                                        33

     

  XYZ          
$160,       Brock.  ,
        
.   ,      
   60% [($160  $100)/$100].      
   .        
  ,        -
 :

  =

      
         
              

  
   

(2.2)

   (2.2)       
    (.  (2.1)),    .
         ,   
           -
   .

      XYZ   $130  , 
       23% {[$100  100 )  (1 + 0,6) 
- ($130  100  )]/($130  100 ) = $3000/$13 000}.  , 
    30%,      ,   
      .        
 ,     ,  ,  -
         .

     , , ,    
        ,  ,
   .        
    ,     
19.

  ,        
        ,   ,
            -
 .       ,    -
,   ,       -
,   .        -
       .  -
     ,       ,
 ,  ,      
 ,  .

       ,     -
?         .
   ,  ,   , 
  .      ,   
            (cash
balance),    . (   