7274.40
602.03
740.34
0.00
10546.57
2373.89
1645.72
645.34
773.33
923.53
5426.73
2460.59
1498.94
4621.01
5381.41
2674.97
1754.52
1489.17
2262.48
1780.55
6899.09
0.00
0.00
1544.81
0.00
0.00
8436.47
5822.51
2180.81
0.00
1234.25
2567.92
0.00

2316.04
5145.07
0.00
3870.23
0.00
0.00
0.00
4472.25
1669.46
1144.20
0.00
0.00
739.30
3164.00
1916.99
1242.07
2654.33
3730.82
1638.17
1152.35
986.71
1275.31
1186.04
3909.95
0.00
0.00
1027.47
0.00
0.00
4632.66
2932.04
1377.13
0.00
735.42
1617.50
0.00

1566.03
3568.33
0.00
2643.09
0.00
0.00
0.00
2692.55
1294.93
877.61
0.00
0.00
608.90
2229.99
1569.51
1051.12
1842.57
2875.16
1195.47
871.23
747.25
863.89
885.33
2752.25
0.00
0.00
768.16
0.00
0.00
3204.71
1946.20
1018.01
0.00
0.00
1173.89
0.00

2550.93
5632.67
0.00
4305.64
120.41
148.07
0.00
5331.17
1735.44
1191.18
129.07
154.67
750.07
3429.74
1956.21
1255.25
2885.31
3889.81
1756.99
1216.56
1039.31
1390.46
1244.80
4276.24
0.00
0.00
1079.07
0.00
0.00
5107.83
3312.96
1466.04
0.00
688.11
1718.86
0.00

Simulation results

$2,315.90
$41.23
$(79.87)
$5,826.80
$58.59
$940.34
$1,809.97
$3,566.39
$9,037.02
$6,959.84
$2,019.84
$595.54
$2,396.81
$164.71
$2,942.01
$3,085.02
$1,306.92
$6,758.21
$3,837.65
$711.18
$8,701.06
$1,307.80
$21,882.55
$1,171.08
$953.73
$21,748.98
$240.53
$750.51
$5,460.94
$4,244.10
$4,756.56
$2,714.32
$11,285.98
$448.86
$2,943.11
$216.33

$1,583.22
$36.77
$(15.64)
$3,421.76
$129.46
$672.20
$1,123.16
$2,105.84
$4,492.89
$3,770.05
$925.17
$395.50
$1,533.54
$45.63
$2,006.44
$1,864.83
$964.70
$3,876.03
$2,222.62
$483.12
$4,004.40
$742.70
$8,702.24
$787.95
$647.61
$7,796.52
$145.06
$576.75
$3,109.20
$2,770.32
$2,997.26
$1,808.96
$5,671.42
$327.84
$1,579.82
$259.64

$1,204.49
$27.15
$1.62
$2,443.54
$138.74
$526.29
$806.56
$1,479.45
$2,932.54
$2,600.33
$547.61
$297.94
$1,143.98
$2.20
$1,526.47
$1,331.74
$762.47
$2,715.06
$1,585.12
$368.75
$2,533.78
$497.34
$5,202.35
$589.73
$485.58
$4,394.91
$98.69
$462.94
$2,175.66
$2,065.42
$2,200.74
$1,358.31
$3,776.77
$256.57
$1,067.94
$249.08

$0.82
$0.66
$0.67
$0.99
$0.94
$0.84
$0.66
$0.55
$0.61
$1.03
$0.46
$0.85
$0.96
$0.60
$0.86
$0.68
$0.87
$0.74
$1.03
$0.86
$0.68
$0.50
$0.81
$0.69
$0.61
$0.65
$0.67
$0.78
$0.73
$0.94
$0.95
$0.71
$1.07
$0.73
$0.72
$0.83

$0.53
$0.50
$0.63
$0.41
$0.48
$0.59
$0.37
$0.57
$0.40
$0.73
$0.42
$0.35
$0.61
$0.39
$0.59
$0.46
$0.49
$0.60
$0.49
$0.39
$0.37
$0.39
$0.39
$0.46
$0.60
$0.32
$0.44
$0.54
$0.66
$0.51
$0.45
$0.70
$0.81
$0.56
$0.39
$0.88

2.63%
10.00%
10.00%
1.93%
10.00%
10.00%
2.66%
-4.01%
-3.02%
10.00%
8.33%
10.00%
10.00%
10.00%
1.28%
1.85%
4.11%
-0.71%
8.83%
10.00%
2.06%
2.05%
0.02%
4.42%
2.21%
1.77%
10.00%
5.54%
3.53%
-1.46%
0.89%
2.04%
10.00%
10.00%
6.58%
10.00%

Page 19

-0.35%
2.45%
6.15%
-9.79%
10.00%
-0.36%
-3.70%
2.13%
-13.21%
-9.97%
-8.29%
-2.38%
-4.71%
-1.76%
0.81%
-5.82%
5.80%
-8.70%
-8.57%
-2.03%
-14.67%
-3.28%
-19.04%
-0.18%
7.21%
-20.32%
-0.20%
5.86%
-8.39%
5.07%
-6.35%
-1.08%
-12.12%
1.12%
-8.89%
10.00%

2315.90
0.00
0.00
5826.80
0.00
940.34
1809.97
3566.39
9037.02
6959.84
2019.84
595.54
2396.81
0.00
2942.01
3085.02
1306.92
6758.21
3837.65
711.18
8701.06
1307.80
21882.55
1171.08
953.73
21748.98
0.00
750.51
5460.94
4244.10
4756.56
2714.32
11285.98
0.00
2943.11
0.00

1583.22
0.00
0.00
3421.76
0.00
672.20
1123.16
2105.84
4492.89
3770.05
925.17
0.00
1533.54
0.00
2006.44
1864.83
964.70
3876.03
2222.62
0.00
4004.40
742.70
8702.24
787.95
647.61
7796.52
0.00
576.75
3109.20
2770.32
2997.26
1808.96
5671.42
0.00
1579.82
0.00

1204.49
0.00
0.00
2443.54
0.00
0.00
806.56
1479.45
2932.54
2600.33
0.00
0.00
1143.98
0.00
1526.47
1331.74
762.47
2715.06
1585.12
0.00
2533.78
0.00
5202.35
589.73
0.00
4394.91
0.00
0.00
2175.66
2065.42
2200.74
1358.31
3776.77
0.00
1067.94
0.00

1654.01
0.00
0.00
3707.12
0.00
591.39
1197.20
2272.67
5089.65
4174.07
959.07
119.11
1628.28
0.00
2097.56
2002.25
992.70
4220.27
2418.13
142.24
4649.61
707.18
10638.32
824.93
579.31
9906.69
0.00
496.15
3392.84
2924.10
3189.81
1899.90
6415.40
0.00
1750.10
0.00

Simulation results

$13,528.24
$2,062.56
$2,075.14
$12,669.09
$786.04
$2,866.85
$3,295.86
$431.52
$407.61
$3,227.74
$6,039.39
$473.88
$1,530.61
$1,109.05
$6,325.99
$196.87
$2,666.98
$755.93
$2,634.67
$224.42
$694.01
$2,896.26
$13,186.24
$226.07
$2,872.31
$1,996.22
$9,376.40
$10,652.36
$4,881.15
$1,853.72
$(30.86)
$2,531.67
$3,592.01
$2,192.32
$5,387.33
$5,512.38

$7,831.34
$1,597.16
$1,443.15
$6,828.17
$530.43
$1,638.12
$2,095.95
$325.79
$126.01
$2,208.68
$3,876.24
$259.16
$829.31
$899.09
$3,450.21
$188.35
$1,881.70
$652.18
$1,584.57
$231.85
$451.52
$2,048.86
$6,522.03
$267.71
$1,723.25
$1,348.56
$5,365.13
$5,936.81
$2,375.15
$1,193.32
$(13.50)
$1,612.30
$2,070.03
$1,396.24
$2,960.09
$2,675.43

$5,519.03
$1,302.17
$1,108.88
$4,627.19
$402.19
$1,149.38
$1,567.57
$256.44
$31.21
$1,692.50
$2,868.06
$164.05
$561.44
$747.69
$2,380.11
$163.23
$1,458.26
$559.56
$1,124.65
$210.12
$336.34
$1,601.56
$4,272.33
$255.97
$1,215.01
$1,019.79
$3,778.88
$4,093.99
$1,528.32
$873.51
$(11.39)
$1,189.69
$1,433.19
$1,020.11
$2,056.71
$1,738.17

$1.05
$1.21
$0.86
$0.84
$0.79
$0.81
$1.18
$0.66
$0.52
$1.03
$1.02
$0.52
$0.79
$0.89
$0.89
$0.73
$0.90
$1.13
$0.62
$0.85
$0.83
$1.18
$0.77
$0.86
$0.63
$0.84
$0.98
$0.79
$0.68
$0.69
$0.71
$0.79
$0.56
$0.65
$0.99
$0.79

$0.71
$0.63
$0.53
$0.34
$0.49
$0.49
$0.58
$0.59
$0.37
$0.57
$0.56
$0.51
$0.35
$0.88
$0.64
$0.56
$0.68
$0.48
$0.48
$0.56
$0.38
$0.57
$0.34
$0.83
$0.32
$0.41
$0.63
$0.55
$0.49
$0.38
$0.41
$0.57
$0.45
$0.56
$0.48
$0.35

-5.29%
4.83%
3.92%
-7.71%
10.00%
8.39%
10.00%
7.36%
10.00%
4.23%
-2.37%
7.68%
10.00%
6.01%
6.87%
7.94%
2.05%
10.00%
2.12%
9.92%
10.00%
6.33%
-5.18%
10.00%
-2.19%
3.64%
-0.36%
-7.63%
9.35%
1.66%
10.00%
5.67%
-4.40%
-0.93%
6.79%
5.94%

Page 20

-8.12%
10.00%
-0.55%
-9.39%
-1.38%
-7.43%
-6.22%
3.20%
-4.21%
-3.12%
0.33%
-0.97%
-7.05%
9.15%
-9.90%
6.37%
3.06%
3.61%
-5.17%
5.58%
-2.57%
-2.74%
-14.93%
10.00%
-0.69%
-2.06%
-10.09%
-2.21%
-10.92%
-1.35%
2.12%
-4.47%
2.57%
6.57%
-10.39%
-12.80%

13528.24
2062.56
2075.14
12669.09
786.04
2866.85
3295.86
0.00
0.00
3227.74
6039.39
0.00
1530.61
1109.05
6325.99
0.00
2666.98
755.93
2634.67
0.00
694.01
2896.26
13186.24
0.00
2872.31
1996.22
9376.40
10652.36
4881.15
1853.72
0.00
2531.67
3592.01
2192.32
5387.33
5512.38

7831.34
1597.16
1443.15
6828.17
0.00
1638.12
2095.95
0.00
0.00
2208.68
3876.24
0.00
829.31
899.09
3450.21
0.00
1881.70
652.18
1584.57
0.00
0.00
2048.86
6522.03
0.00
1723.25
1348.56
5365.13
5936.81
2375.15
1193.32
0.00
1612.30
2070.03
1396.24
2960.09
2675.43

5519.03
1302.17
1108.88
4627.19
0.00
1149.38
1567.57
0.00
0.00
1692.50
2868.06
0.00
561.44
747.69
2380.11
0.00
1458.26
559.56
1124.65
0.00
0.00
1601.56
4272.33
0.00
1215.01
1019.79
3778.88
4093.99
1528.32
873.51
0.00
1189.69
1433.19
1020.11
2056.71
1738.17

8508.26
1631.24
1502.70
7556.16
157.21
1786.12
2230.26
0.00
0.00
2309.25
4107.24
0.00
915.99
910.80
3811.35
0.00
1954.07
654.41
1702.61
0.00
138.80
2128.88
7404.93
0.00
1851.41
1412.33
5850.13
6511.35
2706.98
1261.44
0.00
1711.65
2247.06
1480.23
3264.86
3055.36

Simulation results

$1,396.08
$(136.26)
$(391.35)
$1,814.40
$907.31
$4,479.95
$2,024.00
$3,710.62
$7,844.31
$1,072.91
$10,561.65
$4,412.45
$1,027.52
$202.88
$1,640.76
$4,371.51
$7,368.49
$46.13
$3,049.24
$12,875.98
$259.45
$7,023.54
$1,481.04
$868.83
$441.26
$1,190.92
$1,263.00
$2,397.67
$3,264.53
$1,481.72
$1,867.55
$1,577.74
$2,570.71
$8,552.34
$9,324.58
$4,958.35

$1,068.92
$(31.57)
$(266.86)
$1,225.08
$532.40
$2,665.73
$1,745.05
$2,243.46
$4,827.14
$894.44
$5,799.76
$2,751.71
$602.07
$180.51
$1,313.37
$3,071.14
$3,432.79
$100.15
$1,728.73
$6,476.15
$228.01
$3,829.56
$1,088.10
$765.85
$423.96
$691.89
$1,041.79
$1,870.07
$2,159.93
$920.07
$1,281.05
$974.91
$1,615.72
$5,113.71
$5,178.56
$2,481.19

$864.10
$2.01
$(208.65)
$926.60
$362.78
$1,901.86
$1,506.43
$1,638.55
$3,503.37
$754.57
$3,989.07
$2,004.72
$417.91
$150.90
$1,092.16
$2,384.91
$2,172.06
$104.94
$1,211.72
$4,225.59
$192.52
$2,641.55
$861.91
$663.90
$378.86
$479.65
$877.99
$1,532.10
$1,637.90
$669.61
$976.44
$704.65
$1,173.76
$3,657.98
$3,565.78
$1,615.95

$0.94
$0.85
$0.66
$0.81
$0.56
$0.76
$1.88
$1.16
$0.85
$0.98
$0.89
$0.83
$0.67
$0.71
$1.24
$1.31
$0.61
$0.71
$0.87
$0.56
$0.78
$0.88
$0.94
$1.08
$1.02
$0.61
$1.21
$1.21
$1.09
$0.75
$0.81
$0.64
$0.68
$1.00
$0.81
$0.58

$0.67
$0.46
$0.37
$0.45
$0.38
$0.56
$0.66
$0.54
$0.94
$0.86
$0.45
$0.59
$0.37
$0.50
$0.78
$0.57
$0.27
$0.77
$0.52
$0.45
$0.48
$0.64
$0.53
$0.80
$0.55
$0.58
$0.66
$0.97
$0.60
$0.57
$0.54
$0.71
$0.49
$0.48
$0.51
$0.47

4.44%
10.00%
10.00%
4.57%
4.37%
2.31%
10.00%
10.00%
-1.26%
8.35%
-3.65%
-2.96%
7.15%
7.11%
10.00%
0.84%
-0.75%
10.00%
10.00%
-9.40%
8.73%
5.20%
6.70%
10.00%
10.00%
10.00%
10.00%
7.30%
7.19%
10.00%
1.28%
10.00%
-1.50%
-2.94%
-7.38%
4.40%

Page 21

10.00%
10.00%
5.33%
-2.11%
-2.39%
-7.28%
8.57%
-7.66%
-5.87%
6.12%
-11.51%
10.00%
-4.12%
6.38%
2.37%
10.00%
-14.80%
7.65%
-7.64%
-10.53%
3.93%
-10.26%
0.30%
6.55%
6.65%
-3.41%
3.21%
3.25%
-4.97%
-3.59%
10.00%
-2.92%
7.25%
-7.93%
6.49%
-10.80%

1396.08
0.00
0.00
1814.40
907.31
4479.95
2024.00
3710.62
7844.31
1072.91
10561.65
4412.45
1027.52
0.00
1640.76
4371.51
7368.49
0.00
3049.24
12875.98
0.00
7023.54
1481.04
868.83
0.00
1190.92
1263.00
2397.67
3264.53
1481.72
1867.55
1577.74
2570.71
8552.34
9324.58
4958.35

1068.92
0.00
0.00
1225.08
0.00
2665.73
1745.05
2243.46
4827.14
894.44
5799.76
2751.71
602.07
0.00
1313.37
3071.14
3432.79
0.00
1728.73
6476.15
0.00
3829.56
1088.10
765.85
0.00
691.89
1041.79
1870.07
2159.93
920.07
1281.05
974.91
1615.72
5113.71
5178.56
2481.19

864.10
0.00
0.00
926.60
0.00
1901.86
1506.43
1638.55
3503.37
754.57
3989.07
2004.72
0.00
0.00
1092.16
2384.91
2172.06
0.00
1211.72
4225.59
0.00
2641.55
861.91
663.90
0.00
0.00
877.99
1532.10
1637.90
669.61
976.44
704.65
1173.76
3657.98
3565.78
1615.95

1093.39
0.00
0.00
1283.25
181.46
2875.80
1753.12
2415.91
5165.82
902.16
6390.00
2934.46
566.75
0.00
1334.61
3193.97
3967.78
0.00
1889.43
7306.00
0.00
4230.75
1121.45
766.06
0.00
653.32
1053.27
1908.00
2276.44
982.30
1337.43
1041.42
1718.32
5510.29
5685.21
2803.57

Simulation results

$1,482.63
$4,456.29
$1,783.52
$(50.21)
$1,763.65
$5,049.44
$(134.61)
$214.10
$4,000.17
$321.45
$187.03
$(159.49)
$(569.27)
$(369.66)
$52,473.34
$(81.36)
$3,929.37
$3,302.65
$12,977.99
$4,815.30
$1,568.67
$3,501.10
$400.57
$5,795.99
$2,432.36
$1.93
$614.45
$2,736.54
$1,350.53
$333.02
$3,415.17
$4,715.32
$1,827.87
$4,561.53
$17,590.61
$685.65

$1,076.35
$2,444.17
$1,174.42
$4.23
$982.80
$3,253.20
$(110.10)
$257.91
$2,422.14
$280.64
$138.26
$(66.97)
$(410.63)
$(245.32)
$21,202.18
$(27.40)
$2,210.70
$2,043.05
$6,561.24
$2,876.03
$1,075.93
$2,077.72
$366.01
$3,133.04
$1,564.71
$82.63
$539.75
$1,570.91
$989.38
$331.58
$2,052.57
$3,111.26
$1,280.16
$2,844.16
$7,353.76
$407.70

$845.28
$1,674.18
$880.68
$17.23
$673.82
$2,408.44
$(100.30)
$247.73
$1,728.75
$237.54
$105.94
$(35.54)
$(329.74)
$(188.93)
$12,605.62
$(12.31)
$1,528.81
$1,498.95
$4,393.20
$2,059.85
$820.79
$1,463.63
$319.17
$2,138.69
$1,172.07
$98.97
$464.39
$1,110.49
$787.53
$299.37
$1,454.75
$2,333.96
$984.79
$2,065.87
$4,458.13
$276.31

$0.87
$0.66
$0.84
$0.84
$0.72
$0.92
$0.57
$0.95
$0.71
$0.72
$0.68
$0.74
$0.55
$0.65
$0.70
$0.75
$0.68
$1.00
$1.04
$0.79
$0.74
$0.61
$0.87
$0.73
$1.01
$0.91
$0.96
$0.92
$0.99
$1.03
$0.64
$0.98
$0.81
$0.73
$0.75
$0.52

$0.56
$0.66
$0.45
$0.33
$0.47
$0.57
$0.36
$0.64
$0.39
$0.67
$0.52
$0.52
$0.40
$0.44
$0.51
$0.42
$0.42
$0.44
$0.49
$0.64
$0.65
$0.47
$0.64
$0.54
$0.58
$0.49
$0.60
$0.46
$0.61
$0.41
$0.41
$0.61
$0.53
$0.61
$0.58
$0.45

3.04%
6.94%
6.30%
10.00%
10.00%
-0.95%
5.39%
10.00%
-1.31%
8.97%
10.00%
10.00%
8.05%
10.00%
-14.11%
10.00%
2.24%
6.29%
0.25%
3.11%
6.34%
-3.64%
10.00%
3.40%
10.00%
10.00%
7.58%
10.00%
10.00%
10.00%
-1.12%
-1.30%
3.08%
-2.83%
6.09%
1.26%

Page 22

10.00%
-8.25%
-3.59%
3.72%
-6.10%
-2.87%
8.26%
10.00%
-5.32%
4.77%
1.79%
7.17%
10.00%
6.20%
-19.22%
4.05%
-8.65%
-7.25%
-14.28%
-7.20%
-0.88%
3.25%
5.05%
-10.06%
-4.91%
10.00%
10.00%
-7.62%
-0.64%
5.53%
-4.73%
2.89%
1.76%
0.05%
-16.42%
6.88%

1482.63
4456.29
1783.52
0.00
1763.65
5049.44
0.00
0.00
4000.17
0.00
0.00
0.00
0.00
0.00
52473.34
0.00
3929.37
3302.65
12977.99
4815.30
1568.67
3501.10
0.00
5795.99
2432.36
0.00
614.45
2736.54
1350.53
0.00
3415.17
4715.32
1827.87
4561.53
17590.61
685.65

1076.35
2444.17
1174.42
0.00
982.80
3253.20
0.00
0.00
2422.14
0.00
0.00
0.00
0.00
0.00
21202.18
0.00
2210.70
2043.05
6561.24
2876.03
1075.93
2077.72
0.00
3133.04
1564.71
0.00
0.00
1570.91
989.38
0.00
2052.57
3111.26
1280.16
2844.16
7353.76
0.00

845.28
1674.18
880.68
0.00
673.82
2408.44
0.00
0.00
1728.75
0.00
0.00
0.00
0.00
0.00
12605.62
0.00
1528.81
1498.95
4393.20
2059.85
820.79
1463.63
0.00
2138.69
1172.07
0.00
0.00
1110.49
787.53
0.00
1454.75
2333.96
984.79
2065.87
4458.13
0.00

1111.39
2692.60
1237.49
0.00
1077.17
3443.50
0.00
0.00
2599.07
0.00
0.00
0.00
0.00
0.00
25737.10
0.00
2418.06
2186.15
7410.98
3100.65
1123.45
2239.58
0.00
3466.76
1659.71
0.00
122.89
1711.96
1021.24
0.00
2205.53
3276.61
1330.63
3031.98
8822.01
137.13

Simulation results

$2,744.81
$4,534.70
$941.92
$2,961.22
$5,650.97
$260.45
$4,556.25
$207.45
$3,959.83
$4,340.16
$6,642.74
$(255.24)
$17,254.94
$930.17
$441.14
$3,066.31
$5,366.46
$3,743.79
$6,111.86
$1,172.12
$1,302.20
$22,349.12
$2,567.43
$1,107.63
$4,119.55
$7,924.66
$2,254.71
$2,558.54
$28,538.07
$155.19
$23,224.04
$18,051.55
$2,486.57
$831.40
$2,545.55
$2,546.47

$1,790.29
$3,099.18
$859.26
$1,823.37
$3,677.24
$296.20
$2,997.67
$252.45
$2,320.76
$3,131.28
$2,873.31
$(218.28)
$10,038.15
$711.01
$313.34
$2,001.81
$3,472.49
$2,607.66
$3,781.80
$791.24
$936.26
$11,763.95
$1,894.67
$664.39
$2,620.02
$4,522.79
$1,485.42
$1,531.02
$11,011.63
$78.80
$12,156.29
$7,288.46
$1,598.74
$741.35
$1,732.58
$1,693.20

$1,341.46
$2,372.60
$758.20
$1,306.69
$2,739.07
$280.24
$2,273.30
$243.14
$1,626.63
$2,464.29
$1,752.07
$(191.84)
$7,126.86
$571.25
$241.92
$1,512.44
$2,580.38
$2,012.15
$2,756.97
$591.80
$730.56
$8,007.45
$1,507.67
$464.60
$1,936.79
$3,159.30
$1,105.51
$1,102.03
$6,436.02
$44.71
$8,160.57
$4,327.98
$1,175.16
$646.31
$1,331.99
$1,268.98

$0.95
$1.12
$1.16
$0.66
$1.03
$0.96
$1.22
$0.98
$0.61
$1.31
$0.78
$0.59
$1.25
$0.77
$0.75
$1.11
$1.03
$1.04
$0.92
$0.65
$0.80
$1.33
$1.17
$0.61
$0.91
$0.79
$0.73
$0.88
$0.76
$0.68
$0.98
$0.63
$0.66
$1.26
$1.01
$0.77

$0.45
$0.73
$1.01
$0.40
$0.55
$0.67
$0.98
$0.57
$0.48
$0.79
$0.35
$0.32
$1.18
$0.68
$0.49
$0.68
$0.49
$0.71
$0.69
$0.49
$0.57
$0.79
$0.58
$0.40
$0.62
$0.68
$0.48
$0.48
$0.65
$0.38
$0.74
$0.54
$0.57
$0.47
$0.80
$0.54

5.27%
-0.37%
10.00%
-1.39%
-1.36%
10.00%
10.00%
10.00%
-4.29%
1.84%
10.00%
9.95%
-2.88%
6.52%
10.00%
10.00%
-2.06%
0.73%
0.99%
3.01%
5.87%
-3.39%
5.39%
5.23%
3.54%
-6.56%
1.76%
8.59%
5.80%
10.00%
-9.96%
4.97%
1.74%
10.00%
10.00%
1.91%

Page 23

-5.15%
8.34%
10.00%
-1.60%
-1.62%
10.00%
-4.66%
10.00%
3.70%
5.22%
-14.37%
0.22%
-9.28%
3.70%
0.32%
-4.87%
3.78%
4.55%
-6.65%
2.10%
0.83%
-13.58%
0.29%
-3.21%
-5.55%
8.56%
-1.14%
-6.56%
-18.38%
-0.68%
-8.65%
-17.01%
-2.30%
5.72%
-2.83%
-1.32%

2744.81
4534.70
941.92
2961.22
5650.97
0.00
4556.25
0.00
3959.83
4340.16
6642.74
0.00
17254.94
930.17
0.00
3066.31
5366.46
3743.79
6111.86
1172.12
1302.20
22349.12
2567.43
1107.63
4119.55
7924.66
2254.71
2558.54
28538.07
0.00
23224.04
18051.55
2486.57
831.40
2545.55
2546.47

1790.29
3099.18
859.26
1823.37
3677.24
0.00
2997.67
0.00
2320.76
3131.28
2873.31
0.00
10038.15
711.01
0.00
2001.81
3472.49
2607.66
3781.80
791.24
936.26
11763.95
1894.67
664.39
2620.02
4522.79
1485.42
1531.02
11011.63
0.00
12156.29
7288.46
1598.74
741.35
1732.58
1693.20

1341.46
2372.60
758.20
1306.69
2739.07
0.00
2273.30
0.00
1626.63
2464.29
1752.07
0.00
7126.86
571.25
0.00
1512.44
2580.38
2012.15
2756.97
591.80
730.56
8007.45
1507.67
0.00
1936.79
3159.30
1105.51
1102.03
6436.02
0.00
8160.57
4327.98
1175.16
646.31
1331.99
1268.98

1891.43
3240.97
855.58
1947.60
3884.35
0.00
3164.51
0.00
2509.74
3239.66
3402.95
0.00
10899.25
726.89
0.00
2116.84
3672.87
2715.78
4042.85
827.53
968.30
13129.69
1951.82
620.16
2783.28
4930.46
1563.30
1650.73
13601.80
0.00
13570.70
8848.98
1691.59
740.35
1815.05
1779.01

Simulation results

$1,020.85
$682.44
$6,090.66
$296.50
$5,289.30
$5,572.10
$4,999.22
$31,145.45
$784.07
$19,114.77
$11,600.01
$2,707.16
$6,753.33
$432.33
$1,424.58
$3,740.75
$7,994.55
$2,248.97
$55.72
$479.58
$988.99
$9,531.02
$14,681.84
$5,067.56
$10,102.01
$835.34
$263.02
$1,109.55
$1,621.83
$7,338.85
$2,279.81
$369.81
$2,279.53
$6,480.58
$663.01
$3,917.79

$690.00
$550.19
$3,380.47
$235.59
$2,923.33
$3,336.19
$3,100.64
$14,801.80
$596.71
$9,416.17
$4,998.79
$1,830.19
$2,785.01
$405.76
$904.88
$2,158.73
$5,441.76
$1,264.15
$51.96
$333.14
$781.89
$4,528.43
$9,009.79
$3,309.68
$5,627.36
$551.90
$285.24
$733.30
$1,052.90
$4,164.82
$1,187.62
$333.65
$1,510.88
$3,575.62
$405.66
$2,162.58

$515.25
$454.65
$2,304.30
$191.80
$1,985.07
$2,373.84
$2,248.57
$9,499.79
$477.83
$6,132.69
$3,028.73
$1,398.04
$1,611.93
$357.97
$668.17
$1,522.67
$4,184.92
$858.21
$41.20
$254.86
$645.04
$2,920.98
$6,547.00
$2,471.07
$3,907.11
$407.55
$264.67
$541.70
$786.84
$2,919.88
$786.30
$288.71
$1,127.83
$2,463.32
$288.94
$1,496.33

$0.69
$0.98
$0.54
$0.81
$0.57
$0.74
$0.86
$0.93
$0.83
$0.77
$0.53
$0.98
$0.38
$0.90
$0.81
$0.79
$1.88
$0.54
$0.67
$0.78
$1.04
$0.80
$1.40
$0.93
$0.86
$0.74
$0.80
$0.65
$0.86
$0.87
$0.72
$0.81
$0.73
$0.71
$0.71
$0.86

$0.39
$0.34
$0.48
$0.44
$0.36
$0.48
$0.39
$0.55
$0.48
$0.43
$0.62
$0.64
$0.40
$0.66
$0.53
$0.61
$0.60
$0.40
$0.52
$0.43
$0.56
$0.52
$0.97
$0.72
$0.72
$0.30
$0.87
$0.44
$0.49
$0.60
$0.42
$0.68
$0.50
$0.62
$0.46
$0.57

2.92%
8.09%
-5.14%
10.00%
-6.17%
-2.78%
-1.61%
-13.00%
6.96%
-8.72%
10.00%
6.91%
5.58%
8.76%
10.00%
7.53%
3.09%
1.98%
10.00%
9.80%
10.00%
5.32%
-5.18%
0.38%
-0.78%
5.37%
9.07%
3.88%
8.58%
1.37%
10.00%
10.00%
1.21%
1.97%
10.00%
10.00%

Page 24

3.45%
2.13%
-6.90%
1.35%
-1.07%
-5.61%
-5.06%
-5.27%
2.43%
-14.16%
-14.26%
-3.46%
-14.00%
8.12%
-3.52%
-7.38%
-6.29%
-6.15%
2.74%
-0.52%
1.32%
-13.57%
-2.13%
-3.40%
-10.29%
-1.53%
10.00%
0.01%
-3.78%
-9.77%
-8.06%
4.82%
0.21%
-9.56%
-2.15%
-8.48%

1020.85
682.44
6090.66
0.00
5289.30
5572.10
4999.22
31145.45
784.07
19114.77
11600.01
2707.16
6753.33
0.00
1424.58
3740.75
7994.55
2248.97
0.00
0.00
988.99
9531.02
14681.84
5067.56
10102.01
835.34
0.00
1109.55
1621.83
7338.85
2279.81
0.00
2279.53
6480.58
663.01
3917.79

690.00
0.00
3380.47
0.00
2923.33
3336.19
3100.64
14801.80
596.71
9416.17
4998.79
1830.19
2785.01
0.00
904.88
2158.73
5441.76
1264.15
0.00
0.00
781.89
4528.43
9009.79
3309.68
5627.36
0.00
0.00
733.30
1052.90
4164.82
1187.62
0.00
1510.88
3575.62
0.00
2162.58

0.00
0.00
2304.30
0.00
1985.07
2373.84
2248.57
9499.79
0.00
6132.69
3028.73
1398.04
1611.93
0.00
668.17
1522.67
4184.92
858.21
0.00
0.00
645.04
2920.98
6547.00
2471.07
3907.11
0.00
0.00
0.00
786.84
2919.88
786.30
0.00
1127.83
2463.32
0.00
1496.33

618.17
136.49
3707.27
0.00
3208.87
3590.90
3309.94
17010.13
514.84
10699.19
5925.03
1919.15
3344.06
0.00
961.48
2347.93
5700.95
1379.92
0.00
0.00
795.94
5207.46
9651.64
3493.54
6178.24
167.07
0.00
661.89
1113.48
4550.64
1325.80
0.00
1588.00
3934.15
132.60
2380.37

Simulation results

$(263.68)
$36,319.26
$11,892.53
$328.66
$5,269.81
$3,493.16
$889.85
$5,909.59
$1,010.94
$5,086.39
$3,080.70
$1,579.13
$3,888.86
$13,138.47
$21,927.21
$3,919.93
$608.52
$4,888.05
$4,297.69
$11,190.85
$(425.83)
$1,220.98
$1,576.22
$143.24
$3,661.96
$2,777.41
$399.61
$3,376.08
$1,854.82
$539.93
$4,084.12
$3,150.48
$444.52
$5,322.61
$442.21
$1,906.52

$(287.36)
$11,617.72
$6,348.76
$315.42
$3,241.22
$2,365.01
$816.38
$4,054.63
$674.32
$3,337.36
$1,641.62
$1,303.76
$2,654.49
$5,027.94
$11,379.91
$2,506.04
$458.06
$3,185.95
$2,701.85
$6,980.24
$(286.52)
$860.49
$1,196.80
$155.51
$2,128.81
$1,747.32
$400.47
$2,485.22
$1,314.34
$514.94
$2,440.22
$2,059.81
$367.10
$3,563.48
$292.99
$1,218.11

$(272.80)
$6,161.61
$4,275.79
$280.22
$2,364.59
$1,800.87
$721.93
$3,112.26
$500.20
$2,497.02
$1,101.22
$1,097.71
$2,027.67
$2,860.90
$7,601.24
$1,851.26
$361.75
$2,378.50
$1,979.53
$5,106.67
$(221.84)
$662.45
$962.84
$141.58
$1,486.79
$1,271.45
$363.68
$1,974.33
$1,020.17
$460.17
$1,730.12
$1,560.40
$305.43
$2,695.89
$216.93
$897.82

$0.46
$0.65
$0.71
$0.94
$0.96
$0.90
$1.28
$1.27
$0.62
$0.98
$0.64
$1.27
$1.06
$0.44
$1.01
$0.79
$0.61
$0.96
$0.89
$1.35
$0.65
$0.77
$0.93
$0.80
$0.60
$0.68
$1.07
$1.29
$0.87
$1.11
$0.69
$1.19
$0.73
$1.13
$0.70
$0.75

$0.29
$0.39
$0.44
$0.49
$0.67
$0.86
$0.70
$0.85
$0.52
$0.63
$0.47
$0.71
$0.58
$0.38
$0.47
$0.80
$0.73
$0.69
$0.46
$0.62
$0.40
$0.47
$0.69
$0.53
$0.48
$0.54
$0.49
$0.60
$0.57
$0.54
$0.42
$0.62
$0.75
$0.59
$0.50
$0.53

8.83%
6.89%
-7.98%
10.00%
3.94%
-0.56%
10.00%
1.75%
1.96%
-1.59%
6.86%
7.78%
-0.01%
3.66%
-9.67%
-2.37%
5.64%
-2.00%
1.17%
-3.31%
8.69%
4.92%
4.53%
10.00%
0.20%
-1.76%
9.43%
3.40%
2.12%
9.66%
-3.75%
10.00%
10.00%
-0.90%
10.00%
6.34%

Page 25

-2.22%
-22.04%
-8.80%
4.89%
-7.06%
10.00%
10.00%
-2.38%
6.63%
2.27%
-8.38%
7.01%
7.10%
-17.32%
-10.36%
10.00%
4.98%
6.95%
-6.04%
-5.32%
10.00%
0.78%
6.59%
4.62%
-6.64%
6.60%
9.84%
3.23%
9.49%
8.75%
4.49%
-5.35%
3.72%
2.32%
-0.24%
-3.71%

0.00
36319.26
11892.53
0.00
5269.81
3493.16
889.85
5909.59
1010.94
5086.39
3080.70
1579.13
3888.86
13138.47
21927.21
3919.93
608.52
4888.05
4297.69
11190.85
0.00
1220.98
1576.22
0.00
3661.96
2777.41
0.00
3376.08
1854.82
0.00
4084.12
3150.48
0.00
5322.61
0.00
1906.52

0.00
11617.72
6348.76
0.00
3241.22
2365.01
816.38
4054.63
674.32
3337.36
1641.62
1303.76
2654.49
5027.94
11379.91
2506.04
0.00
3185.95
2701.85
6980.24
0.00
860.49
1196.80
0.00
2128.81
1747.32
0.00
2485.22
1314.34
0.00
2440.22
2059.81
0.00
3563.48
0.00
1218.11

0.00
6161.61
4275.79
0.00
2364.59
1800.87
721.93
3112.26
0.00
2497.02
1101.22
1097.71
2027.67
2860.90
7601.24
1851.26
0.00
2378.50
1979.53
5106.67
0.00
662.45
962.84
0.00
1486.79
1271.45
0.00
1974.33
1020.17
0.00
1730.12
1560.40
0.00
2695.89
0.00
897.82

0.00
15466.81
7042.92
0.00
3471.61
2477.82
812.18
4237.15
606.78
3519.10
1821.36
1317.62
2776.00
6216.64
12733.63
2657.86
121.70
3364.88
2876.55
7447.65
0.00
892.98
1225.89
0.00
2307.03
1858.16
0.00
2561.21
1363.60
0.00
2626.98
2178.06
0.00
3741.79
0.00
1291.73

Simulation results

$(53.14)
$3,196.96
$1,146.13
$1,023.67
$4,810.26
$701.36
$914.17
$5,532.85
$1,468.60
$60.71
$154.65
$1,489.82
$1,524.28
$293.53
$1,048.40
$10,519.46
$4,142.78
$1,155.75
$2,675.61
$1,285.30
$7,432.14
$1,003.08
$133.49
$(823.36)
$66,628.78
$201.21
$1,143.55
$1,333.35
$2,614.45
$15,215.96
$6,011.95
$3,702.49
$7,817.12
$3,364.08
$2,803.83
$2,774.22

$37.13
$2,211.19
$731.43
$793.67
$3,189.39
$613.42
$699.16
$3,411.96
$913.30
$22.25
$203.13
$1,013.51
$938.32
$267.39
$875.98
$4,614.83
$2,560.94
$563.11
$1,723.09
$952.20
$4,356.95
$663.71
$145.90
$(599.36)
$29,025.80
$44.58
$797.93
$981.61
$1,776.00
$7,425.10
$3,712.58
$2,336.99
$4,650.32
$2,428.17
$2,081.12
$1,958.12

$60.34
$1,700.20
$529.31
$643.67
$2,401.04
$528.78
$561.60
$2,468.87
$670.40
$1.16
$198.57
$766.19
$664.83
$231.56
$739.90
$2,854.59
$1,874.79
$334.16
$1,280.56
$753.92
$3,073.52
$488.79
$132.97
$(480.05)
$17,939.27
$(10.20)
$613.15
$776.99
$1,359.52
$4,780.04
$2,700.26
$1,706.40
$3,372.05
$1,912.54
$1,659.37
$1,520.13

$0.90
$0.92
$0.60
$0.87
$0.98
$1.03
$0.82
$0.74
$0.90
$0.64
$0.95
$0.80
$0.60
$0.85
$0.98
$0.74
$0.94
$0.41
$0.96
$0.90
$0.67
$0.63
$0.82
$0.57
$1.27
$0.56
$0.74
$0.87
$0.91
$0.57
$0.85
$0.71
$1.40
$1.27
$1.20
$0.97

$0.46
$0.79
$0.48
$0.60
$0.70
$0.64
$0.54
$0.69
$0.41
$0.30
$0.53
$0.35
$0.34
$0.51
$0.86
$0.46
$0.66
$0.41
$0.27
$0.42
$0.74
$0.44
$0.47
$0.29
$0.61
$0.32
$0.60
$0.59
$0.81
$0.41
$0.85
$0.59
$0.96
$0.56
$0.60
$0.66

10.00%
0.37%
0.84%
6.78%
1.15%
10.00%
4.99%
-3.73%
10.00%
7.02%
10.00%
3.80%
-0.03%
9.91%
6.84%
6.55%
6.28%
3.79%
3.69%
4.68%
-5.62%
3.14%
10.00%
10.00%
-15.50%
8.38%
7.21%
6.60%
8.10%
-11.30%
-4.17%
-2.19%
10.00%
4.58%
4.10%
3.77%

Page 26

10.00%
7.44%
7.94%
3.60%
-3.18%
4.95%
7.32%
0.09%
-5.00%
1.15%
8.81%
-0.96%
2.87%
3.72%
10.00%
-15.03%
-6.47%
-5.06%
-6.51%
3.88%
-2.90%
1.69%
4.09%
10.00%
-5.75%
-2.87%
-0.20%
1.08%
-2.57%
-8.42%
8.00%
1.96%
-8.35%
-1.24%
2.91%
-0.35%

0.00
3196.96
1146.13
1023.67
4810.26
701.36
914.17
5532.85
1468.60
0.00
0.00
1489.82
1524.28
0.00
1048.40
10519.46
4142.78
1155.75
2675.61
1285.30
7432.14
1003.08
0.00
0.00
66628.78
0.00
1143.55
1333.35
2614.45
15215.96
6011.95
3702.49
7817.12
3364.08
2803.83
2774.22

0.00
2211.19
731.43
793.67
3189.39
613.42
699.16
3411.96
913.30
0.00
0.00
1013.51
938.32
0.00
875.98
4614.83
2560.94
0.00
1723.09
952.20
4356.95
663.71
0.00
0.00
29025.80
0.00
797.93
981.61
1776.00
7425.10
3712.58
2336.99
4650.32
2428.17
2081.12
1958.12

0.00
1700.20
0.00
643.67
2401.04
0.00
561.60
2468.87
670.40
0.00
0.00
766.19
664.83
0.00
739.90
2854.59
1874.79
0.00
1280.56
753.92
3073.52
0.00
0.00
0.00
17939.27
0.00
613.15
776.99
1359.52
4780.04
2700.26
1706.40
3372.05
1912.54
1659.37
1520.13

0.00
2306.15
668.08
809.67
3355.89
508.33
714.65
3647.52
975.78
0.00
0.00
1059.31
1000.81
0.00
883.25
5443.71
2740.08
231.15
1825.09
979.16
4715.30
598.84
0.00
0.00
34329.09
0.00
830.10
1011.03
1860.39
8454.26
3969.99
2483.97
5028.02
2512.22
2141.31
2033.74

Simulation results

$10,938.59
$1,395.29
$4,024.95
$2,427.43
$1,912.00
$1,441.80
$8,177.53
$5,967.23
$82.76
$2,139.50
$1,276.53
$1,066.16
$4,920.10
$1,659.17
$2,873.44
$7,256.19
$675.03
$1,107.68
$1,393.47
$5,535.26
$6,189.37
$1,386.27
$1,818.50
$2,095.47
$4,240.22
$3,574.33
$1,305.26
$558.50
$12,599.34
$14,999.80
$1,659.50
$749.46
$2,524.06
$460.81
$13,898.94
$93.00

$6,379.33
$790.65
$2,447.97
$1,331.75
$1,214.07
$936.11
$4,559.06
$3,558.81
$108.94
$1,419.32
$925.96
$660.47
$2,809.78
$854.72
$2,085.93
$4,247.02
$547.55
$743.49
$796.51
$3,588.04
$3,528.11
$990.01
$1,303.30
$1,345.07
$2,259.74
$2,311.61
$833.57
$259.85
$5,579.13
$7,560.93
$1,156.02
$554.27
$1,641.76
$338.93
$6,961.68
$125.97

$4,502.36
$538.85
$1,762.39
$909.88
$895.34
$687.14
$3,140.42
$2,589.69
$103.80
$1,059.60
$724.23
$478.92
$1,948.10
$554.38
$1,643.48
$3,004.56
$455.79
$563.52
$552.48
$2,674.35
$2,476.78
$776.14
$1,015.90
$989.97
$1,529.02
$1,709.58
$608.53
$135.33
$3,509.92
$5,087.89
$898.98
$437.56
$1,226.38
$265.51
$4,613.93
$120.89

$0.98
$0.63
$0.79
$0.74
$0.75
$0.72
$0.75
$1.39
$0.85
$0.63
$0.85
$0.76
$0.59
$0.63
$1.15
$0.82
$0.96
$0.79
$0.72
$1.01
$0.78
$0.86
$0.87
$0.71
$0.73
$0.82
$0.65
$0.42
$1.00
$1.46
$1.00
$0.81
$0.90
$0.65
$0.87
$0.72

$0.53
$0.35
$0.47
$0.44
$0.72
$0.31
$0.49
$0.68
$0.40
$0.69
$0.43
$0.48
$0.56
$0.43
$0.52
$0.55
$0.52
$0.58
$0.46
$0.69
$0.80
$0.74
$0.53
$0.51
$0.47
$0.46
$0.50
$0.34
$0.44
$0.79
$0.58
$0.46
$0.45
$0.69
$0.53
$0.67

-5.67%
5.49%
1.57%
8.65%
10.00%
2.86%
-7.08%
10.00%
10.00%
2.03%
3.86%
10.00%
-5.65%
9.98%
3.52%
-1.78%
10.00%
10.00%
10.00%
1.06%
5.21%
10.00%
3.14%
3.97%
6.00%
-1.02%
5.72%
0.54%
6.59%
7.76%
10.00%
7.46%
5.16%
10.00%
-1.97%
7.85%

Page 27

-5.94%
-5.51%
-6.72%
-7.59%
-3.24%
-1.69%
5.17%
-8.68%
3.97%
-0.17%
4.89%
-3.30%
3.38%
-6.74%
1.53%
-8.36%
1.99%
-1.70%
-5.12%
-4.79%
-8.30%
-0.37%
3.86%
-3.34%
-9.69%
0.87%
-2.27%
1.49%
-15.90%
-13.40%
-2.35%
1.08%
-4.84%
1.96%
-14.06%
10.00%

10938.59
1395.29
4024.95
2427.43
1912.00
1441.80
8177.53
5967.23
0.00
2139.50
1276.53
1066.16
4920.10
1659.17
2873.44
7256.19
675.03
1107.68
1393.47
5535.26
6189.37
1386.27
1818.50
2095.47
4240.22
3574.33
1305.26
0.00
12599.34
14999.80
1659.50
749.46
2524.06
0.00
13898.94
0.00

6379.33
790.65
2447.97
1331.75
1214.07
936.11
4559.06
3558.81
0.00
1419.32
925.96
660.47
2809.78
854.72
2085.93
4247.02
0.00
743.49
796.51
3588.04
3528.11
990.01
1303.30
1345.07
2259.74
2311.61
833.57
0.00
5579.13
7560.93
1156.02
0.00
1641.76
0.00
6961.68
0.00

4502.36
0.00
1762.39
909.88
895.34
687.14
3140.42
2589.69
0.00
1059.60
724.23
0.00
1948.10
0.00
1643.48
3004.56
0.00
563.52
0.00
2674.35
2476.78
776.14
1015.90
989.97
1529.02
1709.58
608.53
0.00
3509.92
5087.89
898.98
0.00
1226.38
0.00
4613.93
0.00

6915.79
753.45
2626.25
1466.51
1289.91
987.45
4999.03
3846.67
0.00
1491.41
955.73
609.51
3059.51
844.67
2154.94
4600.36
135.01
780.33
756.60
3794.74
3850.10
1026.49
1348.86
1424.13
2509.69
2443.75
882.90
0.00
6569.33
8554.10
1205.31
149.89
1735.14
0.00
7879.58
0.00

Simulation results

$1,263.81
$1,000.62
$(132.91)
$4,434.78
$7,068.94
$6,333.47
$426.26
$(311.89)
$2,793.00
$(266.16)
$1,741.16
$54.45
$12,544.66
$399.90
$1,303.17
$9,977.18
$5,834.61
$3,619.66
$10,638.07
$796.40
$(249.16)
$3,913.08
$7,051.90
$713.97
$933.55
$762.04
$3,121.75
$2,749.06
$6,554.98
$7,586.75
$1,758.57
$(54.10)
$4,670.50
$8,343.90
$273.38
$3,673.01

$1,020.82
$739.39
$(60.45)
$2,873.81
$4,565.69
$3,774.66
$201.22
$(266.91)
$1,872.77
$(141.81)
$1,264.70
$51.15
$6,477.04
$197.81
$831.34
$5,291.23
$3,605.13
$2,332.85
$4,455.09
$638.36
$(128.73)
$2,148.05
$3,384.20
$592.39
$630.59
$516.72
$2,360.46
$1,812.01
$3,737.11
$4,268.67
$1,439.02
$30.31
$2,872.62
$4,753.79
$225.03
$2,342.33

$851.87
$590.38
$(36.48)
$2,132.91
$3,393.27
$2,680.87
$114.08
$(237.43)
$1,411.47
$(92.95)
$993.04
$40.63
$4,306.23
$110.40
$610.03
$3,598.35
$2,614.28
$1,741.77
$2,687.54
$529.59
$(82.42)
$1,482.88
$2,177.26
$499.33
$470.19
$387.91
$1,921.05
$1,366.32
$2,601.15
$2,951.30
$1,206.93
$51.67
$2,080.70
$3,315.00
$185.22
$1,720.00

$1.17
$0.96
$0.75
$0.88
$1.04
$0.73
$0.62
$0.47
$0.82
$0.83
$0.81
$0.69
$0.74
$0.47
$0.71
$0.85
$0.88
$1.00
$0.80
$1.03
$0.63
$0.87
$0.67
$1.07
$0.65
$0.65
$1.81
$0.97
$0.73
$0.70
$1.32
$0.83
$0.83
$0.86
$0.73
$0.75

$0.63
$0.52
$0.42
$0.57
$0.82
$0.56
$0.38
$0.33
$0.55
$0.33
$0.71
$0.46
$0.37
$0.46
$0.51
$0.62
$0.51
$0.59
$0.43
$0.48
$0.75
$0.55
$0.44
$0.42
$0.47
$0.57
$0.55
$0.52
$0.55
$0.54
$0.72
$0.54
$0.50
$0.50
$0.58
$0.57

10.00%
10.00%
10.00%
-0.17%
-2.55%
-4.10%
10.00%
4.52%
0.16%
10.00%
4.19%
9.72%
-6.62%
5.82%
7.54%
0.86%
-3.65%
5.58%
10.00%
10.00%
10.00%
10.00%
3.87%
10.00%
3.95%
7.49%
10.00%
6.07%
-6.10%
-6.86%
7.90%
10.00%
0.65%
-6.42%
10.00%
-1.82%

Page 28

2.23%
-0.48%
4.93%
-2.99%
-0.13%
-4.16%
-3.09%
7.22%
3.89%
9.00%
2.78%
2.46%
-12.79%
-0.81%
-2.83%
-11.78%
2.54%
-5.55%
-15.64%
1.31%
9.41%
-8.69%
-12.88%
1.74%
1.63%
0.18%
-2.65%
-4.63%
8.19%
2.02%
5.83%
8.78%
-6.51%
10.00%
2.81%
2.01%

1263.81
1000.62
0.00
4434.78
7068.94
6333.47
0.00
0.00
2793.00
0.00
1741.16
0.00
12544.66
0.00
1303.17
9977.18
5834.61
3619.66
10638.07
796.40
0.00
3913.08
7051.90
713.97
933.55
762.04
3121.75
2749.06
6554.98
7586.75
1758.57
0.00
4670.50
8343.90
0.00
3673.01

1020.82
739.39
0.00
2873.81
4565.69
3774.66
0.00
0.00
1872.77
0.00
1264.70
0.00
6477.04
0.00
831.34
5291.23
3605.13
2332.85
4455.09
638.36
0.00
2148.05
3384.20
592.39
630.59
0.00
2360.46
1812.01
3737.11
4268.67
1439.02
0.00
2872.62
4753.79
0.00
2342.33

851.87
590.38
0.00
2132.91
3393.27
2680.87
0.00
0.00
1411.47
0.00
993.04
0.00
4306.23
0.00
610.03
3598.35
2614.28
1741.77
2687.54
0.00
0.00
1482.88
2177.26
0.00
0.00
0.00
1921.05
1366.32
2601.15
2951.30
1206.93
0.00
2080.70
3315.00
0.00
1720.00

1035.63
761.83
0.00
3037.83
4831.86
4067.67
0.00
0.00
1964.55
0.00
1305.66
0.00
7256.41
0.00
881.45
5889.84
3852.85
2472.00
5338.18
542.30
0.00
2368.02
3876.35
498.23
565.06
152.41
2424.83
1910.28
4073.49
4668.81
1456.51
0.00
3073.81
5184.06
0.00
2484.00

Simulation results

$10,044.27
$35,994.41
$1,747.59
$313.81
$4,925.58
$212.65
$1,720.19
$22,270.07
$6,334.63
$3,828.96
$4,942.22
$50,039.27
$2,084.21
$3,305.08
$3,492.49
$1,159.21
$1,473.56
$4,238.52
$1,867.69
$(34.69)
$1,362.78
$7,171.15
$4,222.46
$6,333.00
$20,695.64
$125.91
$831.82
$745.92
$2,177.50
$3,720.17
$1,823.22
$6,354.75
$825.25
$176.82
$1,488.81
$1,559.62

$5,782.45
$15,675.17
$1,419.11
$251.48
$3,294.77
$256.71
$1,043.74
$9,793.13
$3,314.68
$2,641.01
$2,927.05
$19,464.46
$1,611.99
$2,020.24
$1,549.36
$660.96
$1,060.16
$2,759.01
$1,380.29
$0.22
$980.44
$3,927.41
$2,556.51
$3,849.07
$8,933.64
$73.16
$725.67
$542.29
$1,187.24
$1,917.12
$1,069.46
$3,163.17
$617.36
$189.01
$1,219.75
$1,266.42

$4,063.76
$9,648.38
$1,185.56
$204.27
$2,523.99
$246.71
$752.78
$6,148.98
$2,241.70
$2,042.64
$2,065.04
$11,299.26
$1,314.44
$1,446.43
$923.97
$440.03
$826.66
$2,051.75
$1,095.20
$6.49
$770.27
$2,729.31
$1,858.36
$2,769.01
$5,500.78
$41.59
$625.94
$422.38
$784.70
$1,270.78
$755.32
$2,082.54
$495.36
$172.56
$1,025.95
$1,059.35

$0.84
$0.69
$1.26
$0.64
$1.43
$0.95
$0.80
$0.95
$0.89
$1.23
$0.67
$0.53
$1.24
$0.65
$0.49
$0.50
$0.89
$0.84
$1.04
$0.70
$0.94
$1.05
$1.03
$0.82
$0.76
$0.53
$1.11
$0.74
$0.44
$0.69
$0.75
$0.86
$0.94
$0.87
$1.34
$1.23

$0.80
$0.63
$0.75
$0.73
$0.96
$0.65
$0.52
$0.54
$0.58
$0.73
$0.44
$0.39
$0.62
$0.48
$0.32
$0.33
$0.38
$0.63
$0.42
$0.49
$0.50
$0.44
$0.51
$0.60
$0.81
$0.49
$0.64
$0.48
$0.44
$0.35
$0.46
$0.54
$0.48
$0.46
$0.61
$0.77

-6.99%
-15.41%
6.52%
10.00%
10.00%
10.00%
10.00%
-0.98%
8.14%
6.63%
-3.52%
-17.87%
7.04%
-2.74%
5.32%
-0.34%
3.44%
-1.43%
4.39%
10.00%
7.90%
3.68%
6.13%
-1.80%
7.50%
4.63%
10.00%
3.87%
-4.00%
4.93%
8.37%
10.00%
10.00%
10.00%
10.00%
9.52%

Page 29

2.22%
-5.91%
10.00%
3.35%
-4.82%
10.00%
-4.73%
-17.25%
-10.78%
-3.68%
-4.20%
-14.86%
2.01%
2.95%
-11.69%
2.01%
5.07%
1.40%
2.86%
3.80%
-1.05%
-11.71%
-7.94%
-6.20%
-15.56%
6.22%
5.26%
10.00%
4.91%
-10.56%
-5.69%
-11.49%
-0.17%
4.62%
2.56%
3.31%

10044.27
35994.41
1747.59
0.00
4925.58
0.00
1720.19
22270.07
6334.63
3828.96
4942.22
50039.27
2084.21
3305.08
3492.49
1159.21
1473.56
4238.52
1867.69
0.00
1362.78
7171.15
4222.46
6333.00
20695.64
0.00
831.82
745.92
2177.50
3720.17
1823.22
6354.75
825.25
0.00
1488.81
1559.62

5782.45
15675.17
1419.11
0.00
3294.77
0.00
1043.74
9793.13
3314.68
2641.01
2927.05
19464.46
1611.99
2020.24
1549.36
660.96
1060.16
2759.01
1380.29
0.00
980.44
3927.41
2556.51
3849.07
8933.64
0.00
725.67
0.00
1187.24
1917.12
1069.46
3163.17
617.36
0.00
1219.75
1266.42

4063.76
9648.38
1185.56
0.00
2523.99
0.00
752.78
6148.98
2241.70
2042.64
2065.04
11299.26
1314.44
1446.43
923.97
0.00
826.66
2051.75
1095.20
0.00
770.27
2729.31
1858.36
2769.01
5500.78
0.00
625.94
0.00
784.70
1270.78
755.32
2082.54
0.00
0.00
1025.95
1059.35

6291.07
18533.66
1438.09
0.00
3466.77
0.00
1120.84
11559.69
3704.07
2758.93
3157.68
23946.38
1646.92
2162.45
1812.91
628.42
1096.14
2913.46
1420.75
0.00
1014.88
4336.53
2750.07
4129.84
10599.47
0.00
726.96
149.18
1304.79
2148.46
1157.38
3585.36
535.47
0.00
1234.80
1283.64

Simulation results

$11,412.11
$2,947.51
$1,079.30
$3,591.22
$5,845.74
$8,172.19
$1,380.74
$2,103.03
$2,770.20
$3,761.07
$1,004.70
$2,652.14
$8,634.63
$1,418.88
$1,733.01
$2,164.75
$6,698.56
$2,770.27
$2,037.08
$13,546.31
$1,954.96
$4,503.76
$1,489.50
$4,580.66
$1,617.81
$4,750.64
$2,261.78
$8,261.33
$2,135.16
$801.20
$1,121.02
$2,829.45
$5,286.33
$20,011.81
$3,681.27
$1,931.89

$5,163.50
$1,896.45
$816.93
$2,111.93
$2,847.09
$4,775.50
$1,025.33
$1,637.52
$1,788.44
$2,561.09
$714.83
$1,742.70
$4,311.15
$1,011.84
$1,389.30
$1,386.49
$4,082.79
$1,616.69
$1,527.13
$7,652.42
$1,430.34
$2,226.44
$927.38
$2,420.78
$974.97
$2,346.82
$1,407.14
$4,854.84
$1,459.97
$500.05
$793.79
$1,857.62
$3,597.33
$9,160.61
$2,815.71
$1,190.09

$3,258.89
$1,397.15
$653.56
$1,482.40
$1,841.12
$3,375.97
$820.43
$1,338.97
$1,317.78
$1,954.67
$552.04
$1,306.42
$2,789.47
$794.69
$1,152.04
$1,033.35
$2,948.93
$1,151.81
$1,229.47
$5,320.55
$1,131.67
$1,452.83
$666.86
$1,641.35
$700.30
$1,503.39
$1,018.68
$3,443.51
$1,121.86
$352.54
$621.37
$1,389.67
$2,749.37
$5,715.30
$2,287.30
$863.96

$0.76
$0.74
$0.83
$0.67
$0.73
$0.91
$0.94
$1.26
$0.72
$1.06
$0.74
$0.88
$0.49
$0.96
$1.13
$0.92
$0.81
$0.92
$1.19
$1.09
$0.99
$0.78
$0.64
$0.85
$0.79
$0.49
$0.72
$0.94
$0.88
$0.53
$0.95
$0.90
$1.28
$0.48
$1.41
$0.76

$0.42
$0.52
$0.57
$0.41
$0.54
$0.57
$0.75
$0.62
$0.50
$0.52
$0.51
$0.49
$0.38
$0.61
$0.83
$0.60
$0.85
$0.50
$0.64
$0.33
$0.60
$0.42
$0.44
$0.46
$0.50
$0.33
$0.40
$0.59
$0.84
$0.49
$0.48
$0.41
$0.61
$0.46
$1.22
$0.60

2.36%
-1.16%
4.80%
-3.71%
10.00%
-5.82%
10.00%
5.09%
-0.60%
2.48%
5.52%
4.50%
-9.90%
10.00%
6.85%
10.00%
-4.82%
10.00%
8.51%
-6.99%
5.95%
8.97%
4.38%
7.82%
10.00%
-0.85%
3.19%
-5.66%
10.00%
3.83%
10.00%
3.11%
-0.53%
-12.72%
3.72%
9.38%

Page 30

-15.43%
4.06%
6.37%
10.00%
-11.31%
8.17%
0.41%
9.50%
1.61%
-2.86%
1.37%
-4.16%
-1.25%
-1.27%
6.10%
-4.35%
4.64%
-7.14%
-0.40%
-6.52%
0.30%
-11.17%
-3.14%
-10.31%
-4.81%
-11.49%
-4.79%
10.00%
-1.89%
0.41%
-1.76%
-4.33%
10.00%
-12.60%
10.00%
-4.30%

11412.11
2947.51
1079.30
3591.22
5845.74
8172.19
1380.74
2103.03
2770.20
3761.07
1004.70
2652.14
8634.63
1418.88
1733.01
2164.75
6698.56
2770.27
2037.08
13546.31
1954.96
4503.76
1489.50
4580.66
1617.81
4750.64
2261.78
8261.33
2135.16
801.20
1121.02
2829.45
5286.33
20011.81
3681.27
1931.89

5163.50
1896.45
816.93
2111.93
2847.09
4775.50
1025.33
1637.52
1788.44
2561.09
714.83
1742.70
4311.15
1011.84
1389.30
1386.49
4082.79
1616.69
1527.13
7652.42
1430.34
2226.44
927.38
2420.78
974.97
2346.82
1407.14
4854.84
1459.97
0.00
793.79
1857.62
3597.33
9160.61
2815.71
1190.09

3258.89
1397.15
653.56
1482.40
1841.12
3375.97
820.43
1338.97
1317.78
1954.67
0.00
1306.42
2789.47
794.69
1152.04
1033.35
2948.93
1151.81
1229.47
5320.55
1131.67
1452.83
666.86
1641.35
700.30
1503.39
1018.68
3443.51
1121.86
0.00
621.37
1389.67
2749.37
5715.30
2287.30
863.96

6032.30
2006.80
836.73
2281.88
3245.63
5174.93
1055.43
1670.91
1890.66
2679.80
629.84
1837.33
4871.51
1049.82
1410.59
1471.51
4379.17
1754.43
1569.59
8364.82
1475.53
2527.18
987.70
2696.87
1048.61
2658.90
1500.38
5253.87
1527.39
160.24
824.75
1958.40
3765.54
10641.79
2883.14
1273.22

Simulation results

$3,045.27
$9,974.90
$(339.16)
$1,488.12
$1,380.09
$(588.35)
$1,292.95
$3,316.28
$12,358.74
$46,188.18
$(603.65)
$1,884.65
$259.09
$4,687.87
$5.50
$526.13
$88.85
$2,492.68
$(82.80)
$451.42
$480.88
$1,569.39
$2,328.64
$223.48
$97.79
$557.79
$2,360.14
$2,038.61
$2,638.37
$4,134.45
$3,304.44
$3,931.95
$3,859.70
$(115.87)
$1,695.51
$1,594.47

$2,046.37
$5,572.26
$(212.28)
$1,052.09
$1,049.08
$(406.09)
$932.23
$1,672.09
$4,818.51
$18,830.62
$(477.28)
$1,258.15
$133.81
$2,937.19
$(3.56)
$442.49
$154.43
$1,679.77
$12.63
$358.70
$346.80
$1,099.66
$1,463.15
$261.21
$105.42
$483.98
$1,558.45
$1,264.68
$1,730.57
$2,435.54
$2,155.94
$2,543.93
$2,444.41
$(14.70)
$1,276.12
$1,258.58

$1,552.41
$3,868.19
$(157.54)
$814.13
$843.66
$(316.41)
$726.58
$1,096.73
$2,777.70
$11,230.22
$(401.30)
$961.58
$78.43
$2,138.79
$(11.61)
$372.28
$159.91
$1,267.37
$39.55
$293.71
$267.16
$846.68
$1,068.47
$248.49
$94.19
$414.75
$1,173.35
$906.43
$1,291.58
$1,747.29
$1,622.10
$1,907.94
$1,809.41
$16.34
$1,022.02
$1,038.69

$1.02
$0.85
$0.62
$0.80
$0.95
$0.67
$0.78
$0.73
$0.57
$0.71
$0.45
$1.08
$0.55
$0.82
$0.57
$0.89
$0.93
$0.87
$0.89
$0.81
$0.67
$0.78
$0.75
$1.05
$0.77
$0.98
$0.89
$0.63
$0.85
$0.99
$1.04
$1.09
$1.04
$0.87
$1.00
$1.11

$0.41
$0.64
$0.58
$0.58
$0.54
$0.33
$0.55
$0.33
$0.40
$0.48
$0.37
$0.46
$0.54
$0.46
$0.57
$0.52
$0.55
$0.37
$0.43
$0.55
$0.54
$0.57
$0.48
$0.40
$0.47
$0.53
$0.53
$0.39
$0.43
$0.67
$0.58
$0.63
$0.40
$0.44
$0.54
$0.88

3.52%
-1.91%
10.00%
2.32%
5.71%
10.00%
4.01%
6.89%
8.04%
-16.76%
10.00%
10.00%
10.00%
-2.19%
10.00%
9.01%
10.00%
1.12%
10.00%
10.00%
7.67%
2.05%
4.56%
10.00%
10.00%
10.00%
6.10%
0.99%
2.90%
10.00%
6.71%
6.52%
3.92%
10.00%
4.79%
10.00%

Page 31

-4.21%
-10.31%
7.82%
10.00%
3.48%
9.65%
3.61%
-10.66%
-16.83%
-2.89%
2.30%
-4.44%
-0.09%
-1.91%
2.41%
3.66%
10.00%
1.33%
10.00%
2.02%
1.83%
8.95%
-4.64%
8.73%
3.36%
3.72%
-3.92%
-2.65%
-3.70%
-7.39%
-5.27%
-5.73%
-7.18%
10.00%
4.34%
2.37%

3045.27
9974.90
0.00
1488.12
1380.09
0.00
1292.95
3316.28
12358.74
46188.18
0.00
1884.65
0.00
4687.87
0.00
0.00
0.00
2492.68
0.00
0.00
0.00
1569.39
2328.64
0.00
0.00
0.00
2360.14
2038.61
2638.37
4134.45
3304.44
3931.95
3859.70
0.00
1695.51
1594.47

2046.37
5572.26
0.00
1052.09
1049.08
0.00
932.23
1672.09
4818.51
18830.62
0.00
1258.15
0.00
2937.19
0.00
0.00
0.00
1679.77
0.00
0.00
0.00
1099.66
1463.15
0.00
0.00
0.00
1558.45
1264.68
1730.57
2435.54
2155.94
2543.93
2444.41
0.00
1276.12
1258.58

1552.41
3868.19
0.00
814.13
843.66
0.00
726.58
1096.73
2777.70
11230.22
0.00
961.58
0.00
2138.79
0.00
0.00
0.00
1267.37
0.00
0.00
0.00
846.68
1068.47
0.00
0.00
0.00
1173.35
906.43
1291.58
1747.29
1622.10
1907.94
1809.41
0.00
1022.02
1038.69

2147.36
6111.98
0.00
1091.70
1074.20
0.00
963.25
1885.86
5918.39
22782.06
0.00
1324.13
0.00
3127.65
0.00
0.00
0.00
1759.87
0.00
0.00
0.00
1143.01
1557.31
0.00
0.00
0.00
1641.77
1347.81
1824.33
2637.67
2278.87
2694.33
2600.47
0.00
1309.18
1281.78

Simulation results

$2,440.88
$1,157.70
$13,235.35
$2,323.29
$1,769.50
$1,279.64
$33,611.88
$4,045.46
$661.86
$888.53
$1,501.91
$3,707.26
$2,608.63
$407.21
$8,139.88
$1,624.88
$3,861.66
$(55.54)
$639.49
$2,825.32
$2,875.74
$63.18
$6,661.03
$2,636.66
$3,073.65
$533.83
$1,910.41
$2,019.68
$(164.90)
$1,130.23
$1,445.39
$2,789.36
$4,956.63
$524.15
$1,214.63
$3,798.26

$1,721.90
$746.68
$7,037.22
$1,312.57
$903.85
$1,099.72
$12,281.11
$2,308.00
$520.48
$468.68
$1,094.72
$2,283.00
$1,737.72
$360.55
$5,058.97
$1,207.68
$2,395.48
$30.99
$581.65
$1,940.73
$1,439.50
$89.64
$4,230.12
$1,560.55
$2,183.66
$461.93
$1,077.93
$1,250.93
$(83.46)
$927.89
$893.79
$1,956.60
$3,299.17
$503.39
$739.61
$2,276.59

$1,336.28
$544.30
$4,767.38
$911.17
$582.60
$944.26
$7,003.33
$1,627.79
$426.11
$304.64
$860.06
$1,645.01
$1,303.64
$310.28
$3,685.79
$961.17
$1,734.67
$53.14
$510.08
$1,482.83
$933.88
$85.84
$3,115.24
$1,113.09
$1,702.71
$394.60
$737.57
$894.44
$(54.84)
$778.42
$640.27
$1,515.35
$2,485.89
$450.96
$519.92
$1,619.00

$0.96
$0.67
$0.80
$0.75
$0.61
$1.37
$0.68
$0.93
$0.86
$0.67
$0.84
$0.70
$0.78
$0.89
$1.14
$0.93
$0.69
$0.86
$1.10
$0.83
$0.70
$0.77
$1.02
$0.82
$1.06
$0.86
$0.63
$0.58
$0.66
$1.13
$0.58
$0.97
$1.10
$0.85
$0.52
$0.67

$0.61
$0.39
$0.97
$0.53
$0.45
$0.57
$0.54
$0.60
$0.60
$0.38
$0.56
$0.50
$0.52
$0.55
$0.39
$0.61
$0.59
$0.50
$0.57
$0.69
$0.42
$0.50
$0.61
$0.40
$0.65
$0.70
$0.38
$0.45
$0.58
$0.58
$0.58
$0.68
$0.45
$1.08
$0.53
$0.56

1.58%
1.18%
-9.35%
10.00%
10.00%
8.62%
1.60%
9.67%
10.00%
10.00%
4.21%
-2.87%
1.64%
10.00%
-3.58%
3.63%
0.26%
10.00%
10.00%
2.44%
9.94%
10.00%
-1.46%
6.16%
3.86%
10.00%
4.84%
-0.72%
10.00%
9.05%
5.65%
1.14%
-0.39%
10.00%
3.91%
-3.70%

Page 32

10.00%
10.00%
10.00%
-6.51%
-6.84%
9.22%
-19.91%
-8.10%
1.94%
-4.87%
3.32%
3.91%
-1.06%
3.91%
-2.30%
8.66%
-4.54%
9.05%
6.15%
-0.26%
-9.29%
4.46%
-4.53%
-7.22%
-0.54%
4.52%
-6.41%
1.36%
6.15%
3.48%
-2.62%
10.00%
-0.98%
8.91%
-1.81%
8.70%

2440.88
1157.70
13235.35
2323.29
1769.50
1279.64
33611.88
4045.46
661.86
888.53
1501.91
3707.26
2608.63
0.00
8139.88
1624.88
3861.66
0.00
639.49
2825.32
2875.74
0.00
6661.03
2636.66
3073.65
0.00
1910.41
2019.68
0.00
1130.23
1445.39
2789.36
4956.63
0.00
1214.63
3798.26

1721.90
746.68
7037.22
1312.57
903.85
1099.72
12281.11
2308.00
0.00
0.00
1094.72
2283.00
1737.72
0.00
5058.97
1207.68
2395.48
0.00
581.65
1940.73
1439.50
0.00
4230.12
1560.55
2183.66
0.00
1077.93
1250.93
0.00
927.89
893.79
1956.60
3299.17
0.00
739.61
2276.59

1336.28
0.00
4767.38
911.17
582.60
944.26
7003.33
1627.79
0.00
0.00
860.06
1645.01
1303.64
0.00
3685.79
961.17
1734.67
0.00
0.00
1482.83
933.88
0.00
3115.24
1113.09
1702.71
0.00
737.57
894.44
0.00
778.42
640.27
1515.35
2485.89
0.00
0.00
1619.00

1788.57
679.55
7822.88
1434.43
1012.73
1104.61
15491.71
2519.45
132.37
177.71
1129.23
2440.26
1825.09
0.00
5400.52
1241.82
2556.55
0.00
476.89
2026.07
1625.62
0.00
4493.32
1686.28
2265.47
0.00
1176.35
1333.38
0.00
938.46
953.41
2034.90
3468.01
0.00
686.69
2449.41

Simulation results

$10,111.91
$266.29
$704.80
$1,097.55
$416.21
$3,476.81
$715.82
$3,740.13
$1,502.55
$(137.23)
$3,484.22
$95.61
$545.02
$2,722.94
$900.53
$4,253.04
$1,427.34
$1,072.98
$126.93
$505.56
$4,952.03
$1,504.37
$18,848.11
$18,009.04
$1,441.16
$345.82
$4,294.09
$4,113.48
$398.59
$3,735.63
$656.79
$1,132.07
$4,701.75
$859.88
$6,839.11
$(398.49)

$4,977.80
$299.42
$352.86
$765.89
$338.85
$2,410.13
$547.39
$1,922.70
$994.12
$(123.30)
$2,369.72
$145.14
$499.68
$1,853.59
$819.72
$2,531.76
$993.91
$764.09
$111.50
$298.82
$3,261.29
$769.22
$6,991.05
$9,126.47
$1,117.10
$332.12
$2,453.29
$1,900.27
$210.01
$2,454.44
$428.87
$781.77
$2,496.79
$569.32
$3,925.28
$(248.34)

$3,223.05
$282.18
$214.93
$593.68
$280.41
$1,854.72
$442.67
$1,273.91
$737.08
$(115.58)
$1,804.31
$145.15
$438.96
$1,409.99
$722.18
$1,792.05
$771.22
$591.35
$90.03
$203.78
$2,451.89
$496.27
$3,977.19
$6,037.63
$909.08
$295.41
$1,732.46
$1,179.30
$126.47
$1,846.78
$312.50
$593.52
$1,667.17
$419.20
$2,768.42
$(182.11)

$0.53
$0.92
$0.56
$0.88
$0.82
$0.98
$0.88
$0.71
$0.63
$0.53
$0.94
$0.88
$1.08
$0.83
$1.31
$0.62
$0.93
$0.77
$0.65
$0.55
$0.99
$0.66
$0.57
$0.80
$1.04
$0.95
$0.94
$0.60
$0.45
$0.94
$0.62
$0.76
$0.55
$0.64
$0.84
$0.67

$0.45
$0.73
$0.47
$0.55
$0.55
$0.70
$0.55
$0.42
$0.52
$0.41
$0.62
$0.51
$0.48
$0.65
$0.61
$0.56
$0.59
$0.48
$0.52
$0.62
$0.88
$0.40
$0.37
$0.73
$0.55
$0.51
$0.55
$0.36
$0.60
$0.77
$0.48
$0.38
$0.41
$0.44
$0.77
$0.55

-4.76%
10.00%
10.00%
10.00%
10.00%
2.77%
10.00%
7.31%
1.80%
4.50%
2.06%
10.00%
10.00%
0.36%
10.00%
-0.97%
10.00%
5.64%
5.85%
10.00%
-1.89%
10.00%
2.58%
-10.98%
4.97%
10.00%
8.11%
7.02%
8.03%
5.50%
6.42%
4.23%
-0.39%
2.22%
3.88%
10.00%

Page 33

-13.00%
9.73%
-3.47%
-1.39%
2.41%
-1.04%
1.02%
-10.00%
1.91%
9.96%
-1.59%
7.33%
5.32%
6.05%
8.97%
-5.68%
-1.83%
0.85%
9.31%
-0.41%
10.00%
-6.79%
-19.05%
2.50%
10.00%
5.19%
-8.57%
-11.78%
-0.15%
-4.19%
-0.03%
0.69%
-9.77%
8.04%
-8.68%
10.00%

10111.91
0.00
704.80
1097.55
0.00
3476.81
715.82
3740.13
1502.55
0.00
3484.22
0.00
0.00
2722.94
900.53
4253.04
1427.34
1072.98
0.00
0.00
4952.03
1504.37
18848.11
18009.04
1441.16
0.00
4294.09
4113.48
0.00
3735.63
656.79
1132.07
4701.75
859.88
6839.11
0.00

4977.80
0.00
0.00
765.89
0.00
2410.13
0.00
1922.70
994.12
0.00
2369.72
0.00
0.00
1853.59
819.72
2531.76
993.91
764.09
0.00
0.00
3261.29
769.22
6991.05
9126.47
1117.10
0.00
2453.29
1900.27
0.00
2454.44
0.00
781.77
2496.79
0.00
3925.28
0.00

3223.05
0.00
0.00
593.68
0.00
1854.72
0.00
1273.91
737.08
0.00
1804.31
0.00
0.00
1409.99
722.18
1792.05
771.22
591.35
0.00
0.00
2451.89
0.00
3977.19
6037.63
909.08
0.00
1732.46
1179.30
0.00
1846.78
0.00
593.52
1667.17
0.00
2768.42
0.00

5653.67
0.00
140.96
797.78
0.00
2512.39
143.16
2156.43
1044.40
0.00
2479.54
0.00
0.00
1938.74
816.37
2728.07
1036.06
791.32
0.00
0.00
3437.56
762.40
8759.69
10285.22
1140.30
0.00
2677.28
2198.72
0.00
2589.15
131.36
814.18
2771.86
171.98
4276.67
0.00

Simulation results

$4,668.40
$4,089.69
$1,153.34
$1,997.43
$2,051.62
$2,953.42
$3,186.97
$1,217.12
$4,230.37
$6,865.38
$(402.70)
$6,467.18
$(292.76)
$2,099.40
$36,325.87
$6,822.51
$79.18
$33,660.18
$2,191.28
$3,337.29
$826.76
$3,563.00
$(250.78)
$11,979.36
$401.98
$4,399.30
$3,416.62
$121.24
$731.29
$1,123.98
$2,763.44
$8,920.30
$647.46
$10,720.61
$3,448.13
$1,383.54

$2,845.68
$2,379.73
$813.91
$1,348.28
$1,415.39
$2,153.84
$2,220.61
$867.73
$2,503.85
$3,835.54
$(279.19)
$3,639.38
$(160.89)
$1,403.94
$14,028.92
$4,087.83
$56.41
$12,931.75
$1,517.49
$2,137.76
$630.57
$2,262.29
$(126.29)
$5,598.18
$366.69
$2,470.76
$2,267.48
$46.67
$619.96
$710.27
$1,497.81
$5,240.14
$560.45
$5,900.14
$1,986.50
$1,099.34

$2,040.57
$1,686.89
$625.41
$1,017.45
$1,084.38
$1,717.59
$1,717.14
$674.50
$1,780.48
$2,645.33
$(220.56)
$2,545.27
$(107.79)
$1,054.75
$8,308.79
$2,916.54
$39.80
$7,588.64
$1,178.94
$1,571.65
$508.92
$1,656.75
$(78.51)
$3,601.16
$318.66
$1,717.40
$1,706.71
$14.60
$526.57
$520.49
$1,014.57
$3,706.03
$479.02
$4,039.50
$1,409.71
$909.27

$0.74
$0.82
$0.67
$0.83
$0.83
$1.43
$0.99
$0.71
$0.77
$0.64
$0.59
$0.85
$0.79
$0.63
$0.94
$0.86
$0.69
$0.76
$1.10
$0.72
$0.95
$0.75
$0.71
$0.88
$0.83
$0.74
$0.92
$0.64
$0.93
$0.75
$0.68
$0.95
$1.00
$0.79
$0.97
$1.20

$0.44
$0.55
$0.62
$0.37
$0.59
$0.65
$0.77
$0.74
$0.47
$0.61
$0.48
$0.77
$0.42
$0.78
$0.53
$0.44
$0.44
$0.58
$0.63
$0.56
$0.41
$0.51
$0.62
$0.50
$0.67
$0.58
$0.55
$0.34
$0.74
$0.52
$0.56
$0.38
$0.49
$0.45
$0.53
$0.51

-3.27%
5.55%
3.95%
2.84%
4.85%
9.07%
4.91%
7.27%
1.94%
-1.57%
10.00%
6.33%
10.00%
0.08%
-1.72%
-4.63%
10.00%
-0.86%
10.00%
-1.38%
8.57%
0.03%
10.00%
3.75%
7.40%
5.70%
2.68%
8.62%
10.00%
9.83%
10.00%
-5.30%
7.42%
-7.82%
10.00%
8.86%

Page 34

-0.83%
-7.92%
2.98%
-1.36%
-1.25%
-2.52%
-1.78%
0.81%
-7.68%
-8.97%
5.72%
-8.88%
10.00%
5.46%
-20.02%
-0.73%
1.38%
-19.42%
-3.03%
1.49%
0.35%
-3.35%
10.00%
-14.76%
10.00%
-8.39%
-3.55%
-0.74%
4.43%
-2.86%
-7.29%
-4.50%
10.00%
-3.12%
-7.94%
1.56%

4668.40
4089.69
1153.34
1997.43
2051.62
2953.42
3186.97
1217.12
4230.37
6865.38
0.00
6467.18
0.00
2099.40
36325.87
6822.51
0.00
33660.18
2191.28
3337.29
826.76
3563.00
0.00
11979.36
0.00
4399.30
3416.62
0.00
731.29
1123.98
2763.44
8920.30
647.46
10720.61
3448.13
1383.54

2845.68
2379.73
813.91
1348.28
1415.39
2153.84
2220.61
867.73
2503.85
3835.54
0.00
3639.38
0.00
1403.94
14028.92
4087.83
0.00
12931.75
1517.49
2137.76
630.57
2262.29
0.00
5598.18
0.00
2470.76
2267.48
0.00
619.96
710.27
1497.81
5240.14
0.00
5900.14
1986.50
1099.34

2040.57
1686.89
625.41
1017.45
1084.38
1717.59
1717.14
674.50
1780.48
2645.33
0.00
2545.27
0.00
1054.75
8308.79
2916.54
0.00
7588.64
1178.94
1571.65
0.00
1656.75
0.00
3601.16
0.00
1717.40
1706.71
0.00
0.00
0.00
1014.57
3706.03
0.00
4039.50
1409.71
909.27

3049.20
2583.15
844.10
1411.95
1476.43
2226.51
2313.19
898.96
2704.48
4203.47
0.00
3986.12
0.00
1473.19
17344.28
4400.51
0.00
16008.81
1584.53
2264.44
543.69
2401.32
0.00
6475.01
0.00
2705.79
2385.15
0.00
518.24
650.96
1654.29
5669.35
129.49
6492.11
2163.47
1118.17

Simulation results

$8,739.15
$345.34
$11.14
$1,378.83
$16,053.36
$94,020.76
$1,254.58
$(357.60)
$804.48
$2,309.82
$17,599.72
$9,695.81
$1,004.39
$(47.39)
$7,599.06
$779.97
$1,096.00
$1,115.55
$735.50
$2,825.61
$1,452.75
$1,201.08
$4,311.79
$33,660.03
$9,739.28
$71.76
$2,700.79
$225.90
$2,888.12
$1,931.88
$14,034.39
$(639.31)
$5,595.38
$8,785.21
$901.94
$2,354.09

$5,101.76
$157.00
$(8.31)
$1,056.53
$8,251.47
$31,830.33
$1,117.75
$(227.64)
$704.89
$1,336.57
$7,281.66
$5,206.97
$836.07
$11.83
$3,982.88
$725.55
$855.82
$804.79
$483.25
$1,832.73
$1,001.11
$830.27
$2,827.01
$12,720.76
$5,367.55
$121.28
$1,807.40
$243.50
$1,853.31
$1,421.93
$7,918.85
$(447.32)
$3,490.52
$3,618.72
$501.99
$1,271.74

$3,641.33
$77.56
$(18.30)
$855.48
$5,487.12
$17,410.18
$977.77
$(170.63)
$609.23
$938.91
$4,463.74
$3,573.55
$706.18
$25.47
$2,649.31
$644.79
$702.30
$626.36
$351.83
$1,358.72
$762.78
$635.92
$2,110.09
$7,403.54
$3,669.74
$122.75
$1,366.86
$224.54
$1,362.28
$1,126.85
$5,521.57
$(351.02)
$2,540.53
$2,123.61
$330.54
$863.68

$1.19
$0.50
$0.64
$1.02
$0.75
$0.58
$1.41
$0.62
$1.15
$0.73
$1.17
$0.96
$1.05
$0.77
$0.54
$1.21
$1.06
$0.75
$0.62
$0.77
$0.87
$0.83
$0.83
$1.01
$0.66
$0.76
$0.96
$0.89
$0.72
$0.99
$1.09
$0.59
$0.87
$0.45
$0.57
$0.78

$0.42
$0.37
$0.44
$0.54
$0.67
$0.51
$0.85
$0.57
$0.55
$0.58
$0.42
$0.64
$0.74
$0.47
$0.52
$0.73
$0.57
$0.54
$0.42
$0.53
$0.27
$0.43
$0.70
$0.65
$0.57
$0.68
$0.39
$0.57
$0.50
$0.57
$0.68
$0.43
$0.50
$0.41
$0.32
$0.43

0.12%
5.41%
10.00%
7.34%
-10.54%
-21.23%
10.00%
10.00%
10.00%
9.84%
6.96%
2.57%
10.00%
10.00%
-8.66%
10.00%
10.00%
3.85%
2.81%
2.46%
4.05%
6.72%
-0.85%
7.56%
-6.48%
8.65%
3.70%
10.00%
-1.07%
3.28%
-7.66%
10.00%
-2.98%
4.93%
4.68%
10.00%

Page 35

-11.04%
-1.22%
1.01%
1.61%
-0.53%
-7.76%
10.00%
7.76%
4.93%
-5.81%
-17.85%
-11.57%
3.98%
5.42%
2.88%
10.00%
0.96%
4.89%
4.97%
-3.38%
-1.37%
-1.52%
-0.29%
-19.12%
-7.99%
10.00%
-4.07%
6.47%
3.01%
8.15%
5.60%
10.00%
-0.96%
-15.07%
-3.84%
-7.87%

8739.15
0.00
0.00
1378.83
16053.36
94020.76
1254.58
0.00
804.48
2309.82
17599.72
9695.81
1004.39
0.00
7599.06
779.97
1096.00
1115.55
735.50
2825.61
1452.75
1201.08
4311.79
33660.03
9739.28
0.00
2700.79
0.00
2888.12
1931.88
14034.39
0.00
5595.38
8785.21
901.94
2354.09

5101.76
0.00
0.00
1056.53
8251.47
31830.33
1117.75
0.00
704.89
1336.57
7281.66
5206.97
836.07
0.00
3982.88
725.55
855.82
804.79
0.00
1832.73
1001.11
830.27
2827.01
12720.76
5367.55
0.00
1807.40
0.00
1853.31
1421.93
7918.85
0.00
3490.52
3618.72
0.00
1271.74

3641.33
0.00
0.00
855.48
5487.12
17410.18
977.77
0.00
609.23
938.91
4463.74
3573.55
706.18
0.00
2649.31
644.79
702.30
626.36
0.00
1358.72
762.78
635.92
2110.09
7403.54
3669.74
0.00
1366.86
0.00
1362.28
1126.85
5521.57
0.00
2540.53
2123.61
0.00
863.68

5537.15
0.00
0.00
1080.78
9258.98
41384.38
1117.12
0.00
705.68
1451.69
8781.69
5778.06
843.76
0.00
4439.40
720.28
873.16
831.26
147.10
1936.50
1043.77
865.56
2980.58
15845.17
5902.33
0.00
1897.97
0.00
1962.07
1464.91
8662.50
0.00
3721.49
4353.00
180.39
1406.60

Simulation results

$243.83
$1,888.03
$3,332.40
$4,186.73
$1,699.05
$(124.72)
$2,380.25
$5,848.53
$3,133.87
$2,390.66
$(550.97)
$1,938.59
$5,684.74
$706.29
$(257.01)
$4,480.08
$(300.93)
$3,166.91
$47,260.06
$1,239.38
$4,582.65
$2,865.09
$(20.57)
$(360.11)
$596.15
$4,936.17
$2,931.30
$994.87
$2,590.37
$1,332.11
$840.84
$66.26
$490.54
$17,320.13
$4,425.56
$2,087.50

$174.36
$1,520.25
$2,038.27
$2,668.12
$1,271.50
$(73.39)
$1,668.26
$2,953.71
$1,962.59
$1,690.98
$(374.27)
$1,362.14
$3,144.25
$467.24
$(202.08)
$2,407.58
$(167.69)
$2,386.09
$18,408.23
$764.58
$2,810.34
$1,629.18
$40.30
$(218.32)
$470.89
$2,772.25
$1,841.81
$639.81
$1,612.97
$1,018.70
$641.51
$102.66
$318.73
$7,786.79
$2,986.02
$1,345.99

$129.72
$1,266.11
$1,464.42
$1,962.04
$1,018.15
$(55.16)
$1,289.53
$1,944.30
$1,425.93
$1,313.19
$(288.95)
$1,061.70
$2,142.41
$344.04
$(172.53)
$1,638.52
$(113.60)
$1,920.34
$10,930.17
$541.36
$2,038.15
$1,132.70
$51.88
$(157.39)
$383.50
$1,927.18
$1,351.65
$468.33
$1,194.57
$821.71
$521.13
$101.22
$227.18
$4,819.49
$2,265.53
$1,005.47

$0.61
$1.37
$0.64
$0.90
$0.96
$0.73
$0.93
$0.70
$0.75
$0.84
$0.68
$0.99
$0.44
$0.69
$0.54
$0.77
$0.74
$1.29
$0.98
$0.55
$0.89
$0.71
$0.78
$0.77
$0.82
$0.71
$0.82
$0.69
$1.11
$1.01
$1.04
$0.80
$0.59
$0.52
$1.03
$0.91

$0.54
$0.63
$0.60
$0.37
$0.71
$0.36
$0.56
$0.64
$0.44
$0.79
$0.36
$0.66
$0.72
$0.38
$0.47
$0.63
$0.50
$0.85
$0.74
$0.47
$0.46
$0.41
$0.50
$0.36
$0.50
$0.85
$0.56
$0.44
$0.44
$0.42
$0.38
$0.51
$0.43
$0.37
$0.60
$0.54

4.39%
8.35%
1.64%
-0.32%
7.22%
10.00%
4.14%
10.00%
-1.94%
4.49%
10.00%
8.92%
-7.19%
5.99%
10.00%
10.00%
10.00%
3.58%
-2.48%
3.03%
1.71%
4.76%
9.20%
10.00%
7.82%
10.00%
5.26%
6.73%
10.00%
4.93%
10.00%
10.00%
4.15%
-13.48%
-0.27%
8.89%

Page 36

10.00%
3.31%
-4.92%
-4.42%
1.19%
2.74%
-0.85%
-10.30%
7.51%
0.17%
10.00%
-1.92%
-1.43%
-0.55%
2.57%
-8.81%
10.00%
7.83%
-19.66%
-1.45%
-7.27%
-7.79%
7.56%
9.40%
3.07%
-7.48%
-5.28%
-2.07%
-6.76%
7.53%
-0.80%
5.35%
3.16%
-0.58%
1.91%
-4.42%

0.00
1888.03
3332.40
4186.73
1699.05
0.00
2380.25
5848.53
3133.87
2390.66
0.00
1938.59
5684.74
706.29
0.00
4480.08
0.00
3166.91
47260.06
1239.38
4582.65
2865.09
0.00
0.00
596.15
4936.17
2931.30
994.87
2590.37
1332.11
840.84
0.00
0.00
17320.13
4425.56
2087.50

0.00
1520.25
2038.27
2668.12
1271.50
0.00
1668.26
2953.71
1962.59
1690.98
0.00
1362.14
3144.25
0.00
0.00
2407.58
0.00
2386.09
18408.23
764.58
2810.34
1629.18
0.00
0.00
0.00
2772.25
1841.81
639.81
1612.97
1018.70
641.51
0.00
0.00
7786.79
2986.02
1345.99

0.00
1266.11
1464.42
1962.04
1018.15
0.00
1289.53
1944.30
1425.93
1313.19
0.00
1061.70
2142.41
0.00
0.00
1638.52
0.00
1920.34
10930.17
0.00
2038.15
1132.70
0.00
0.00
0.00
1927.18
1351.65
0.00
1194.57
821.71
0.00
0.00
0.00
4819.49
2265.53
1005.47

0.00
1542.97
2182.32
2830.62
1306.34
0.00
1734.91
3330.79
2089.51
1755.36
0.00
1417.34
3451.98
141.26
0.00
2668.27
0.00
2449.10
22682.98
706.62
3010.37
1777.07
0.00
0.00
119.23
3036.02
1961.68
582.86
1724.77
1041.98
553.07
0.00
0.00
9100.00
3129.83
1426.19

Simulation results

$3,406.91
$2,881.06
$3,834.07
$4,318.84
$671.94
$5,998.11
$6,367.29
$4,097.01
$781.55
$1,056.26
$3,433.39
$1,486.42
$(94.87)
$784.29
$1,064.63
$547.51
$29,957.56
$8,611.43
$(237.71)
$11,571.98
$(174.00)
$4,172.21
$3,767.78
$941.03
$5,132.15
$7,284.33
$2,027.80
$1,226.23
$6,836.96
$6,256.50
$2,922.20
$2,264.51
$(463.90)
$1,991.75
$6,088.12
$(560.61)

$1,896.32
$1,908.22
$2,495.62
$2,546.03
$572.33
$3,316.69
$4,075.11
$2,661.83
$518.85
$712.46
$2,188.95
$1,118.50
$(93.94)
$530.14
$878.08
$530.53
$12,861.39
$4,753.38
$(115.50)
$6,844.66
$(85.18)
$2,252.19
$2,195.14
$703.31
$3,401.45
$4,177.08
$1,017.49
$887.62
$3,715.23
$3,569.84
$1,974.10
$1,472.08
$(302.35)
$1,027.76
$3,156.22
$(397.56)

$1,295.98
$1,431.03
$1,859.28
$1,818.03
$487.50
$2,308.79
$3,014.24
$1,979.07
$381.47
$543.27
$1,611.17
$896.22
$(93.65)
$402.51
$736.38
$477.84
$7,974.45
$3,258.68
$(69.35)
$4,874.62
$(53.64)
$1,546.43
$1,529.89
$563.75
$2,592.23
$2,918.72
$651.34
$694.11
$2,518.16
$2,487.16
$1,497.92
$1,087.54
$(227.92)
$667.95
$2,130.36
$(315.74)

$0.60
$0.88
$0.96
$0.87
$1.04
$0.97
$1.07
$0.85
$0.63
$0.88
$0.75
$0.91
$0.54
$0.80
$1.14
$1.15
$1.08
$0.79
$0.71
$1.07
$0.74
$0.90
$0.58
$0.93
$1.42
$0.82
$0.61
$0.88
$0.60
$0.67
$0.90
$0.72
$0.69
$0.59
$0.94
$0.58

$0.41
$0.47
$0.41
$0.51
$0.50
$0.40
$0.55
$0.61
$0.43
$0.46
$0.69
$0.69
$0.37
$0.48
$0.43
$0.57
$0.90
$0.46
$0.64
$0.65
$0.46
$0.40
$0.45
$0.53
$0.78
$0.49
$0.44
$0.38
$0.46
$0.68
$0.61
$0.45
$0.44
$0.50
$0.48
$0.41

1.62%
-0.30%
1.38%
4.56%
10.00%
3.47%
-0.89%
0.85%
2.57%
10.00%
-2.08%
3.85%
5.72%
10.00%
7.41%
10.00%
4.66%
-7.25%
10.00%
-4.22%
10.00%
7.17%
-1.74%
9.74%
7.78%
-6.02%
10.00%
3.47%
-3.45%
-6.23%
0.03%
1.74%
10.00%
10.00%
7.71%
10.00%

Page 37

-8.14%
10.00%
-4.73%
-8.14%
3.18%
-11.21%
-4.85%
-3.46%
6.77%
-2.45%
8.67%
10.00%
4.12%
-1.45%
6.37%
9.38%
-16.68%
10.00%
10.00%
-7.73%
6.14%
-10.30%
-5.72%
0.11%
-5.75%
9.45%
-7.65%
10.00%
-9.72%
7.63%
10.00%
-1.93%
10.00%
-6.86%
-11.45%
6.77%

3406.91
2881.06
3834.07
4318.84
671.94
5998.11
6367.29
4097.01
781.55
1056.26
3433.39
1486.42
0.00
784.29
1064.63
0.00
29957.56
8611.43
0.00
11571.98
0.00
4172.21
3767.78
941.03
5132.15
7284.33
2027.80
1226.23
6836.96
6256.50
2922.20
2264.51
0.00
1991.75
6088.12
0.00

1896.32
1908.22
2495.62
2546.03
0.00
3316.69
4075.11
2661.83
0.00
712.46
2188.95
1118.50
0.00
0.00
878.08
0.00
12861.39
4753.38
0.00
6844.66
0.00
2252.19
2195.14
703.31
3401.45
4177.08
1017.49
887.62
3715.23
3569.84
1974.10
1472.08
0.00
1027.76
3156.22
0.00

1295.98
1431.03
1859.28
1818.03
0.00
2308.79
3014.24
1979.07
0.00
0.00
1611.17
896.22
0.00
0.00
736.38
0.00
7974.45
3258.68
0.00
4874.62
0.00
1546.43
1529.89
563.75
2592.23
2918.72
651.34
694.11
2518.16
2487.16
1497.92
1087.54
0.00
667.95
2130.36
0.00

2078.37
2007.35
2636.04
2754.99
134.39
3651.39
4321.37
2812.31
156.31
638.73
2322.29
1147.62
0.00
156.86
887.05
0.00
15303.23
5226.05
0.00
7396.12
0.00
2495.04
2376.62
722.94
3585.75
4546.86
1146.32
916.64
4100.16
3890.64
2068.48
1553.66
0.00
1148.60
3537.43
0.00

Simulation results

$283.21
$62.95
$1,004.57
$4,856.47
$3,193.43
$142.76
$8,155.44
$(392.75)
$1,071.63
$55.81
$8,336.13
$12,163.20
$5,432.27
$4,222.77
$10,667.37
$6,549.59
$8,942.01
$7,124.43
$832.97
$2,898.16
$1,859.11
$2,766.22
$4,229.81
$1,284.88
$(152.93)
$2,891.23
$3,758.22
$630.83
$7,838.11
$6,189.12
$5,339.83
$468.84
$1,549.33
$279.62
$3,933.19
$970.84

$202.05
$44.83
$649.00
$2,816.98
$2,213.65
$14.10
$5,002.37
$(244.49)
$782.94
$66.73
$5,032.20
$6,240.47
$3,112.11
$2,577.07
$5,019.26
$3,713.30
$4,647.06
$4,528.28
$342.38
$1,618.01
$1,321.37
$1,689.10
$2,971.49
$970.05
$(68.37)
$2,043.80
$2,212.70
$576.52
$4,740.59
$3,782.26
$3,375.87
$380.11
$1,217.57
$197.05
$2,433.56
$605.34

$150.29
$30.70
$480.07
$1,969.79
$1,720.57
$(26.12)
$3,630.02
$(179.28)
$615.02
$58.23
$3,613.38
$4,187.04
$2,205.41
$1,853.62
$3,213.96
$2,602.05
$3,141.99
$3,363.73
$168.03
$1,094.18
$1,026.88
$1,204.12
$2,331.17
$782.97
$(39.76)
$1,589.10
$1,549.75
$506.51
$3,406.92
$2,729.78
$2,477.02
$311.56
$1,004.75
$145.30
$1,757.17
$428.83

$0.60
$0.75
$0.72
$0.65
$1.19
$0.67
$1.09
$0.66
$0.79
$0.60
$0.88
$0.93
$1.02
$0.66
$0.69
$0.88
$0.98
$1.29
$0.40
$0.48
$0.93
$0.66
$1.54
$0.99
$0.69
$1.05
$0.60
$1.06
$0.94
$0.91
$0.96
$0.76
$1.27
$0.61
$0.70
$0.55

$0.51
$0.30
$0.58
$0.50
$0.88
$0.26
$0.68
$0.56
$0.57
$0.67
$0.74
$0.47
$0.51
$0.68
$0.53
$0.49
$0.70
$0.65
$0.49
$0.45
$0.43
$0.34
$0.90
$0.67
$0.57
$0.58
$0.40
$0.65
$0.56
$0.44
$0.45
$0.54
$0.57
$0.48
$0.52
$0.47

5.79%
9.22%
10.00%
-5.07%
10.00%
10.00%
-4.49%
10.00%
3.49%
6.06%
-2.86%
-1.47%
5.68%
0.86%
2.45%
1.44%
7.45%
2.43%
9.54%
-4.50%
4.33%
-1.96%
10.00%
10.00%
10.00%
1.50%
-3.59%
10.00%
-4.82%
-1.70%
-2.74%
6.92%
10.00%
4.78%
-1.01%
1.02%

Page 38

4.35%
0.51%
-1.83%
4.50%
-2.89%
-3.82%
10.00%
9.80%
10.00%
10.00%
-6.35%
-13.79%
-9.63%
-5.35%
-13.94%
-10.05%
-11.46%
-7.41%
-4.71%
3.75%
-0.08%
2.00%
-3.55%
0.51%
6.60%
9.47%
-1.13%
6.63%
1.35%
-6.73%
3.82%
5.38%
0.56%
6.66%
-3.90%
5.59%

0.00
0.00
1004.57
4856.47
3193.43
0.00
8155.44
0.00
1071.63
0.00
8336.13
12163.20
5432.27
4222.77
10667.37
6549.59
8942.01
7124.43
832.97
2898.16
1859.11
2766.22
4229.81
1284.88
0.00
2891.23
3758.22
630.83
7838.11
6189.12
5339.83
0.00
1549.33
0.00
3933.19
970.84

0.00
0.00
649.00
2816.98
2213.65
0.00
5002.37
0.00
782.94
0.00
5032.20
6240.47
3112.11
2577.07
5019.26
3713.30
4647.06
4528.28
0.00
1618.01
1321.37
1689.10
2971.49
970.05
0.00
2043.80
2212.70
576.52
4740.59
3782.26
3375.87
0.00
1217.57
0.00
2433.56
605.34

0.00
0.00
0.00
1969.79
1720.57
0.00
3630.02
0.00
615.02
0.00
3613.38
4187.04
2205.41
1853.62
3213.96
2602.05
3141.99
3363.73
0.00
1094.18
1026.88
1204.12
2331.17
782.97
0.00
1589.10
1549.75
0.00
3406.92
2729.78
2477.02
0.00
1004.75
0.00
1757.17
0.00

0.00
0.00
590.32
3055.44
2310.99
0.00
5358.51
0.00
807.09
0.00
5409.22
7014.33
3394.80
2761.52
5787.82
4058.31
5205.04
4814.60
166.59
1769.28
1370.02
1807.53
3095.09
995.60
0.00
2122.34
2389.21
472.08
5093.36
4053.14
3588.89
0.00
1241.36
0.00
2598.21
557.37

Simulation results

$2,103.00
$1,837.92
$12,466.23
$3,710.01
$847.70
$(410.70)
$1,736.52
$386.37
$1,756.22
$1,415.51
$1,358.39
$2,421.03
$3,179.22
$7,457.47
$(240.91)

$1,544.06
$1,229.59
$5,438.73
$2,550.30
$574.92
$(315.52)
$1,200.80
$145.03
$1,118.54
$1,071.26
$848.77
$1,736.12
$1,949.92
$3,841.11
$(131.56)

$1,223.78
$921.57
$3,373.55
$1,956.84
$430.21
$(264.83)
$926.79
$57.20
$812.35
$861.81
$607.37
$1,357.51
$1,404.17
$2,552.09
$(89.20)

$1.16
$0.65
$0.94
$1.12
$0.69
$0.50
$0.96
$0.51
$0.61
$1.01
$0.46
$1.00
$0.65
$0.65
$0.69

$0.31
$0.64
$0.52
$0.49
$0.43
$0.39
$0.49
$0.45
$0.47
$0.52
$0.70
$0.54
$0.61
$0.40
$0.56

4.98%
3.07%
10.00%
2.81%
2.61%
5.92%
7.74%
10.00%
0.12%
7.06%
-0.39%
3.70%
2.49%
-1.50%
10.00%

Page 39

-0.54%
-0.25%
-15.29%
-2.88%
10.00%
8.79%
-2.66%
-2.85%
2.86%
1.17%
4.74%
0.88%
-4.94%
-12.22%
7.67%

2103.00
1837.92
12466.23
3710.01
847.70
0.00
1736.52
0.00
1756.22
1415.51
1358.39
2421.03
3179.22
7457.47
0.00

1544.06
1229.59
5438.73
2550.30
574.92
0.00
1200.80
0.00
1118.54
1071.26
848.77
1736.12
1949.92
3841.11
0.00

1223.78
921.57
3373.55
1956.84
0.00
0.00
926.79
0.00
812.35
861.81
607.37
1357.51
1404.17
2552.09
0.00

1591.79
1289.65
6431.19
2663.55
514.49
0.00
1253.14
0.00
1184.84
1098.22
902.41
1797.38
2086.63
4306.58
0.00

y) PV at year 2
PV INVST
(574.09)
(463.21)
(118.63)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(118.63)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
0.00
0.00
0.00
(463.21)
(574.09)
0.00

Simulation results

Option II (With Penalty) PV at year 2


PV HI
PV EX
PV LO
TOT PV PV INVST PENALTY
4172.33
2150.09
1409.68
2406.45 (574.09)
869.46
1484.12
0.00
0.00
296.82 (118.63)
175.14
0.00
0.00
0.00
0.00
0.00
0.00
8114.32
4855.23
3467.06
5229.41 (574.09)
869.46
0.00
0.00
0.00
0.00
0.00
0.00
1062.52
0.00
0.00
212.50 (118.63)
175.14
0.00
0.00
0.00
0.00
0.00
0.00
2909.16
1819.36
1328.29
1939.11 (574.09)
869.46
0.00
0.00
0.00
0.00
0.00
0.00
1493.63
1277.05
1095.07
1283.97 (574.09)
869.46
2475.05
1603.94
1208.15
1699.00 (574.09)
869.46
0.00
0.00
0.00
0.00
0.00
0.00
8707.11
4864.60
3355.11
5331.21 (574.09)
869.46
1901.94
1356.24
1068.29
1407.79 (574.09)
869.46
4190.00
2774.11
2081.41
2918.75 (574.09)
869.46
5454.03
2825.14
1884.55
3162.80 (574.09)
869.46
4938.32
2675.42
1835.93
2960.10 (574.09)
869.46
0.00
0.00
0.00
0.00
0.00
0.00
2439.98
1479.49
1051.39
1585.97 (574.09)
869.46
5096.73
3701.73
2926.56
3825.69 (574.09)
869.46
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1000.11
0.00
0.00
200.02 (118.63)
175.14
1495.74
1019.99
0.00
911.14 (463.21)
696.78
941.56
0.00
0.00
188.31 (118.63)
175.14
3065.03
1797.95
1269.30
1945.63 (574.09)
869.46
0.00
0.00
0.00
0.00
0.00
0.00
1394.89
1036.87
0.00
901.10 (463.21)
696.78
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1389.46
0.00
0.00
277.89 (118.63)
175.14
5168.98
2983.11
2100.93
3243.85 (574.09)
869.46
0.00
0.00
0.00
0.00
0.00
0.00

Page 40

Simulation results

(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(463.21)
(574.09)
(463.21)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
0.00
(574.09)

2650.97
1594.74
0.00
0.00
1375.55
3356.30
0.00
1100.72
3520.95
7053.31
10274.31
2532.28
4638.28
5262.80
0.00
4165.74
1060.75
0.00
1329.38
0.00
5157.00
6419.25
896.96
1701.92
949.23
1440.44
4774.42
0.00
4682.86
1799.02
935.26
1109.13
0.00
12118.27
0.00
11560.98

1347.04
1029.40
0.00
0.00
967.80
1596.07
0.00
0.00
2222.56
4485.20
6364.80
1633.05
2810.60
3371.02
0.00
2323.51
0.00
0.00
0.00
0.00
3209.09
3303.68
0.00
1088.77
0.00
1011.06
2667.82
0.00
2553.01
1250.69
0.00
0.00
0.00
6562.27
0.00
6135.66

874.81
0.00
0.00
0.00
0.00
1005.81
0.00
0.00
1625.18
3308.44
4644.57
1200.86
2046.52
2490.14
0.00
1597.93
0.00
0.00
0.00
0.00
2334.91
2221.70
0.00
0.00
0.00
0.00
1877.81
0.00
1737.51
964.03
0.00
0.00
0.00
4466.78
0.00
4179.74

1513.38
936.59
0.00
0.00
855.79
1830.06
0.00
220.14
2362.76
4763.47
6802.66
1726.46
3023.32
3573.20
0.00
2546.84
212.15
0.00
265.88
0.00
3423.84
3710.40
179.39
993.65
189.85
894.72
2931.14
0.00
2815.88
1303.02
187.05
221.83
0.00
7254.37
0.00
6829.54

(574.09)
(463.21)
0.00
0.00
(463.21)
(574.09)
0.00
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(118.63)
0.00
(118.63)
0.00
(574.09)
(574.09)
(118.63)
(463.21)
(118.63)
(463.21)
(574.09)
0.00
(574.09)
(574.09)
(118.63)
(118.63)
0.00
(574.09)
0.00
(574.09)

869.46
696.78
0.00
0.00
696.78
869.46
0.00
175.14
869.46
869.46
869.46
869.46
869.46
869.46
0.00
869.46
175.14
0.00
175.14
0.00
869.46
869.46
175.14
696.78
175.14
696.78
869.46
0.00
869.46
869.46
175.14
175.14
0.00
869.46
0.00
869.46

Page 41

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)

3451.72
2947.64
9034.94
2383.72
0.00
5649.40
2333.15
0.00
3125.85
1905.20
0.00
0.00
1029.98
3562.57
1762.77
2460.34
4419.14
1642.82
12838.66
0.00
9579.58
2904.69
906.91
2870.95
3063.10
3281.12
4585.43
1851.62
0.00
0.00
0.00
7067.63
1840.46
0.00
18468.16
4288.08

2149.18
1773.93
4591.81
1674.15
0.00
3465.72
1551.53
0.00
1904.54
1184.53
0.00
0.00
0.00
2157.72
1159.61
1677.11
2710.81
1140.34
6530.06
0.00
5059.79
2151.86
0.00
2104.71
2056.92
2256.70
2583.45
1318.91
0.00
0.00
0.00
3568.53
1266.57
0.00
9705.25
2056.88

1561.04
1262.66
2994.47
1304.43
0.00
2550.21
1161.32
0.00
1383.40
0.00
0.00
0.00
0.00
1548.31
0.00
1277.60
1951.87
887.02
4314.93
0.00
3428.36
1729.15
0.00
1667.35
1575.98
1727.70
1767.76
1034.54
0.00
0.00
0.00
2338.11
978.22
0.00
6524.77
1316.54

2292.06
1906.42
5160.97
1742.12
0.00
3719.35
1629.81
0.00
2044.57
1091.76
0.00
0.00
206.00
2316.81
1048.32
1753.86
2900.69
1190.17
7348.76
0.00
5637.46
2217.88
181.38
2170.49
2161.97
2355.78
2820.71
1368.58
0.00
0.00
0.00
4022.26
1323.68
0.00
10821.73
2355.05

(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(463.21)
0.00
0.00
(118.63)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)

869.46
869.46
869.46
869.46
0.00
869.46
869.46
0.00
869.46
696.78
0.00
0.00
175.14
869.46
696.78
869.46
869.46
869.46
869.46
0.00
869.46
869.46
175.14
869.46
869.46
869.46
869.46
869.46
0.00
0.00
0.00
869.46
869.46
0.00
869.46
869.46

Page 42

Simulation results

(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(463.21)
(574.09)
0.00
(574.09)
(574.09)
(574.09)

4043.67
937.94
6128.24
4862.39
890.29
7487.01
0.00
1865.23
2080.43
1450.44
1932.11
3097.56
2219.17
1959.95
28360.39
0.00
0.00
3940.26
5892.05
0.00
7943.48
5773.25
0.00
4894.90
1962.74
2157.96
5385.04
0.00
7071.45
1620.35
0.00
1047.01
0.00
6192.11
4104.50
3441.98

2701.92
0.00
4070.15
3240.63
0.00
4041.98
0.00
999.98
1386.49
0.00
1394.07
1964.53
1678.38
1343.13
11998.13
0.00
0.00
2727.05
3617.17
0.00
3890.26
3088.83
0.00
3094.25
1305.23
1547.41
3082.81
0.00
3927.40
960.13
0.00
0.00
0.00
3875.78
2390.62
2337.60

2037.06
0.00
3069.22
2449.63
0.00
2761.05
0.00
0.00
1038.52
0.00
1092.31
1433.91
1350.47
1034.63
7374.66
0.00
0.00
2097.32
2626.13
0.00
2536.02
2098.16
0.00
2304.24
983.28
1209.23
2172.48
0.00
2694.27
0.00
0.00
0.00
0.00
2828.51
1680.12
1782.21

2837.30
187.59
4281.58
3406.78
178.06
4474.80
0.00
973.04
1455.68
290.09
1441.33
2085.01
1720.96
1404.79
14345.89
0.00
0.00
2843.75
3873.94
0.00
4430.06
3427.58
0.00
3296.38
1372.34
1601.88
3361.19
0.00
4309.58
900.15
0.00
209.40
0.00
4129.59
2591.30
2447.40

(574.09)
(118.63)
(574.09)
(574.09)
(118.63)
(574.09)
0.00
(463.21)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(463.21)
0.00
(118.63)
0.00
(574.09)
(574.09)
(574.09)

869.46
175.14
869.46
869.46
175.14
869.46
0.00
696.78
869.46
175.14
869.46
869.46
869.46
869.46
869.46
0.00
0.00
869.46
869.46
0.00
869.46
869.46
0.00
869.46
869.46
869.46
869.46
0.00
869.46
696.78
0.00
175.14
0.00
869.46
869.46
869.46

Page 43

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
0.00
0.00
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)

29087.73
8341.96
989.00
3042.08
3427.12
4512.60
0.00
2960.07
1182.95
4603.20
0.00
0.00
0.00
2114.11
4841.11
3140.12
0.00
0.00
0.00
7383.52
2460.43
6625.65
0.00
2789.34
0.00
0.00
4841.35
0.00
0.00
0.00
9030.84
5384.53
1529.64
3696.37
6861.01
1261.47

12605.41
4551.10
0.00
2233.18
1540.44
2081.34
0.00
2027.95
956.33
3563.67
0.00
0.00
0.00
1166.69
2039.12
1849.23
0.00
0.00
0.00
4507.41
1215.96
3908.51
0.00
1828.34
0.00
0.00
2793.29
0.00
0.00
0.00
4966.11
3091.78
1060.94
2511.75
3097.46
0.00

7683.44
3095.55
0.00
1773.24
926.77
1288.22
0.00
1551.58
0.00
2913.29
0.00
0.00
0.00
0.00
1205.22
1292.86
0.00
0.00
0.00
3253.35
0.00
2763.04
0.00
1359.38
0.00
0.00
1945.36
0.00
0.00
0.00
3400.38
2166.42
0.00
1910.48
1925.90
0.00

14917.48
5018.16
197.80
2302.97
1795.04
2408.97
0.00
2119.10
810.39
3641.50
0.00
0.00
0.00
1122.84
2432.74
1996.14
0.00
0.00
0.00
4831.82
1221.66
4222.84
0.00
1926.75
0.00
0.00
3033.32
0.00
0.00
0.00
5465.91
3365.26
942.49
2628.42
3615.86
252.29

(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(463.21)
(574.09)
0.00
0.00
0.00
(463.21)
(574.09)
(574.09)
0.00
0.00
0.00
(574.09)
(463.21)
(574.09)
0.00
(574.09)
0.00
0.00
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(118.63)

869.46
869.46
175.14
869.46
869.46
869.46
0.00
869.46
696.78
869.46
0.00
0.00
0.00
696.78
869.46
869.46
0.00
0.00
0.00
869.46
696.78
869.46
0.00
869.46
0.00
0.00
869.46
0.00
0.00
0.00
869.46
869.46
696.78
869.46
869.46
175.14

Page 44

Simulation results

(574.09)
1592.32
(574.09)
1868.51
(574.09) 131593.08
(574.09)
4887.04
0.00
0.00
(574.09)
3640.89
(574.09)
2315.34
(574.09)
2454.60
(574.09)
1973.51
(574.09)
1190.75
(118.63)
0.00
0.00
0.00
(574.09)
3514.44
(118.63)
0.00
0.00
0.00
(574.09)
1624.80
0.00
0.00
0.00
0.00
(574.09)
8117.40
(574.09) 17040.64
(574.09)
1793.11
0.00
0.00
0.00
0.00
(574.09)
1824.05
(574.09)
4271.70
0.00
0.00
(574.09)
0.00
(574.09)
4397.28
(463.21)
1070.58
(574.09) 14013.83
0.00
0.00
(574.09)
5599.02
0.00
0.00
0.00
0.00
0.00
0.00
(574.09)
1936.39

0.00
1102.71
28061.22
3172.11
0.00
2128.52
1621.14
1541.76
1368.53
970.07
0.00
0.00
2121.66
0.00
0.00
1199.97
0.00
0.00
4447.78
8881.57
1283.47
0.00
0.00
1234.79
2747.11
0.00
0.00
3082.01
0.00
7425.41
0.00
3503.83
0.00
0.00
0.00
1105.50

0.00
0.00
12123.90
2357.93
0.00
1520.49
1250.04
1119.96
1048.12
0.00
0.00
0.00
1526.86
0.00
0.00
950.47
0.00
0.00
3022.75
6016.21
1002.91
0.00
0.00
944.18
2042.92
0.00
0.00
2386.83
0.00
5003.07
0.00
2556.87
0.00
0.00
0.00
0.00

318.46
1035.33
45580.13
3352.26
0.00
2309.39
1685.76
1639.97
1425.45
820.19
0.00
0.00
2281.26
0.00
0.00
1235.03
0.00
0.00
4896.69
9940.32
1329.29
0.00
0.00
1294.52
2911.19
0.00
0.00
3206.03
214.12
8258.62
0.00
3733.47
0.00
0.00
0.00
1050.57

(118.63)
(463.21)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
0.00
(574.09)
0.00
0.00
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
(118.63)
(574.09)
0.00
(574.09)
0.00
0.00
0.00
(463.21)

175.14
696.78
869.46
869.46
0.00
869.46
869.46
869.46
869.46
696.78
0.00
0.00
869.46
0.00
0.00
869.46
0.00
0.00
869.46
869.46
869.46
0.00
0.00
869.46
869.46
0.00
0.00
869.46
175.14
869.46
0.00
869.46
0.00
0.00
0.00
696.78

Page 45

Simulation results

0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
0.00
(463.21)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)

0.00
2398.25
2897.71
3444.30
0.00
4004.82
0.00
5955.37
3752.75
0.00
0.00
1600.29
0.00
0.00
897.11
1601.90
2919.46
0.00
986.04
2749.73
0.00
10433.74
4147.91
0.00
2035.97
0.00
1395.68
7452.60
7101.77
0.00
1559.06
0.00
8213.23
10135.38
3023.63
2264.00

0.00
1441.20
1526.00
1723.45
0.00
2442.53
0.00
3621.93
1614.47
0.00
0.00
966.71
0.00
0.00
0.00
1059.80
1687.12
0.00
0.00
1793.12
0.00
6633.44
2503.56
0.00
1526.27
0.00
1115.39
3748.25
3547.45
0.00
1012.95
0.00
4475.50
5099.59
1600.09
1388.71

0.00
1016.29
1023.40
1092.91
0.00
1771.42
0.00
2601.18
960.92
0.00
0.00
0.00
0.00
0.00
0.00
0.00
1169.63
0.00
0.00
1350.80
0.00
4900.83
1783.11
0.00
1221.74
0.00
922.11
2509.26
2306.77
0.00
0.00
0.00
3040.98
3375.72
1079.11
995.95

0.00
1547.63
1699.82
1941.51
0.00
2620.77
0.00
3884.47
1911.42
0.00
0.00
900.08
0.00
0.00
179.42
956.26
1830.09
0.00
197.21
1895.97
0.00
7046.98
2688.34
0.00
1567.30
0.00
1132.79
4241.32
4010.18
0.00
919.58
0.00
4936.14
5761.98
1780.60
1485.22

0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(463.21)
0.00
0.00
(118.63)
(463.21)
(574.09)
0.00
(118.63)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(463.21)
0.00
(574.09)
(574.09)
(574.09)
(574.09)

0.00
869.46
869.46
869.46
0.00
869.46
0.00
869.46
869.46
0.00
0.00
696.78
0.00
0.00
175.14
696.78
869.46
0.00
175.14
869.46
0.00
869.46
869.46
0.00
869.46
0.00
869.46
869.46
869.46
0.00
696.78
0.00
869.46
869.46
869.46
869.46

Page 46

Simulation results

(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
(574.09)

10611.48
0.00
1369.65
0.00
1519.26
0.00
0.00
1231.64
5220.24
22431.96
2097.20
908.57
0.00
4733.48
5233.02
2183.45
2370.73
0.00
11382.58
8731.80
9032.13
4646.03
8322.24
2554.23
0.00
0.00
5851.87
0.00
0.00
911.86
2537.73
2730.96
0.00
0.00
2461.70
1103.10

6182.00
0.00
1109.11
0.00
1151.34
0.00
0.00
0.00
3251.53
11013.65
1518.21
0.00
0.00
2982.94
3146.91
1467.77
1348.09
0.00
6187.09
5328.10
3965.34
2299.43
3692.59
1624.73
0.00
0.00
3191.43
0.00
0.00
0.00
1313.51
1541.24
0.00
0.00
1674.30
0.00

4374.55
0.00
923.69
0.00
935.15
0.00
0.00
0.00
2362.39
7171.82
1191.72
0.00
0.00
2188.56
2251.90
1126.15
923.45
0.00
4205.70
3849.73
2446.25
1462.19
2268.96
1206.70
0.00
0.00
2162.06
0.00
0.00
0.00
0.00
1073.75
0.00
0.00
1288.94
0.00

6706.41
0.00
1124.13
0.00
1181.68
0.00
0.00
246.33
3467.45
12528.95
1568.71
181.71
0.00
3174.17
3385.13
1542.58
1467.69
0.00
6829.91
5713.17
4674.88
2601.30
4333.79
1727.03
0.00
0.00
3517.64
0.00
0.00
182.37
1295.65
1685.68
0.00
0.00
1754.71
220.62

(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
0.00
(118.63)
(574.09)
(574.09)
(574.09)
(118.63)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
0.00
(118.63)
(463.21)
(574.09)
0.00
0.00
(574.09)
(118.63)

869.46
0.00
869.46
0.00
869.46
0.00
0.00
175.14
869.46
869.46
869.46
175.14
0.00
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
869.46
869.46
869.46
0.00
0.00
869.46
0.00
0.00
175.14
696.78
869.46
0.00
0.00
869.46
175.14

Page 47

Simulation results

(574.09)
(574.09)
(574.09)
0.00
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00

4749.56
1507.85
2051.30
0.00
1737.63
1203.42
14372.81
6754.91
1542.14
0.00
3171.49
6993.24
8303.23
0.00
58250.63
0.00
6130.43
2842.89
1910.43
2145.74
3277.37
0.00
2319.49
21300.69
7483.41
2917.78
1933.15
2272.64
0.00
2966.83
7122.49
2589.15
998.33
11331.08
6242.85
0.00

2915.57
0.00
1239.46
0.00
1137.02
0.00
6535.99
3388.09
1071.89
0.00
1777.57
3535.20
4913.58
0.00
24531.87
0.00
3636.45
1697.46
1339.17
1343.20
2310.08
0.00
1299.34
9441.02
4422.57
1834.90
1426.20
1601.13
0.00
2081.57
3987.89
1606.11
0.00
4832.18
4134.32
0.00

2111.83
0.00
874.50
0.00
0.00
0.00
4161.26
2235.89
0.00
0.00
1225.20
2351.42
3526.14
0.00
14850.22
0.00
2615.83
1193.75
1042.58
968.52
1793.08
0.00
891.14
5820.54
3133.62
1350.43
1131.27
1245.23
0.00
1637.89
2796.35
1154.19
0.00
2942.37
3120.54
0.00

3121.62
301.57
1328.83
0.00
1029.74
240.68
7628.41
3831.02
951.56
0.00
1945.88
3990.05
5314.02
0.00
29339.29
0.00
3931.12
1825.80
1394.11
1428.77
2400.14
0.00
1421.73
11088.86
4776.95
1954.58
1468.61
1664.25
0.00
2169.89
4376.50
1712.34
199.67
5754.00
4353.27
0.00

(574.09)
(118.63)
(574.09)
0.00
(463.21)
(118.63)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
0.00

869.46
175.14
869.46
0.00
696.78
175.14
869.46
869.46
696.78
0.00
869.46
869.46
869.46
0.00
869.46
0.00
869.46
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
175.14
869.46
869.46
0.00

Page 48

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(463.21)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)

21019.50
3052.77
1114.65
5299.67
0.00
1663.27
5757.36
0.00
7321.54
3286.56
0.00
6968.49
0.00
1835.65
0.00
5726.01
3976.28
0.00
0.00
4604.06
9470.22
3458.95
3252.49
0.00
2538.84
1109.07
2517.93
5657.36
0.00
1901.77
6850.78
0.00
5877.21
1616.82
13977.92
3055.71

10830.22
1982.08
0.00
3363.16
0.00
1216.16
3423.70
0.00
4076.30
1867.52
0.00
4246.92
0.00
1412.97
0.00
2562.76
2326.70
0.00
0.00
3378.86
6246.64
2407.17
2282.69
0.00
1376.90
0.00
1722.88
3480.57
0.00
1203.45
3270.49
0.00
3840.17
1062.36
8547.10
1607.27

7216.85
1475.52
0.00
2473.60
0.00
959.43
2425.95
0.00
2791.28
1306.85
0.00
3063.95
0.00
1153.85
0.00
1575.30
1632.43
0.00
0.00
2708.75
4704.12
1854.61
1766.34
0.00
922.55
0.00
1324.59
2517.10
0.00
873.04
2100.65
0.00
2867.59
0.00
6197.23
1088.86

12145.40
2094.91
222.93
3572.55
0.00
1254.24
3690.88
0.00
4468.34
2039.20
0.00
4554.64
0.00
1445.69
0.00
2997.92
2517.76
0.00
0.00
3489.88
6582.85
2507.02
2373.38
0.00
1518.42
221.81
1802.23
3723.24
0.00
1277.03
3752.58
0.00
4053.06
960.78
9163.29
1793.28

(574.09)
(574.09)
(118.63)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(118.63)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(463.21)
(574.09)
(574.09)

869.46
869.46
175.14
869.46
0.00
869.46
869.46
0.00
869.46
869.46
0.00
869.46
0.00
869.46
0.00
869.46
869.46
0.00
0.00
869.46
869.46
869.46
869.46
0.00
869.46
175.14
869.46
869.46
0.00
869.46
869.46
0.00
869.46
696.78
869.46
869.46

Page 49

Simulation results

(118.63)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(118.63)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)

0.00
42294.39
2647.74
0.00
0.00
3476.49
2251.92
0.00
939.73
1911.20
12816.27
3138.46
2909.69
6951.48
0.00
8697.55
0.00
9541.34
1984.69
0.00
9386.59
980.22
18925.01
1050.83
3123.87
11707.27
4459.32
1459.49
4680.87
0.00
6832.71
6577.21
2158.46
0.00
14973.89
0.00

0.00
17595.26
1712.65
0.00
0.00
2125.08
1297.92
0.00
0.00
1199.02
6336.18
2094.96
1835.09
4258.60
0.00
4177.66
0.00
5253.66
1501.69
0.00
5789.90
879.17
10288.56
919.60
1899.28
6138.09
2675.14
966.82
3056.38
0.00
3918.54
4298.65
1170.58
0.00
7667.83
0.00

0.00
10570.04
1262.37
0.00
0.00
1526.78
912.45
0.00
0.00
878.94
4176.80
1575.30
1333.92
3085.06
0.00
2711.78
0.00
3614.33
1207.90
0.00
4204.89
0.00
7046.76
0.00
1373.67
4103.69
1902.64
0.00
2281.35
0.00
2726.37
3219.03
0.00
0.00
5084.54
0.00

0.00
21130.04
1809.61
0.00
0.00
2275.70
1411.63
0.00
187.95
1277.44
7200.32
2199.73
1949.78
4562.47
0.00
4788.46
0.00
5783.33
1539.53
0.00
6192.24
723.55
11367.49
761.92
2039.08
6845.04
2877.48
871.99
3226.27
0.00
4262.94
4538.44
1134.04
0.00
8612.39
0.00

0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(463.21)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
0.00
(574.09)
(574.09)
(463.21)
0.00
(574.09)
0.00

0.00
869.46
869.46
0.00
0.00
869.46
869.46
0.00
175.14
869.46
869.46
869.46
869.46
869.46
0.00
869.46
0.00
869.46
869.46
0.00
869.46
696.78
869.46
696.78
869.46
869.46
869.46
696.78
869.46
0.00
869.46
869.46
696.78
0.00
869.46
0.00

Page 50

Simulation results

(118.63)
0.00
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

0.00
0.00
5856.76
3954.42
0.00
3716.38
5617.58
0.00
0.00
4740.36
4514.65
4604.80
23905.44
2750.25
1101.93
11257.91
0.00
15248.59
20180.47
0.00
6617.88
0.00
0.00
1396.49
8921.90
1223.15
0.00
2487.15
0.00
7439.78
1937.47
19892.10
11175.61
8124.09
8343.88
3235.86

0.00
0.00
3283.11
2411.35
0.00
2500.35
2937.12
0.00
0.00
2361.01
3009.07
2914.17
12275.90
1975.75
0.00
5272.01
0.00
7932.72
10410.95
0.00
4021.67
0.00
0.00
1122.40
5495.55
0.00
0.00
1569.16
0.00
3520.76
1441.44
10709.67
6653.71
4602.53
4947.84
1827.04

0.00
0.00
2254.02
1732.49
0.00
1894.36
1936.24
0.00
0.00
1543.17
2267.59
2149.01
8251.89
1553.58
0.00
3366.57
0.00
5284.90
6928.60
0.00
2966.90
0.00
0.00
930.84
3993.99
0.00
0.00
1139.65
0.00
2271.98
1160.88
7289.02
4753.40
3187.22
3514.83
1282.43

0.00
0.00
3592.02
2584.19
0.00
2622.36
3273.04
0.00
0.00
2673.31
3161.89
3099.26
13797.01
2046.22
220.39
6088.10
0.00
8866.33
11668.39
0.00
4329.96
0.00
0.00
1138.91
5880.51
244.63
0.00
1666.85
0.00
4054.81
1484.53
11862.02
7178.03
5023.78
5340.45
1999.88

0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
0.00
(574.09)
(574.09)
(118.63)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

0.00
0.00
869.46
869.46
0.00
869.46
869.46
0.00
0.00
869.46
869.46
869.46
869.46
869.46
175.14
869.46
0.00
869.46
869.46
0.00
869.46
0.00
0.00
869.46
869.46
175.14
0.00
869.46
0.00
869.46
869.46
869.46
869.46
869.46
869.46
869.46

Page 51

Simulation results

(574.09)
(574.09)
0.00
(574.09)
(118.63)
(118.63)
0.00
(574.09)
(574.09)
(574.09)
(118.63)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
0.00
(463.21)
(574.09)
0.00

4240.49
9159.80
0.00
7274.40
0.00
0.00
0.00
10546.57
2373.89
1645.72
0.00
0.00
923.53
5426.73
2460.59
1498.94
4621.01
5381.41
2674.97
1754.52
1489.17
2262.48
1780.55
6899.09
0.00
0.00
1544.81
0.00
0.00
8436.47
5822.51
2180.81
0.00
1234.25
2567.92
0.00

2316.04
5145.07
0.00
3870.23
0.00
0.00
0.00
4472.25
1669.46
1144.20
0.00
0.00
0.00
3164.00
1916.99
1242.07
2654.33
3730.82
1638.17
1152.35
986.71
1275.31
1186.04
3909.95
0.00
0.00
1027.47
0.00
0.00
4632.66
2932.04
1377.13
0.00
0.00
1617.50
0.00

1566.03
3568.33
0.00
2643.09
0.00
0.00
0.00
2692.55
1294.93
877.61
0.00
0.00
0.00
2229.99
1569.51
1051.12
1842.57
2875.16
1195.47
871.23
0.00
863.89
885.33
2752.25
0.00
0.00
0.00
0.00
0.00
3204.71
1946.20
1018.01
0.00
0.00
1173.89
0.00

2550.93
5632.67
0.00
4305.64
0.00
0.00
0.00
5331.17
1735.44
1191.18
0.00
0.00
184.71
3429.74
1956.21
1255.25
2885.31
3889.81
1756.99
1216.56
889.86
1390.46
1244.80
4276.24
0.00
0.00
925.44
0.00
0.00
5107.83
3312.96
1466.04
0.00
246.85
1718.86
0.00

(574.09)
(574.09)
0.00
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
(574.09)
0.00
0.00
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
0.00
0.00
(463.21)
0.00
0.00
(574.09)
(574.09)
(574.09)
0.00
(118.63)
(574.09)
0.00

869.46
869.46
0.00
869.46
0.00
0.00
0.00
869.46
869.46
869.46
0.00
0.00
175.14
869.46
869.46
869.46
869.46
869.46
869.46
869.46
696.78
869.46
869.46
869.46
0.00
0.00
696.78
0.00
0.00
869.46
869.46
869.46
0.00
175.14
869.46
0.00

Page 52

Simulation results

(574.09)
0.00
0.00
(574.09)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(118.63)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(463.21)
(574.09)
(574.09)
(463.21)
(574.09)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00

2315.90
0.00
0.00
5826.80
0.00
940.34
1809.97
3566.39
9037.02
6959.84
2019.84
0.00
2396.81
0.00
2942.01
3085.02
1306.92
6758.21
3837.65
0.00
8701.06
1307.80
21882.55
1171.08
953.73
21748.98
0.00
0.00
5460.94
4244.10
4756.56
2714.32
11285.98
0.00
2943.11
0.00

1583.22
0.00
0.00
3421.76
0.00
0.00
1123.16
2105.84
4492.89
3770.05
925.17
0.00
1533.54
0.00
2006.44
1864.83
964.70
3876.03
2222.62
0.00
4004.40
0.00
8702.24
0.00
0.00
7796.52
0.00
0.00
3109.20
2770.32
2997.26
1808.96
5671.42
0.00
1579.82
0.00

1204.49
0.00
0.00
2443.54
0.00
0.00
0.00
1479.45
2932.54
2600.33
0.00
0.00
1143.98
0.00
1526.47
1331.74
0.00
2715.06
1585.12
0.00
2533.78
0.00
5202.35
0.00
0.00
4394.91
0.00
0.00
2175.66
2065.42
2200.74
1358.31
3776.77
0.00
1067.94
0.00

1654.01
0.00
0.00
3707.12
0.00
188.07
1035.89
2272.67
5089.65
4174.07
959.07
0.00
1628.28
0.00
2097.56
2002.25
840.20
4220.27
2418.13
0.00
4649.61
261.56
10638.32
234.22
190.75
9906.69
0.00
0.00
3392.84
2924.10
3189.81
1899.90
6415.40
0.00
1750.10
0.00

(574.09)
0.00
0.00
(574.09)
0.00
(118.63)
(463.21)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
0.00
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
0.00
(574.09)
(118.63)
(574.09)
(118.63)
(118.63)
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00

869.46
0.00
0.00
869.46
0.00
175.14
696.78
869.46
869.46
869.46
696.78
0.00
869.46
0.00
869.46
869.46
696.78
869.46
869.46
0.00
869.46
175.14
869.46
175.14
175.14
869.46
0.00
0.00
869.46
869.46
869.46
869.46
869.46
0.00
869.46
0.00

Page 53

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(118.63)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

13528.24
2062.56
2075.14
12669.09
0.00
2866.85
3295.86
0.00
0.00
3227.74
6039.39
0.00
1530.61
1109.05
6325.99
0.00
2666.98
0.00
2634.67
0.00
0.00
2896.26
13186.24
0.00
2872.31
1996.22
9376.40
10652.36
4881.15
1853.72
0.00
2531.67
3592.01
2192.32
5387.33
5512.38

7831.34
1597.16
1443.15
6828.17
0.00
1638.12
2095.95
0.00
0.00
2208.68
3876.24
0.00
0.00
899.09
3450.21
0.00
1881.70
0.00
1584.57
0.00
0.00
2048.86
6522.03
0.00
1723.25
1348.56
5365.13
5936.81
2375.15
1193.32
0.00
1612.30
2070.03
1396.24
2960.09
2675.43

5519.03
1302.17
1108.88
4627.19
0.00
1149.38
1567.57
0.00
0.00
1692.50
2868.06
0.00
0.00
0.00
2380.11
0.00
1458.26
0.00
1124.65
0.00
0.00
1601.56
4272.33
0.00
1215.01
1019.79
3778.88
4093.99
1528.32
873.51
0.00
1189.69
1433.19
1020.11
2056.71
1738.17

8508.26
1631.24
1502.70
7556.16
0.00
1786.12
2230.26
0.00
0.00
2309.25
4107.24
0.00
306.12
761.26
3811.35
0.00
1954.07
0.00
1702.61
0.00
0.00
2128.88
7404.93
0.00
1851.41
1412.33
5850.13
6511.35
2706.98
1261.44
0.00
1711.65
2247.06
1480.23
3264.86
3055.36

(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(118.63)
(463.21)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

869.46
869.46
869.46
869.46
0.00
869.46
869.46
0.00
0.00
869.46
869.46
0.00
175.14
696.78
869.46
0.00
869.46
0.00
869.46
0.00
0.00
869.46
869.46
0.00
869.46
869.46
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
869.46
869.46

Page 54

Simulation results

(574.09)
0.00
0.00
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

1396.08
0.00
0.00
1814.40
907.31
4479.95
2024.00
3710.62
7844.31
1072.91
10561.65
4412.45
1027.52
0.00
1640.76
4371.51
7368.49
0.00
3049.24
12875.98
0.00
7023.54
1481.04
0.00
0.00
1190.92
1263.00
2397.67
3264.53
1481.72
1867.55
1577.74
2570.71
8552.34
9324.58
4958.35

1068.92
0.00
0.00
1225.08
0.00
2665.73
1745.05
2243.46
4827.14
894.44
5799.76
2751.71
0.00
0.00
1313.37
3071.14
3432.79
0.00
1728.73
6476.15
0.00
3829.56
1088.10
0.00
0.00
0.00
1041.79
1870.07
2159.93
920.07
1281.05
974.91
1615.72
5113.71
5178.56
2481.19

864.10
0.00
0.00
926.60
0.00
1901.86
1506.43
1638.55
3503.37
0.00
3989.07
2004.72
0.00
0.00
1092.16
2384.91
2172.06
0.00
1211.72
4225.59
0.00
2641.55
0.00
0.00
0.00
0.00
877.99
1532.10
1637.90
0.00
976.44
0.00
1173.76
3657.98
3565.78
1615.95

1093.39
0.00
0.00
1283.25
181.46
2875.80
1753.12
2415.91
5165.82
751.24
6390.00
2934.46
205.50
0.00
1334.61
3193.97
3967.78
0.00
1889.43
7306.00
0.00
4230.75
949.07
0.00
0.00
238.18
1053.27
1908.00
2276.44
848.38
1337.43
900.49
1718.32
5510.29
5685.21
2803.57

(574.09)
0.00
0.00
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(118.63)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(463.21)
0.00
0.00
(118.63)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)

869.46
0.00
0.00
869.46
175.14
869.46
869.46
869.46
869.46
696.78
869.46
869.46
175.14
0.00
869.46
869.46
869.46
0.00
869.46
869.46
0.00
869.46
696.78
0.00
0.00
175.14
869.46
869.46
869.46
696.78
869.46
696.78
869.46
869.46
869.46
869.46

Page 55

Simulation results

(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
0.00
0.00
0.00
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(118.63)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)

1482.63
4456.29
1783.52
0.00
1763.65
5049.44
0.00
0.00
4000.17
0.00
0.00
0.00
0.00
0.00
52473.34
0.00
3929.37
3302.65
12977.99
4815.30
1568.67
3501.10
0.00
5795.99
2432.36
0.00
0.00
2736.54
1350.53
0.00
3415.17
4715.32
1827.87
4561.53
17590.61
0.00

1076.35
2444.17
1174.42
0.00
982.80
3253.20
0.00
0.00
2422.14
0.00
0.00
0.00
0.00
0.00
21202.18
0.00
2210.70
2043.05
6561.24
2876.03
1075.93
2077.72
0.00
3133.04
1564.71
0.00
0.00
1570.91
989.38
0.00
2052.57
3111.26
1280.16
2844.16
7353.76
0.00

0.00
1674.18
880.68
0.00
0.00
2408.44
0.00
0.00
1728.75
0.00
0.00
0.00
0.00
0.00
12605.62
0.00
1528.81
1498.95
4393.20
2059.85
0.00
1463.63
0.00
2138.69
1172.07
0.00
0.00
1110.49
0.00
0.00
1454.75
2333.96
984.79
2065.87
4458.13
0.00

942.34
2692.60
1237.49
0.00
942.41
3443.50
0.00
0.00
2599.07
0.00
0.00
0.00
0.00
0.00
25737.10
0.00
2418.06
2186.15
7410.98
3100.65
959.29
2239.58
0.00
3466.76
1659.71
0.00
0.00
1711.96
863.73
0.00
2205.53
3276.61
1330.63
3031.98
8822.01
0.00

(463.21)
(574.09)
(574.09)
0.00
(463.21)
(574.09)
0.00
0.00
(574.09)
0.00
0.00
0.00
0.00
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
(463.21)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00

696.78
869.46
869.46
0.00
696.78
869.46
0.00
0.00
869.46
0.00
0.00
0.00
0.00
0.00
869.46
0.00
869.46
869.46
869.46
869.46
696.78
869.46
0.00
869.46
869.46
0.00
0.00
869.46
696.78
0.00
869.46
869.46
869.46
869.46
869.46
0.00

Page 56

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

2744.81
4534.70
941.92
2961.22
5650.97
0.00
4556.25
0.00
3959.83
4340.16
6642.74
0.00
17254.94
930.17
0.00
3066.31
5366.46
3743.79
6111.86
1172.12
1302.20
22349.12
2567.43
1107.63
4119.55
7924.66
2254.71
2558.54
28538.07
0.00
23224.04
18051.55
2486.57
0.00
2545.55
2546.47

1790.29
3099.18
0.00
1823.37
3677.24
0.00
2997.67
0.00
2320.76
3131.28
2873.31
0.00
10038.15
0.00
0.00
2001.81
3472.49
2607.66
3781.80
0.00
936.26
11763.95
1894.67
0.00
2620.02
4522.79
1485.42
1531.02
11011.63
0.00
12156.29
7288.46
1598.74
0.00
1732.58
1693.20

1341.46
2372.60
0.00
1306.69
2739.07
0.00
2273.30
0.00
1626.63
2464.29
1752.07
0.00
7126.86
0.00
0.00
1512.44
2580.38
2012.15
2756.97
0.00
0.00
8007.45
1507.67
0.00
1936.79
3159.30
1105.51
1102.03
6436.02
0.00
8160.57
4327.98
1175.16
0.00
1331.99
1268.98

1891.43
3240.97
188.38
1947.60
3884.35
0.00
3164.51
0.00
2509.74
3239.66
3402.95
0.00
10899.25
186.03
0.00
2116.84
3672.87
2715.78
4042.85
234.42
822.19
13129.69
1951.82
221.53
2783.28
4930.46
1563.30
1650.73
13601.80
0.00
13570.70
8848.98
1691.59
0.00
1815.05
1779.01

(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(118.63)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(463.21)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)

869.46
869.46
175.14
869.46
869.46
0.00
869.46
0.00
869.46
869.46
869.46
0.00
869.46
175.14
0.00
869.46
869.46
869.46
869.46
175.14
696.78
869.46
869.46
175.14
869.46
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
0.00
869.46
869.46

Page 57

Simulation results

(463.21)
(118.63)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(118.63)
(574.09)

1020.85
0.00
6090.66
0.00
5289.30
5572.10
4999.22
31145.45
0.00
19114.77
11600.01
2707.16
6753.33
0.00
1424.58
3740.75
7994.55
2248.97
0.00
0.00
988.99
9531.02
14681.84
5067.56
10102.01
0.00
0.00
1109.55
1621.83
7338.85
2279.81
0.00
2279.53
6480.58
0.00
3917.79

0.00
0.00
3380.47
0.00
2923.33
3336.19
3100.64
14801.80
0.00
9416.17
4998.79
1830.19
2785.01
0.00
904.88
2158.73
5441.76
1264.15
0.00
0.00
0.00
4528.43
9009.79
3309.68
5627.36
0.00
0.00
0.00
1052.90
4164.82
1187.62
0.00
1510.88
3575.62
0.00
2162.58

0.00
0.00
2304.30
0.00
1985.07
2373.84
2248.57
9499.79
0.00
6132.69
3028.73
1398.04
1611.93
0.00
0.00
1522.67
4184.92
0.00
0.00
0.00
0.00
2920.98
6547.00
2471.07
3907.11
0.00
0.00
0.00
0.00
2919.88
0.00
0.00
1127.83
2463.32
0.00
1496.33

204.17
0.00
3707.27
0.00
3208.87
3590.90
3309.94
17010.13
0.00
10699.19
5925.03
1919.15
3344.06
0.00
827.85
2347.93
5700.95
1208.28
0.00
0.00
197.80
5207.46
9651.64
3493.54
6178.24
0.00
0.00
221.91
956.11
4550.64
1168.53
0.00
1588.00
3934.15
0.00
2380.37

(118.63)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(463.21)
(574.09)
(574.09)
(463.21)
0.00
0.00
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(118.63)
(463.21)
(574.09)
(463.21)
0.00
(574.09)
(574.09)
0.00
(574.09)

175.14
0.00
869.46
0.00
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
869.46
0.00
696.78
869.46
869.46
696.78
0.00
0.00
175.14
869.46
869.46
869.46
869.46
0.00
0.00
175.14
696.78
869.46
696.78
0.00
869.46
869.46
0.00
869.46

Page 58

Simulation results

0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)

0.00
36319.26
11892.53
0.00
5269.81
3493.16
889.85
5909.59
1010.94
5086.39
3080.70
1579.13
3888.86
13138.47
21927.21
3919.93
0.00
4888.05
4297.69
11190.85
0.00
1220.98
1576.22
0.00
3661.96
2777.41
0.00
3376.08
1854.82
0.00
4084.12
3150.48
0.00
5322.61
0.00
1906.52

0.00
11617.72
6348.76
0.00
3241.22
2365.01
0.00
4054.63
0.00
3337.36
1641.62
1303.76
2654.49
5027.94
11379.91
2506.04
0.00
3185.95
2701.85
6980.24
0.00
0.00
1196.80
0.00
2128.81
1747.32
0.00
2485.22
1314.34
0.00
2440.22
2059.81
0.00
3563.48
0.00
1218.11

0.00
6161.61
4275.79
0.00
2364.59
1800.87
0.00
3112.26
0.00
2497.02
1101.22
1097.71
2027.67
2860.90
7601.24
1851.26
0.00
2378.50
1979.53
5106.67
0.00
0.00
962.84
0.00
1486.79
1271.45
0.00
1974.33
1020.17
0.00
1730.12
1560.40
0.00
2695.89
0.00
897.82

0.00
15466.81
7042.92
0.00
3471.61
2477.82
177.97
4237.15
202.19
3519.10
1821.36
1317.62
2776.00
6216.64
12733.63
2657.86
0.00
3364.88
2876.55
7447.65
0.00
244.20
1225.89
0.00
2307.03
1858.16
0.00
2561.21
1363.60
0.00
2626.98
2178.06
0.00
3741.79
0.00
1291.73

0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(118.63)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(118.63)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)

0.00
869.46
869.46
0.00
869.46
869.46
175.14
869.46
175.14
869.46
869.46
869.46
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
0.00
175.14
869.46
0.00
869.46
869.46
0.00
869.46
869.46
0.00
869.46
869.46
0.00
869.46
0.00
869.46

Page 59

Simulation results

0.00
(574.09)
(463.21)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

0.00
3196.96
1146.13
1023.67
4810.26
0.00
914.17
5532.85
1468.60
0.00
0.00
1489.82
1524.28
0.00
1048.40
10519.46
4142.78
1155.75
2675.61
1285.30
7432.14
1003.08
0.00
0.00
66628.78
0.00
1143.55
1333.35
2614.45
15215.96
6011.95
3702.49
7817.12
3364.08
2803.83
2774.22

0.00
2211.19
0.00
0.00
3189.39
0.00
0.00
3411.96
913.30
0.00
0.00
1013.51
938.32
0.00
875.98
4614.83
2560.94
0.00
1723.09
952.20
4356.95
0.00
0.00
0.00
29025.80
0.00
0.00
981.61
1776.00
7425.10
3712.58
2336.99
4650.32
2428.17
2081.12
1958.12

0.00
1700.20
0.00
0.00
2401.04
0.00
0.00
2468.87
0.00
0.00
0.00
0.00
0.00
0.00
0.00
2854.59
1874.79
0.00
1280.56
0.00
3073.52
0.00
0.00
0.00
17939.27
0.00
0.00
0.00
1359.52
4780.04
2700.26
1706.40
3372.05
1912.54
1659.37
1520.13

0.00
2306.15
229.23
204.73
3355.89
0.00
182.83
3647.52
841.70
0.00
0.00
906.07
867.85
0.00
735.27
5443.71
2740.08
231.15
1825.09
828.38
4715.30
200.62
0.00
0.00
34329.09
0.00
228.71
855.63
1860.39
8454.26
3969.99
2483.97
5028.02
2512.22
2141.31
2033.74

0.00
(574.09)
(118.63)
(118.63)
(574.09)
0.00
(118.63)
(574.09)
(463.21)
0.00
0.00
(463.21)
(463.21)
0.00
(463.21)
(574.09)
(574.09)
(118.63)
(574.09)
(463.21)
(574.09)
(118.63)
0.00
0.00
(574.09)
0.00
(118.63)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

0.00
869.46
175.14
175.14
869.46
0.00
175.14
869.46
696.78
0.00
0.00
696.78
696.78
0.00
696.78
869.46
869.46
175.14
869.46
696.78
869.46
175.14
0.00
0.00
869.46
0.00
175.14
696.78
869.46
869.46
869.46
869.46
869.46
869.46
869.46
869.46

Page 60

Simulation results

(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(463.21)
(574.09)
(463.21)
(574.09)
(574.09)
(118.63)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
0.00
(574.09)
0.00

10938.59
1395.29
4024.95
2427.43
1912.00
1441.80
8177.53
5967.23
0.00
2139.50
1276.53
1066.16
4920.10
1659.17
2873.44
7256.19
0.00
1107.68
1393.47
5535.26
6189.37
1386.27
1818.50
2095.47
4240.22
3574.33
1305.26
0.00
12599.34
14999.80
1659.50
0.00
2524.06
0.00
13898.94
0.00

6379.33
0.00
2447.97
1331.75
1214.07
936.11
4559.06
3558.81
0.00
1419.32
925.96
0.00
2809.78
0.00
2085.93
4247.02
0.00
0.00
0.00
3588.04
3528.11
990.01
1303.30
1345.07
2259.74
2311.61
0.00
0.00
5579.13
7560.93
1156.02
0.00
1641.76
0.00
6961.68
0.00

4502.36
0.00
1762.39
909.88
895.34
0.00
3140.42
2589.69
0.00
1059.60
0.00
0.00
1948.10
0.00
1643.48
3004.56
0.00
0.00
0.00
2674.35
2476.78
0.00
1015.90
989.97
1529.02
1709.58
0.00
0.00
3509.92
5087.89
898.98
0.00
1226.38
0.00
4613.93
0.00

6915.79
279.06
2626.25
1466.51
1289.91
850.02
4999.03
3846.67
0.00
1491.41
810.88
213.23
3059.51
331.83
2154.94
4600.36
0.00
221.54
278.69
3794.74
3850.10
871.26
1348.86
1424.13
2509.69
2443.75
261.05
0.00
6569.33
8554.10
1205.31
0.00
1735.14
0.00
7879.58
0.00

(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
0.00
(574.09)
(463.21)
(118.63)
(574.09)
(118.63)
(574.09)
(574.09)
0.00
(118.63)
(118.63)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00

869.46
175.14
869.46
869.46
869.46
696.78
869.46
869.46
0.00
869.46
696.78
175.14
869.46
175.14
869.46
869.46
0.00
175.14
175.14
869.46
869.46
696.78
869.46
869.46
869.46
869.46
175.14
0.00
869.46
869.46
869.46
0.00
869.46
0.00
869.46
0.00

Page 61

Simulation results

(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
(574.09)
(463.21)
(463.21)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)

1263.81
1000.62
0.00
4434.78
7068.94
6333.47
0.00
0.00
2793.00
0.00
1741.16
0.00
12544.66
0.00
1303.17
9977.18
5834.61
3619.66
10638.07
0.00
0.00
3913.08
7051.90
0.00
933.55
0.00
3121.75
2749.06
6554.98
7586.75
1758.57
0.00
4670.50
8343.90
0.00
3673.01

1020.82
0.00
0.00
2873.81
4565.69
3774.66
0.00
0.00
1872.77
0.00
1264.70
0.00
6477.04
0.00
0.00
5291.23
3605.13
2332.85
4455.09
0.00
0.00
2148.05
3384.20
0.00
0.00
0.00
2360.46
1812.01
3737.11
4268.67
1439.02
0.00
2872.62
4753.79
0.00
2342.33

0.00
0.00
0.00
2132.91
3393.27
2680.87
0.00
0.00
1411.47
0.00
993.04
0.00
4306.23
0.00
0.00
3598.35
2614.28
1741.77
2687.54
0.00
0.00
1482.88
2177.26
0.00
0.00
0.00
1921.05
1366.32
2601.15
2951.30
1206.93
0.00
2080.70
3315.00
0.00
1720.00

865.25
200.12
0.00
3037.83
4831.86
4067.67
0.00
0.00
1964.55
0.00
1305.66
0.00
7256.41
0.00
260.63
5889.84
3852.85
2472.00
5338.18
0.00
0.00
2368.02
3876.35
0.00
186.71
0.00
2424.83
1910.28
4073.49
4668.81
1456.51
0.00
3073.81
5184.06
0.00
2484.00

(463.21)
(118.63)
0.00
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(118.63)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)

696.78
175.14
0.00
869.46
869.46
869.46
0.00
0.00
869.46
0.00
869.46
0.00
869.46
0.00
175.14
869.46
869.46
869.46
869.46
0.00
0.00
869.46
869.46
0.00
175.14
0.00
869.46
869.46
869.46
869.46
869.46
0.00
869.46
869.46
0.00
869.46

Page 62

Simulation results

(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
(574.09)

10044.27
35994.41
1747.59
0.00
4925.58
0.00
1720.19
22270.07
6334.63
3828.96
4942.22
50039.27
2084.21
3305.08
3492.49
1159.21
1473.56
4238.52
1867.69
0.00
1362.78
7171.15
4222.46
6333.00
20695.64
0.00
0.00
0.00
2177.50
3720.17
1823.22
6354.75
0.00
0.00
1488.81
1559.62

5782.45
15675.17
1419.11
0.00
3294.77
0.00
1043.74
9793.13
3314.68
2641.01
2927.05
19464.46
1611.99
2020.24
1549.36
0.00
1060.16
2759.01
1380.29
0.00
980.44
3927.41
2556.51
3849.07
8933.64
0.00
0.00
0.00
1187.24
1917.12
1069.46
3163.17
0.00
0.00
1219.75
1266.42

4063.76
9648.38
1185.56
0.00
2523.99
0.00
0.00
6148.98
2241.70
2042.64
2065.04
11299.26
1314.44
1446.43
923.97
0.00
0.00
2051.75
1095.20
0.00
0.00
2729.31
1858.36
2769.01
5500.78
0.00
0.00
0.00
0.00
1270.78
0.00
2082.54
0.00
0.00
1025.95
1059.35

6291.07
18533.66
1438.09
0.00
3466.77
0.00
970.29
11559.69
3704.07
2758.93
3157.68
23946.38
1646.92
2162.45
1812.91
231.84
930.81
2913.46
1420.75
0.00
860.82
4336.53
2750.07
4129.84
10599.47
0.00
0.00
0.00
1147.85
2148.46
1006.32
3585.36
0.00
0.00
1234.80
1283.64

(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(463.21)
(574.09)
(574.09)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
0.00
(463.21)
(574.09)
(463.21)
(574.09)
0.00
0.00
(574.09)
(574.09)

869.46
869.46
869.46
0.00
869.46
0.00
696.78
869.46
869.46
869.46
869.46
869.46
869.46
869.46
869.46
175.14
696.78
869.46
869.46
0.00
696.78
869.46
869.46
869.46
869.46
0.00
0.00
0.00
696.78
869.46
696.78
869.46
0.00
0.00
869.46
869.46

Page 63

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

11412.11
2947.51
1079.30
3591.22
5845.74
8172.19
1380.74
2103.03
2770.20
3761.07
1004.70
2652.14
8634.63
1418.88
1733.01
2164.75
6698.56
2770.27
2037.08
13546.31
1954.96
4503.76
1489.50
4580.66
1617.81
4750.64
2261.78
8261.33
2135.16
0.00
1121.02
2829.45
5286.33
20011.81
3681.27
1931.89

5163.50
1896.45
0.00
2111.93
2847.09
4775.50
1025.33
1637.52
1788.44
2561.09
0.00
1742.70
4311.15
1011.84
1389.30
1386.49
4082.79
1616.69
1527.13
7652.42
1430.34
2226.44
927.38
2420.78
974.97
2346.82
1407.14
4854.84
1459.97
0.00
0.00
1857.62
3597.33
9160.61
2815.71
1190.09

3258.89
1397.15
0.00
1482.40
1841.12
3375.97
0.00
1338.97
1317.78
1954.67
0.00
1306.42
2789.47
0.00
1152.04
1033.35
2948.93
1151.81
1229.47
5320.55
1131.67
1452.83
0.00
1641.35
0.00
1503.39
1018.68
3443.51
1121.86
0.00
0.00
1389.67
2749.37
5715.30
2287.30
863.96

6032.30
2006.80
215.86
2281.88
3245.63
5174.93
891.35
1670.91
1890.66
2679.80
200.94
1837.33
4871.51
890.88
1410.59
1471.51
4379.17
1754.43
1569.59
8364.82
1475.53
2527.18
854.33
2696.87
908.55
2658.90
1500.38
5253.87
1527.39
0.00
224.20
1958.40
3765.54
10641.79
2883.14
1273.22

(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)

869.46
869.46
175.14
869.46
869.46
869.46
696.78
869.46
869.46
869.46
175.14
869.46
869.46
696.78
869.46
869.46
869.46
869.46
869.46
869.46
869.46
869.46
696.78
869.46
696.78
869.46
869.46
869.46
869.46
0.00
175.14
869.46
869.46
869.46
869.46
869.46

Page 64

Simulation results

(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
0.00
0.00
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)

3045.27
9974.90
0.00
1488.12
1380.09
0.00
1292.95
3316.28
12358.74
46188.18
0.00
1884.65
0.00
4687.87
0.00
0.00
0.00
2492.68
0.00
0.00
0.00
1569.39
2328.64
0.00
0.00
0.00
2360.14
2038.61
2638.37
4134.45
3304.44
3931.95
3859.70
0.00
1695.51
1594.47

2046.37
5572.26
0.00
1052.09
1049.08
0.00
932.23
1672.09
4818.51
18830.62
0.00
1258.15
0.00
2937.19
0.00
0.00
0.00
1679.77
0.00
0.00
0.00
1099.66
1463.15
0.00
0.00
0.00
1558.45
1264.68
1730.57
2435.54
2155.94
2543.93
2444.41
0.00
1276.12
1258.58

1552.41
3868.19
0.00
0.00
0.00
0.00
0.00
1096.73
2777.70
11230.22
0.00
961.58
0.00
2138.79
0.00
0.00
0.00
1267.37
0.00
0.00
0.00
0.00
1068.47
0.00
0.00
0.00
1173.35
906.43
1291.58
1747.29
1622.10
1907.94
1809.41
0.00
1022.02
1038.69

2147.36
6111.98
0.00
928.88
905.47
0.00
817.93
1885.86
5918.39
22782.06
0.00
1324.13
0.00
3127.65
0.00
0.00
0.00
1759.87
0.00
0.00
0.00
973.67
1557.31
0.00
0.00
0.00
1641.77
1347.81
1824.33
2637.67
2278.87
2694.33
2600.47
0.00
1309.18
1281.78

(574.09)
(574.09)
0.00
(463.21)
(463.21)
0.00
(463.21)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
0.00
0.00
(574.09)
0.00
0.00
0.00
(463.21)
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)

869.46
869.46
0.00
696.78
696.78
0.00
696.78
869.46
869.46
869.46
0.00
869.46
0.00
869.46
0.00
0.00
0.00
869.46
0.00
0.00
0.00
696.78
869.46
0.00
0.00
0.00
869.46
869.46
869.46
869.46
869.46
869.46
869.46
0.00
869.46
869.46

Page 65

Simulation results

(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(118.63)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(463.21)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(463.21)
(574.09)

2440.88
1157.70
13235.35
2323.29
1769.50
1279.64
33611.88
4045.46
0.00
888.53
1501.91
3707.26
2608.63
0.00
8139.88
1624.88
3861.66
0.00
0.00
2825.32
2875.74
0.00
6661.03
2636.66
3073.65
0.00
1910.41
2019.68
0.00
1130.23
1445.39
2789.36
4956.63
0.00
1214.63
3798.26

1721.90
0.00
7037.22
1312.57
903.85
1099.72
12281.11
2308.00
0.00
0.00
1094.72
2283.00
1737.72
0.00
5058.97
1207.68
2395.48
0.00
0.00
1940.73
1439.50
0.00
4230.12
1560.55
2183.66
0.00
1077.93
1250.93
0.00
927.89
893.79
1956.60
3299.17
0.00
0.00
2276.59

1336.28
0.00
4767.38
911.17
0.00
944.26
7003.33
1627.79
0.00
0.00
0.00
1645.01
1303.64
0.00
3685.79
961.17
1734.67
0.00
0.00
1482.83
933.88
0.00
3115.24
1113.09
1702.71
0.00
0.00
894.44
0.00
0.00
0.00
1515.35
2485.89
0.00
0.00
1619.00

1788.57
231.54
7822.88
1434.43
896.21
1104.61
15491.71
2519.45
0.00
177.71
957.22
2440.26
1825.09
0.00
5400.52
1241.82
2556.55
0.00
0.00
2026.07
1625.62
0.00
4493.32
1686.28
2265.47
0.00
1028.84
1333.38
0.00
782.78
825.35
2034.90
3468.01
0.00
242.93
2449.41

(574.09)
(118.63)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
0.00
(118.63)
(463.21)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(463.21)
(574.09)
0.00
(463.21)
(463.21)
(574.09)
(574.09)
0.00
(118.63)
(574.09)

869.46
175.14
869.46
869.46
696.78
869.46
869.46
869.46
0.00
175.14
696.78
869.46
869.46
0.00
869.46
869.46
869.46
0.00
0.00
869.46
869.46
0.00
869.46
869.46
869.46
0.00
696.78
869.46
0.00
696.78
696.78
869.46
869.46
0.00
175.14
869.46

Page 66

Simulation results

(574.09)
0.00
(118.63)
(574.09)
0.00
(574.09)
(118.63)
(574.09)
(574.09)
0.00
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
(118.63)
(574.09)
(574.09)
(118.63)
(574.09)
0.00

10111.91
0.00
0.00
1097.55
0.00
3476.81
0.00
3740.13
1502.55
0.00
3484.22
0.00
0.00
2722.94
900.53
4253.04
1427.34
1072.98
0.00
0.00
4952.03
1504.37
18848.11
18009.04
1441.16
0.00
4294.09
4113.48
0.00
3735.63
0.00
1132.07
4701.75
0.00
6839.11
0.00

4977.80
0.00
0.00
0.00
0.00
2410.13
0.00
1922.70
994.12
0.00
2369.72
0.00
0.00
1853.59
0.00
2531.76
993.91
0.00
0.00
0.00
3261.29
0.00
6991.05
9126.47
1117.10
0.00
2453.29
1900.27
0.00
2454.44
0.00
0.00
2496.79
0.00
3925.28
0.00

3223.05
0.00
0.00
0.00
0.00
1854.72
0.00
1273.91
0.00
0.00
1804.31
0.00
0.00
1409.99
0.00
1792.05
0.00
0.00
0.00
0.00
2451.89
0.00
3977.19
6037.63
909.08
0.00
1732.46
1179.30
0.00
1846.78
0.00
0.00
1667.17
0.00
2768.42
0.00

5653.67
0.00
0.00
219.51
0.00
2512.39
0.00
2156.43
896.98
0.00
2479.54
0.00
0.00
1938.74
180.11
2728.07
881.81
214.60
0.00
0.00
3437.56
300.87
8759.69
10285.22
1140.30
0.00
2677.28
2198.72
0.00
2589.15
0.00
226.41
2771.86
0.00
4276.67
0.00

(574.09)
0.00
0.00
(118.63)
0.00
(574.09)
0.00
(574.09)
(463.21)
0.00
(574.09)
0.00
0.00
(574.09)
(118.63)
(574.09)
(463.21)
(118.63)
0.00
0.00
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(118.63)
(574.09)
0.00
(574.09)
0.00

869.46
0.00
0.00
175.14
0.00
869.46
0.00
869.46
696.78
0.00
869.46
0.00
0.00
869.46
175.14
869.46
696.78
175.14
0.00
0.00
869.46
175.14
869.46
869.46
869.46
0.00
869.46
869.46
0.00
869.46
0.00
175.14
869.46
0.00
869.46
0.00

Page 67

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(463.21)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
0.00
(463.21)
(463.21)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)

4668.40
4089.69
1153.34
1997.43
2051.62
2953.42
3186.97
1217.12
4230.37
6865.38
0.00
6467.18
0.00
2099.40
36325.87
6822.51
0.00
33660.18
2191.28
3337.29
0.00
3563.00
0.00
11979.36
0.00
4399.30
3416.62
0.00
0.00
1123.98
2763.44
8920.30
0.00
10720.61
3448.13
1383.54

2845.68
2379.73
0.00
1348.28
1415.39
2153.84
2220.61
0.00
2503.85
3835.54
0.00
3639.38
0.00
1403.94
14028.92
4087.83
0.00
12931.75
1517.49
2137.76
0.00
2262.29
0.00
5598.18
0.00
2470.76
2267.48
0.00
0.00
0.00
1497.81
5240.14
0.00
5900.14
1986.50
1099.34

2040.57
1686.89
0.00
1017.45
1084.38
1717.59
1717.14
0.00
1780.48
2645.33
0.00
2545.27
0.00
1054.75
8308.79
2916.54
0.00
7588.64
1178.94
1571.65
0.00
1656.75
0.00
3601.16
0.00
1717.40
1706.71
0.00
0.00
0.00
1014.57
3706.03
0.00
4039.50
1409.71
909.27

3049.20
2583.15
230.67
1411.95
1476.43
2226.51
2313.19
243.42
2704.48
4203.47
0.00
3986.12
0.00
1473.19
17344.28
4400.51
0.00
16008.81
1584.53
2264.44
0.00
2401.32
0.00
6475.01
0.00
2705.79
2385.15
0.00
0.00
224.80
1654.29
5669.35
0.00
6492.11
2163.47
1118.17

(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(118.63)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)

869.46
869.46
175.14
869.46
869.46
869.46
869.46
175.14
869.46
869.46
0.00
869.46
0.00
869.46
869.46
869.46
0.00
869.46
869.46
869.46
0.00
869.46
0.00
869.46
0.00
869.46
869.46
0.00
0.00
175.14
869.46
869.46
0.00
869.46
869.46
869.46

Page 68

Simulation results

(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(118.63)
(574.09)

8739.15
0.00
0.00
1378.83
16053.36
94020.76
1254.58
0.00
0.00
2309.82
17599.72
9695.81
1004.39
0.00
7599.06
0.00
1096.00
1115.55
0.00
2825.61
1452.75
1201.08
4311.79
33660.03
9739.28
0.00
2700.79
0.00
2888.12
1931.88
14034.39
0.00
5595.38
8785.21
901.94
2354.09

5101.76
0.00
0.00
1056.53
8251.47
31830.33
1117.75
0.00
0.00
1336.57
7281.66
5206.97
0.00
0.00
3982.88
0.00
0.00
0.00
0.00
1832.73
1001.11
0.00
2827.01
12720.76
5367.55
0.00
1807.40
0.00
1853.31
1421.93
7918.85
0.00
3490.52
3618.72
0.00
1271.74

3641.33
0.00
0.00
0.00
5487.12
17410.18
977.77
0.00
0.00
938.91
4463.74
3573.55
0.00
0.00
2649.31
0.00
0.00
0.00
0.00
1358.72
0.00
0.00
2110.09
7403.54
3669.74
0.00
1366.86
0.00
1362.28
1126.85
5521.57
0.00
2540.53
2123.61
0.00
863.68

5537.15
0.00
0.00
909.69
9258.98
41384.38
1117.12
0.00
0.00
1451.69
8781.69
5778.06
200.88
0.00
4439.40
0.00
219.20
223.11
0.00
1936.50
891.22
240.22
2980.58
15845.17
5902.33
0.00
1897.97
0.00
1962.07
1464.91
8662.50
0.00
3721.49
4353.00
180.39
1406.60

(574.09)
0.00
0.00
(463.21)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
(574.09)
(574.09)
(118.63)
0.00
(574.09)
0.00
(118.63)
(118.63)
0.00
(574.09)
(463.21)
(118.63)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(118.63)
(574.09)

869.46
0.00
0.00
696.78
869.46
869.46
869.46
0.00
0.00
869.46
869.46
869.46
175.14
0.00
869.46
0.00
175.14
175.14
0.00
869.46
696.78
175.14
869.46
869.46
869.46
0.00
869.46
0.00
869.46
869.46
869.46
0.00
869.46
869.46
175.14
869.46

Page 69

Simulation results

0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(118.63)
0.00
(574.09)
0.00
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
0.00
0.00
(118.63)
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(463.21)
0.00
0.00
(574.09)
(574.09)
(574.09)

0.00
1888.03
3332.40
4186.73
1699.05
0.00
2380.25
5848.53
3133.87
2390.66
0.00
1938.59
5684.74
0.00
0.00
4480.08
0.00
3166.91
47260.06
1239.38
4582.65
2865.09
0.00
0.00
0.00
4936.17
2931.30
994.87
2590.37
1332.11
0.00
0.00
0.00
17320.13
4425.56
2087.50

0.00
1520.25
2038.27
2668.12
1271.50
0.00
1668.26
2953.71
1962.59
1690.98
0.00
1362.14
3144.25
0.00
0.00
2407.58
0.00
2386.09
18408.23
0.00
2810.34
1629.18
0.00
0.00
0.00
2772.25
1841.81
0.00
1612.97
1018.70
0.00
0.00
0.00
7786.79
2986.02
1345.99

0.00
1266.11
1464.42
1962.04
1018.15
0.00
1289.53
1944.30
1425.93
1313.19
0.00
1061.70
2142.41
0.00
0.00
1638.52
0.00
1920.34
10930.17
0.00
2038.15
1132.70
0.00
0.00
0.00
1927.18
1351.65
0.00
1194.57
0.00
0.00
0.00
0.00
4819.49
2265.53
1005.47

0.00
1542.97
2182.32
2830.62
1306.34
0.00
1734.91
3330.79
2089.51
1755.36
0.00
1417.34
3451.98
0.00
0.00
2668.27
0.00
2449.10
22682.98
247.88
3010.37
1777.07
0.00
0.00
0.00
3036.02
1961.68
198.97
1724.77
877.64
0.00
0.00
0.00
9100.00
3129.83
1426.19

0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
0.00
0.00
0.00
(574.09)
(574.09)
(118.63)
(574.09)
(463.21)
0.00
0.00
0.00
(574.09)
(574.09)
(574.09)

0.00
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
869.46
0.00
869.46
869.46
0.00
0.00
869.46
0.00
869.46
869.46
175.14
869.46
869.46
0.00
0.00
0.00
869.46
869.46
175.14
869.46
696.78
0.00
0.00
0.00
869.46
869.46
869.46

Page 70

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(118.63)
(463.21)
(574.09)
(574.09)
0.00
(118.63)
(574.09)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
0.00

3406.91
2881.06
3834.07
4318.84
0.00
5998.11
6367.29
4097.01
0.00
1056.26
3433.39
1486.42
0.00
0.00
1064.63
0.00
29957.56
8611.43
0.00
11571.98
0.00
4172.21
3767.78
941.03
5132.15
7284.33
2027.80
1226.23
6836.96
6256.50
2922.20
2264.51
0.00
1991.75
6088.12
0.00

1896.32
1908.22
2495.62
2546.03
0.00
3316.69
4075.11
2661.83
0.00
0.00
2188.95
1118.50
0.00
0.00
878.08
0.00
12861.39
4753.38
0.00
6844.66
0.00
2252.19
2195.14
0.00
3401.45
4177.08
1017.49
887.62
3715.23
3569.84
1974.10
1472.08
0.00
1027.76
3156.22
0.00

1295.98
1431.03
1859.28
1818.03
0.00
2308.79
3014.24
1979.07
0.00
0.00
1611.17
896.22
0.00
0.00
0.00
0.00
7974.45
3258.68
0.00
4874.62
0.00
1546.43
1529.89
0.00
2592.23
2918.72
0.00
0.00
2518.16
2487.16
1497.92
1087.54
0.00
0.00
2130.36
0.00

2078.37
2007.35
2636.04
2754.99
0.00
3651.39
4321.37
2812.31
0.00
211.25
2322.29
1147.62
0.00
0.00
739.77
0.00
15303.23
5226.05
0.00
7396.12
0.00
2495.04
2376.62
188.21
3585.75
4546.86
1016.05
777.82
4100.16
3890.64
2068.48
1553.66
0.00
1015.00
3537.43
0.00

(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(118.63)
(574.09)
(574.09)
0.00
0.00
(463.21)
0.00
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(463.21)
(463.21)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(463.21)
(574.09)
0.00

869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
0.00
175.14
869.46
869.46
0.00
0.00
696.78
0.00
869.46
869.46
0.00
869.46
0.00
869.46
869.46
175.14
869.46
869.46
696.78
696.78
869.46
869.46
869.46
869.46
0.00
696.78
869.46
0.00

Page 71

Simulation results

0.00
0.00
(463.21)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(118.63)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(463.21)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(463.21)

0.00
0.00
1004.57
4856.47
3193.43
0.00
8155.44
0.00
1071.63
0.00
8336.13
12163.20
5432.27
4222.77
10667.37
6549.59
8942.01
7124.43
0.00
2898.16
1859.11
2766.22
4229.81
1284.88
0.00
2891.23
3758.22
0.00
7838.11
6189.12
5339.83
0.00
1549.33
0.00
3933.19
970.84

0.00
0.00
0.00
2816.98
2213.65
0.00
5002.37
0.00
0.00
0.00
5032.20
6240.47
3112.11
2577.07
5019.26
3713.30
4647.06
4528.28
0.00
1618.01
1321.37
1689.10
2971.49
970.05
0.00
2043.80
2212.70
0.00
4740.59
3782.26
3375.87
0.00
1217.57
0.00
2433.56
0.00

0.00
0.00
0.00
1969.79
1720.57
0.00
3630.02
0.00
0.00
0.00
3613.38
4187.04
2205.41
1853.62
3213.96
2602.05
3141.99
3363.73
0.00
1094.18
1026.88
1204.12
2331.17
0.00
0.00
1589.10
1549.75
0.00
3406.92
2729.78
2477.02
0.00
1004.75
0.00
1757.17
0.00

0.00
0.00
200.91
3055.44
2310.99
0.00
5358.51
0.00
214.33
0.00
5409.22
7014.33
3394.80
2761.52
5787.82
4058.31
5205.04
4814.60
0.00
1769.28
1370.02
1807.53
3095.09
839.01
0.00
2122.34
2389.21
0.00
5093.36
4053.14
3588.89
0.00
1241.36
0.00
2598.21
194.17

0.00
0.00
(118.63)
(574.09)
(574.09)
0.00
(574.09)
0.00
(118.63)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
(574.09)
0.00
(574.09)
(574.09)
(574.09)
0.00
(574.09)
0.00
(574.09)
(118.63)

0.00
0.00
175.14
869.46
869.46
0.00
869.46
0.00
175.14
0.00
869.46
869.46
869.46
869.46
869.46
869.46
869.46
869.46
0.00
869.46
869.46
869.46
869.46
696.78
0.00
869.46
869.46
0.00
869.46
869.46
869.46
0.00
869.46
0.00
869.46
175.14

Page 72

Simulation results

(574.09)
(574.09)
(574.09)
(574.09)
(463.21)
0.00
(574.09)
0.00
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
(574.09)
0.00

2103.00
1837.92
12466.23
3710.01
0.00
0.00
1736.52
0.00
1756.22
1415.51
1358.39
2421.03
3179.22
7457.47
0.00

1544.06
1229.59
5438.73
2550.30
0.00
0.00
1200.80
0.00
1118.54
1071.26
0.00
1736.12
1949.92
3841.11
0.00

1223.78
921.57
3373.55
1956.84
0.00
0.00
926.79
0.00
0.00
0.00
0.00
1357.51
1404.17
2552.09
0.00

1591.79
1289.65
6431.19
2663.55
0.00
0.00
1253.14
0.00
1022.37
925.86
271.68
1797.38
2086.63
4306.58
0.00

(574.09)
(574.09)
(574.09)
(574.09)
0.00
0.00
(574.09)
0.00
(463.21)
(463.21)
(118.63)
(574.09)
(574.09)
(574.09)
0.00

869.46
869.46
869.46
869.46
0.00
0.00
869.46
0.00
696.78
696.78
175.14
869.46
869.46
869.46
0.00

Page 73

2-yr prices

Month
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

Copper
$1.00
$0.88
$0.89
$0.90
$0.85
$0.83
$0.80
$0.83
$0.87
$0.87
$0.77
$0.72
$0.72
$0.68
$0.63
$0.63
$0.60
$0.58
$0.59
$0.54
$0.57
$0.55
$0.50
$0.51

Zinc
$0.55
$0.52
$0.54
$0.57
$0.50
$0.49
$0.49
$0.49
$0.50
$0.51
$0.52
$0.54
$0.54
$0.51
$0.49
$0.51
$0.47
$0.50
$0.53
$0.50
$0.51
$0.50
$0.43
$0.42

Cu CY
20.00%
8.24%
5.23%
10.62%
-1.49%
10.77%
5.28%
19.50%
6.42%
8.90%
-5.83%
-2.58%
4.68%
9.88%
-5.46%
1.37%
11.06%
-0.04%
9.93%
2.31%
2.02%
-5.00%
-9.24%
1.22%

Zn CY
-5.00%
-8.21%
2.50%
11.56%
-6.98%
-2.59%
-7.79%
-4.62%
-1.55%
4.72%
2.23%
10.69%
4.81%
-6.20%
-8.54%
3.78%
-8.13%
3.55%
-1.48%
-3.64%
0.70%
-1.06%
-10.00%
-9.85%

Page 74

Copper
Zinc
Cu CY
Zn CY

Correlation Table
Copper
Zinc
Cu CY
Zn CY
1.00
0.44
1.00
0.57
0.00
1.00
0.00
0.73
0.00
1.00

Cu CY
Zn CY

Mean Reversion Parameters


x-bar
eta
5.97%
0.80
-0.17%
0.60

Drift/year
-2.80%
-1.42%

DCF - HIGH

Plan C: Depreciation starts in 2001/all costs and revenues are in nominal terms
Mine life
Payable copper
payable zinc
operating costs
copper treatment charge
zinc treatment charge

18 Years
365 Millions of lbs
181 Millions of lbs
145 1996$ p.a.
0.28 $/lb payable cu
0.22 $/lb payable zinc

1998 price of copper (USD/lb):


1998 price of zinc (USD/lb):
1998 convenience yield of copper
1998 convenience yield of zinc
Long term inflation:

$0.51
$0.42

WACC Calculation
DEBT
Nominal cost of debt:
Debt:
MV of firm
Tax rate:
Cost of debt:

1.22%
-9.85%
2.60%

capital cost
1988
1999
2000

55 1996 millions
264 1996 millions
303 1996 millions

Feasibility study
1996
1997
Closure costs
tax rate
Sustaining capex
working capital
capital allowances
PV of project at year 2:
PV of feasibility study:
PV of initial capital expenditures
Year

6 1996 millions
18 1996 millions
45 1996 millions
30%
1.5% p.a. of initial capex
25% of net revenue (gross revenue - treatment charges)
20% straight line for all capital
4,172.33
(22.76)
(593.16)
1
2001

2
2002

3
2003

4
2004

5
2005

6
2006

Revenues
Amount of copper (Millions lbs)
Price of copper (USD/lb)
Revenues from copper (Millions USD)
Amount of zinc (Millions lbs)
Price of zinc (USD/lb)
Revenues from Zinc (Millions USD)
Total Gross Revenues

365
$0.60
220.78
181
$0.70
127.24
348.02

365
$0.64
233.43
181
$0.83
151.05
384.48

365
$0.68
246.81
181
$0.99
179.31
426.12

365
$0.71
260.95
181
$1.18
212.87
473.82

365
$0.76
275.90
181
$1.40
252.70
528.60

365
$0.80
291.71
181
$1.66
299.99
591.69

Treatment Costs
Copper treatment costs (Millions USD)
Zinc treatment costs (Millions USD)
Total Net Revenues

116.20
45.27
186.55

119.22
46.45
218.82

122.32
47.66
256.15

125.50
48.90
299.42

128.76
50.17
349.67

132.11
51.47
408.11

Discounted Net Revenues

152.20

166.81

182.46

199.29

217.47

237.17

Annual Operating Costs (Millions USD)


Pretax Profits (Millions USD)

164.86
21.70

169.14
49.67

173.54
82.61

178.05
121.37

182.68
166.99

187.43
220.68

1996

Capital Expenditures
Feasibility (Millions USD)
Capital expenditures (Millions USD)
Depreciation
EBIAT

6.00

1997

PV Calculations
Discounted net revenues
Total costs
Total costs discounted at WACC
DCF
PV:

1999

2000

18.47

Taxes
PAT
Adjustments:
Depreciation
Total working capital
Change in working capital
Capital expenditures
Closure costs
Free Cash Flow (Millions USD)

1998

57.90
0.00
0.00

285.13
0.00
0.00

335.76
0.00
0.00

10.18
137.79
(116.10)

10.45
139.88
(90.21)

10.72
142.03
(59.42)

11.00
144.23
(22.86)

11.28
146.48
20.51

11.58
11.00
209.68

0.00
-

0.00
-

0.00
-

(34.83)
(81.27)

(27.06)
(63.15)

(17.83)
(41.59)

(6.86)
(16.00)

6.15
14.35

62.90
146.77

139.88
54.70
8.07
10.45
0.00
58.22

142.03
64.04
9.33
10.72
0.00
80.38

144.23
74.86
10.82
11.00
0.00
106.41

146.48
87.42
12.56
11.28
0.00
136.99

11.00
102.03
14.61
11.58
0.00
131.59

166.81
160.59
108.91
57.90

182.46
175.77
108.18
74.28

199.29
193.01
107.80
91.49

217.47
212.68
107.80
109.68

237.17
276.52
127.19
109.98

6.00

18.47

57.90

285.13

335.76

(6.00)

(18.47)

(57.90)

(285.13)

(335.76)

137.79
46.64
46.64
10.18
0.00
(0.29)

6.00
6.00
(6.00)

18.47
16.76
(16.76)

57.90
57.90
(57.90)
4,172.33

285.13
258.75
(258.75)

335.76
276.51
(276.51)

152.20
186.85
139.64
12.56

Page 75

DCF - HIGH

7.65%
2,205
15,535
30%
5.4%

EQUITY
Rf:
Beta:
Risk premium:
Cost of equity:

7.0%
0.53
7.5%
11.0%

WACC:

10.2%

7
2007

8
2008

9
2009

10
2010

11
2011

12
2012

13
2013

14
2014

15
2015

16
2016

17
2017

18
2018

19
2019

365
$0.84
308.42
181
$1.97
356.12
664.54

365
$0.89
326.09
181
$2.34
422.76
748.85

365
$0.94
344.77
181
$2.77
501.87
846.64

365
$1.00
364.53
181
$3.29
595.78
960.31

365
$1.06
385.41
181
$3.91
707.27
1,092.68

365
$1.12
407.49
181
$4.64
839.61
1,247.10

365
$1.18
430.84
181
$5.51
996.72
1,427.56

365
$1.25
455.52
181
$6.54
1,183.23
1,638.76

365
$1.32
481.62
181
$7.76
1,404.65
1,886.27

365
$1.40
509.22
181
$9.21
1,667.49
2,176.71

365
$1.48
538.39
181
$10.94
1,979.52
2,517.91

365
$1.56
569.24
181
$12.98
2,349.93
2,919.17

$1.65
0.00
$15.41
0.00
0.00

135.54
52.81
476.19

139.07
54.18
555.60

142.68
55.59
648.37

146.39
57.04
756.88

150.20
58.52
883.96

154.10
60.04
1,032.96

158.11
61.60
1,207.85

162.22
63.21
1,413.33

166.44
64.85
1,654.98

170.76
66.53
1,939.41

175.20
68.26
2,274.44

179.76
70.04
2,669.37

0.00
0.00
-

258.58

281.91

307.40

335.31

365.92

399.55

436.56

477.32

522.26

571.87

626.67

687.24

0.00

192.30
283.88

197.30
358.30

202.43
445.93

207.70
549.18

213.10
670.86

218.64
814.32

224.32
983.53

230.16
1,183.18

236.14
1,418.84

242.28
1,697.13

248.58
2,025.86

255.04
2,414.33

11.88
11.29
272.59

12.19
11.58
346.71

12.50
11.88
434.05

12.83
12.19
536.99

13.16
12.51
658.35

13.50
12.84
801.49

13.85
13.17
970.36

14.21
13.51
1,169.67

14.58
13.86
1,404.98

14.96
14.22
1,682.90

15.35
14.59
2,011.27

15.75
14.97
2,399.36

0.00
0.00
0.00

81.78
190.82

104.01
242.70

130.21
303.83

161.10
375.89

197.50
460.84

240.45
561.04

291.11
679.25

350.90
818.77

421.49
983.49

504.87
1,178.03

603.38
1,407.89

719.81
1,679.55

0.00
-

11.29
119.05
17.02
11.88
0.00
173.21

11.58
138.90
19.85
12.19
0.00
222.24

11.88
162.09
23.19
12.50
0.00
280.02

12.19
189.22
27.13
12.83
0.00
348.13

12.51
220.99
31.77
13.16
0.00
428.42

12.84
258.24
37.25
13.50
0.00
523.12

13.17
301.96
43.72
13.85
0.00
634.84

13.51
353.33
51.37
14.21
0.00
766.69

13.86
413.75
60.41
14.58
0.00
922.35

14.22
484.85
71.11
14.96
0.00
1,106.19

14.59
568.61
83.76
15.35
0.00
1,323.37

14.97
667.34
98.73
15.75
79.15
1,500.89

0.00
(667.34)
0.00
667.34

258.58
302.98
126.47
132.11

281.91
333.36
126.27
155.64

307.40
368.34
126.62
180.78

335.31
408.75
127.51
207.80

365.92
455.53
128.96
236.96

399.55
509.84
130.98
268.58

436.56
573.01
133.59
302.97

477.32
646.64
136.81
340.51

522.26
732.63
140.66
381.60

571.87
833.22
145.17
426.70

626.67
951.07
150.38
476.30

687.24
1,168.48
167.66
519.58

0.00
(667.34)
(86.89)
86.89

Page 76

DCF - EXPECTED

Plan C: Depreciation starts in 2001/all costs and revenues are in nominal terms
Mine life
Payable copper
payable zinc
operating costs
copper treatment charge
zinc treatment charge

14 Years
339 Millions of lbs
168 Millions of lbs
138 1996$ p.a.
0.28 $/lb payable cu
0.22 $/lb payable zinc

1998 price of copper (USD/lb):


1998 price of zinc (USD/lb):
1998 convenience yield of copper
1998 convenience yield of zinc
Long term inflation:

$0.51
$0.42
1.22%
-9.85%
2.60%

capital cost
1988
1999
2000

55 1996 millions
255 1996 millions
292 1996 millions

Feasibility study
1996
1997
Closure costs
tax rate
Sustaining capex
working capital
capital allowances
PV of project at year 2:
PV of feasibility study:
PV of initial capital expenditures
Year

6 1996 millions
18 1996 millions
45 1996 millions
30%
1.5% p.a. of initial capex
25% of net revenue (gross revenue - treatment charges)
20% straight line for all capital
2,150.09
(22.76)
(574.30)
1
2001

2
2002

3
2003

4
2004

Revenues
Amount of copper (Millions lbs)
Price of copper (USD/lb)
Revenues from copper (Millions USD)
Amount of zinc (Millions lbs)
Price of zinc (USD/lb)
Revenues from Zinc (Millions USD)
Total Gross Revenues

339
$0.60
205.06
168
$0.70
118.10
323.16

339
$0.64
216.80
168
$0.83
140.20
357.00

339
$0.68
229.23
168
$0.99
166.43
395.66

339
$0.71
242.36
168
$1.18
197.58
439.94

Treatment Costs
Copper treatment costs (Millions USD)
Zinc treatment costs (Millions USD)
Total Net Revenues

107.92
42.02
173.22

110.72
43.11
203.17

113.60
44.23
237.82

116.56
45.38
278.00

Discounted Net Revenues

141.32

154.88

169.41

185.03

Annual Operating Costs (Millions USD)


Pretax Profits (Millions USD)

156.90
16.32

160.98
42.19

165.16
72.66

169.46
108.54

9.85
133.35
(117.03)
(35.11)
(81.92)

10.11
135.37
(93.18)
(27.95)
(65.23)

10.37
137.44
(64.78)
(19.43)
(45.35)

10.64
139.57
(31.03)
(9.31)
(21.72)

135.37
50.79
7.49
10.11
0.00
52.55

137.44
59.46
8.66
10.37
0.00
73.06

139.57
69.50
10.04
10.64
0.00
97.16

154.88
150.62
102.15
52.73

169.41
164.76
101.41
68.00

185.03
180.83
101.00
84.03

1996

Capital Expenditures
Feasibility (Millions USD)
Capital expenditures (Millions USD)
Depreciation
EBIAT
Taxes
PAT
Adjustments:
Depreciation
Total working capital
Change in working capital
Capital expenditures
Closure costs
Free Cash Flow (Millions USD)
PV Calculations
Discounted net revenues
Total costs
Total costs discounted at WACC
DCF
PV:

6.00

1997

1998

1999

2000

18.47
57.90
0.00
0.00
0.00
-

275.41
0.00
0.00
0.00
-

323.57
0.00
0.00
0.00
-

6.00

18.47

57.90

275.41

323.57

(6.00)

(18.47)

(57.90)

(275.41)

(323.57)

133.35
43.30
43.30
9.85
0.00
(1.73)

6.00
6.00
(6.00)

18.47
16.76
(16.76)

57.90
57.90
(57.90)
2,150.09

275.41
249.93
(249.93)

323.57
266.47
(266.47)

141.32
174.95
130.75
10.57

Page 77

DCF - EXPECTED

WACC Calculation
DEBT
Nominal cost of debt:
Debt:
MV of firm
Tax rate:
Cost of debt:

7.65%
2,205
15,535
30%
5.4%

EQUITY
Rf:
Beta:
Risk premium:
Cost of equity:

7.0%
0.53
7.5%
11.0%

WACC:

10.2%

5
2005

6
2006

7
2007

8
2008

9
2009

10
2010

11
2011

12
2012

13
2013

14
2014

15
2015

16
2016

17
2017

18
2018

339
$0.76
256.25
168
$1.40
234.55
490.80

339
$0.80
270.93
168
$1.66
278.44
549.37

339
$0.84
286.45
168
$1.97
330.54
616.99

339
$0.89
302.86
168
$2.34
392.40
695.26

339
$0.94
320.21
168
$2.77
465.82
786.04

339
$1.00
338.56
168
$3.29
552.99
891.55

339
$1.06
357.96
168
$3.91
656.47
1,014.42

339
$1.12
378.47
168
$4.64
779.31
1,157.77

339
$1.18
400.15
168
$5.51
925.14
1,325.29

339
$1.25
423.08
168
$6.54
1,098.25
1,521.33

$1.32
0.00
$7.76
0.00
0.00

$1.40
0.00
$9.21
0.00
0.00

$1.48
0.00
$10.94
0.00
0.00

$1.56
0.00
$12.98
0.00
0.00

119.59
46.56
324.64

122.70
47.78
378.90

125.89
49.02
442.09

129.16
50.29
515.81

132.52
51.60
601.92

135.96
52.94
702.64

139.50
54.32
820.61

143.13
55.73
958.92

146.85
57.18
1,121.26

150.66
58.67
1,312.00

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

201.91

220.19

240.06

261.72

285.38

311.28

339.70

370.91

405.26

443.09

0.00

0.00

0.00

0.00

173.86
150.78

178.38
200.51

183.02
259.07

187.78
328.03

192.66
409.26

197.67
504.97

202.81
617.80

208.08
750.84

213.49
907.77

219.04
1,092.95

10.92
141.76
9.03
2.71
6.32

11.20
10.65
189.86
56.96
132.90

11.49
10.93
248.14
74.44
173.70

11.79
11.21
316.82
95.04
221.77

12.10
11.50
397.76
119.33
278.43

12.41
11.80
493.17
147.95
345.22

12.74
12.11
605.69
181.71
423.98

13.07
12.42
738.41
221.52
516.89

13.41
12.74
895.02
268.51
626.52

13.76
13.08
1,079.88
323.96
755.91

0.00
0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

141.76
81.16
11.66
10.92
0.00
125.49

10.65
94.72
13.56
11.20
0.00
118.79

10.93
110.52
15.80
11.49
0.00
157.33

11.21
128.95
18.43
11.79
0.00
202.76

11.50
150.48
21.53
12.10
0.00
256.30

11.80
175.66
25.18
12.41
0.00
319.43

12.11
205.15
29.49
12.74
0.00
393.86

12.42
239.73
34.58
13.07
0.00
481.67

12.74
280.31
40.59
13.41
0.00
585.27

13.08
328.00
47.68
13.76
71.43
636.12

0.00
(328.00)
0.00
328.00

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

201.91
199.15
100.94
100.97

220.19
260.11
119.64
100.55

240.06
284.76
118.86
121.20

261.72
313.05
118.58
143.14

285.38
345.62
118.81
166.57

311.28
383.22
119.54
191.74

339.70
426.74
120.81
218.89

370.91
477.25
122.61
248.31

405.26
535.99
124.96
280.30

443.09
675.87
142.99
300.10

0.00
(328.00)
(62.97)
62.97

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

Page 78

DCF - EXPECTED

19
2019
$1.65
0.00
$15.41
0.00
0.00

0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

Page 79

DCF - LOW

Plan C: Depreciation starts in 2001/all costs and revenues are in nominal terms
Mine life
Payable copper
payable zinc
operating costs
copper treatment charge
zinc treatment charge

12 Years
313 Millions of lbs
155 Millions of lbs
131 1996$ p.a.
0.28 $/lb payable cu
0.22 $/lb payable zinc

1998 price of copper (USD/lb):


1998 price of zinc (USD/lb):
1998 convenience yield of copper
1998 convenience yield of zinc
Long term inflation:
Mean drift of copper price per year:
Mean drift of zinc prices per year:

capital cost
1988
1999
2000

54 1996 millions
246 1996 millions
281 1996 millions

$0.51
$0.42
1.22%
-9.85%
2.60%
0.00%
0.00%

Feasibility study
1996
1997
Closure costs
tax rate
Sustaining capex
working capital
capital allowances
PV of project at year 2:
PV of feasibility study:
PV of initial capital expenditures
Year

6 1996 millions
18 1996 millions
45 1996 millions
30%
1.5% p.a. of initial capex
25% of net revenue (gross revenue - treatment charges)
20% straight line for all capital
1,409.68
(22.76)
(554.39)
1
2001

2
2002

3
2003

4
2004

Revenues
Amount of copper (Millions lbs)
Price of copper (USD/lb)
Revenues from copper (Millions USD)
Amount of zinc (Millions lbs)
Price of zinc (USD/lb)
Revenues from Zinc (Millions USD)
Total Gross Revenues

313
$0.60
189.33
155
$0.70
108.96
298.29

313
$0.64
200.18
155
$0.83
129.35
329.53

313
$0.68
211.65
155
$0.99
153.56
365.20

313
$0.71
223.77
155
$1.18
182.29
406.06

Treatment Costs
Copper treatment costs (Millions USD)
Zinc treatment costs (Millions USD)
Total Net Revenues

99.64
38.77
159.88

102.23
39.78
187.52

104.89
40.81
219.50

107.62
41.87
256.57

Discounted Net Revenues

130.44

142.95

156.35

170.77

Annual Operating Costs (Millions USD)


Pretax Profits (Millions USD)

148.94
10.94

152.81
34.71

156.78
62.72

160.86
95.71

9.51
128.69
(117.74)
(35.32)
(82.42)

9.76
130.64
(95.93)
(28.78)
(67.15)

10.01
132.64
(69.92)
(20.98)
(48.95)

10.27
134.69
(38.98)
(11.69)
(27.29)

130.64
46.88
6.91
9.76
0.00
46.82

132.64
54.87
8.00
10.01
0.00
65.69

134.69
64.14
9.27
10.27
0.00
87.87

142.95
140.70
95.42
47.53

156.35
153.81
94.67
61.69

170.77
168.70
94.23
76.55

1996

Capital Expenditures
Feasibility (Millions USD)
Capital expenditures (Millions USD)
Depreciation
EBIAT
Taxes
PAT
Adjustments:
Depreciation
Total working capital
Change in working capital
Capital expenditures
Closure costs
Free Cash Flow (Millions USD)
PV Calculations
Discounted net revenues
Total costs
Total costs discounted at WACC
DCF
PV:

6.00

1997

1998

1999

2000

18.47
56.84
0.00
0.00
0.00
-

265.69
0.00
0.00
0.00
-

311.38
0.00
0.00
0.00
-

6.00

18.47

56.84

265.69

311.38

(6.00)

(18.47)

(56.84)

(265.69)

(311.38)

128.69
39.97
39.97
9.51
0.00
(3.21)

6.00
6.00
(6.00)

18.47
16.76
(16.76)

56.84
56.84
(56.84)
1,409.68

265.69
241.11
(241.11)

311.38
256.43
(256.43)

130.44
163.09
121.89
8.55

Page 80

DCF - LOW

WACC Calculation
DEBT
Nominal cost of debt:
Debt:
MV of firm
Tax rate:
Cost of debt:

7.65%
2,205
15,535
30%
5.36%

EQUITY
Rf:
Beta:
Risk premium:
Cost of equity:

7.02%
0.53
7.50%
11.00%

WACC:

10.19%

5
2005

6
2006

7
2007

8
2008

9
2009

10
2010

11
2011

12
2012

13
2013

14
2014

15
2015

16
2016

17
2017

18
2018

313
$0.76
236.59
155
$1.40
216.40
452.99

313
$0.80
250.15
155
$1.66
256.89
507.04

313
$0.84
264.48
155
$1.97
304.97
569.45

313
$0.89
279.63
155
$2.34
362.03
641.67

313
$0.94
295.65
155
$2.77
429.78
725.43

313
$1.00
312.59
155
$3.29
510.20
822.79

313
$1.06
330.50
155
$3.91
605.67
936.17

313
$1.12
349.44
155
$4.64
719.00
1,068.44

$1.18
0.00
$5.51
0.00
0.00

$1.25
0.00
$6.54
0.00
0.00

$1.32
0.00
$7.76
0.00
0.00

$1.40
0.00
$9.21
0.00
0.00

$1.48
0.00
$10.94
0.00
0.00

$1.56
0.00
$12.98
0.00
0.00

110.42
42.96
299.62

113.29
44.08
349.68

116.23
45.22
407.99

119.25
46.40
476.01

122.35
47.61
555.47

125.54
48.84
648.41

128.80
50.11
757.26

132.15
51.42
884.88

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

186.34

203.21

221.55

241.53

263.36

287.26

313.47

342.27

0.00

0.00

0.00

0.00

0.00

0.00

165.04
134.57

169.33
180.34

173.74
234.25

178.25
297.76

182.89
372.58

187.64
460.77

192.52
564.74

197.53
687.35

10.54
136.80
(2.23)
(0.67)
(1.56)

10.81
10.28
170.07
51.02
119.05

11.09
10.54
223.71
67.11
156.60

11.38
10.82
286.94
86.08
200.86

11.68
11.10
361.48
108.44
253.04

11.98
11.39
449.38
134.81
314.57

12.29
11.68
553.05
165.92
387.14

12.61
11.99
675.36
202.61
472.75

0.00
0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

136.80
74.90
10.76
10.54
0.00
113.94

10.28
87.42
12.52
10.81
0.00
106.00

10.54
102.00
14.58
11.09
0.00
141.47

10.82
119.00
17.01
11.38
0.00
183.29

11.10
138.87
19.86
11.68
0.00
232.60

11.39
162.10
23.24
11.98
0.00
290.74

11.68
189.31
27.21
12.29
0.00
359.32

11.99
221.22
31.90
12.61
67.85
372.37

0.00
(221.22)
0.00
221.22

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

186.34
185.67
94.11
92.23

203.21
243.68
112.08
91.13

221.55
266.52
111.25
110.30

241.53
292.72
110.88
130.65

263.36
322.87
110.99
152.37

287.26
357.67
111.58
175.68

313.47
397.94
112.65
200.82

342.27
512.51
131.66
210.61

0.00
(221.22)
(51.57)
51.57

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

Page 81

DCF - LOW

19
2019
$1.65
0.00
$15.41
0.00
0.00

0.00
0.00
0.00
-

0.00
0.00
0.00
0.00
-

0.00
0.00
-

0.00
0.00
-

Page 82

Macro

Macro1
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Page 83

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