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GMA711S-MANAGEMENT ACCOUNTING 310- 1ST OPP -JUNE 2025 |
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nAmlBIA unlVERSITY
OF SCIEnCE Ano TECHnOLOGY
FACULTY OF COMMERCE, HUMAN SCIENCES AND EDUCATION
DEPARTMENT OF ECONOMICS, ACCOUNTING AND FINANCE
QUALIFICATION: BACHELOR OF ACCOUNTING
QUALIFICATION CODE: 0?BGAC LEVEL:?
COURSE CODE: GMA711 S
COURSE NAME: MANAGEMENT ACCOUNTING 310
SESSION: JUNE 2025
PAPER: THEORY AND CALCULATIONS
DURATION: 3 HOURS
MARKS: 100
EXAMINERS
MODERATOR
FIRST OPPORTUNITY EXAMINATION QUESTION PAPER
Lameck Odada; Moses Nyakuwanika and Rabanus Nashinwe
Alfred Makosa
INSTRUCTIONS
1. This question paper consists of FOUR (4) Questions.
2. Answer ALL the FOUR (4) questions in blue or black ink only. NO PENCIL and TIPEX
3. Start each question on a new page and number the answers correctly and clearly.
4. Write clearly and neatly, showing all your formulas, workings, and assumptions.
5. Unless otherwise stated, round off final answers only to two (2) decimal places.
6. Questions relating to this examination may be raised in the initial 30 minutes after the start
of the examination. Thereafter, candidates must use their initiative to deal with any
perceived error or ambiguities, and any assumptions the candidate makes should be
clearly stated.
PERMISSIBLE MATERIALS
1. Silent, non-programmable calculators
THIS QUESTION PAPER CONSISTS OF _7_ PAGES (including this front page)
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QUESTION 1
[30 MARKS]
Charm Inc., a software company, has developed a new game, Fingo', which it plans to launch
soon. Sales of the new game are expected to be very strong, following a favourable review by
a popular PC magazine. Charm Inc. has been informed that the review will give the game a
'Best Buy' recommendation. Sales volumes, production volumes, and selling prices for 'Fingo'
over its four-year life are expected to be as follows
Year
1
2
3
4
Sales and production (units)
150 000
70 000 60 000
60 000
Selling price (N$ per game)
25
24
23
22
Financial information on 'Fingo' for the first year of production is as follows:
N$
Direct material cost
5.40 per game
Other variable production cost
6.00 per game
Fixed costs
4.00 per game
Advertising costs to stimulate demand are expected to be N$650 000 in the first year of
production and N$100 000 in the second year of production. No advertising costs are expected
in the third and fourth years of production. Fixed costs represent incremental cash fixed
production overheads. The fixed cost per unit is based on normal production of 150 000 units.
Assume there is no over/under allocation of fixed costs.
'Fingo' will be produced on a new production machine costing N$800 000. Although this
production machine is expected to have a useful life of up to ten years, government legislation
allows Charm Inc. to claim the capital cost of the machine against the manufacture of a single
product. Capital allowances will, therefore, be claimed on a straight-line basis over four years.
Charm Inc. pays tax on profit at a rate of 30% per year, and tax liabilities are settled in the
year in which they arise. Charm Inc. uses an after-tax discount rate of 10% when appraising
new capital investments. Ignore inflation.
REQUIRED:
MARKS
a) Calculate the net present value of the proposed investment.
20
b) Calculate the internal rate of return of the proposed investment using
5
20% cost of capital
c) Discuss the reasons why the net present value investment appraisal
5
method is preferred to other investment appraisal methods
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QUESTION 2
[20 MARKS]
CYMOT is a privately-owned, wholly Namibian company founded in 1948. The Company has
since grown to become a leader in the supply of quality products to its customers through its
distribution network of branches within Namibia, as well as trading on a wholesale basis in
both South Africa and Angola.
The company is launching a new product. Market research shows that if the selling price of
the product is N$2100 the demand will be 2 400 units, but for every N$20 increase in selling
price there will be a corresponding decrease in demand of 400 units and for every N$20
decrease in selling price there will be a corresponding increase in demand of 200 units. The
estimated variable costs of the product are N$60 per unit. There are no specific fixed costs,
but general fixed costs are absorbed using an absorption rate of N$16 per unit.
REQUIRED
MARKS
Identify four (4) external factors the company should consider when setting
4
a)
the price of the new product
Derive an equation for the demand function (that is, the price as a function
4
= = b)
of quantity demanded). Note: If P a-bx, then MR a-2bx.
c) Find the quantity that maximises profit
4
d) Calculate the optimum price
2
e) Determine the contribution and maximum profit
5
QUESTION 3
[25 MARKS]
The Portable Garage Co (PGC) is a company specialising in manufacturing and selling a
range of products for motorists. It is split into two divisions: the battery division (Division B)
and the adaptor division (Division A). Division B sells one product - portable battery chargers
for motorists, which can be attached to a car's battery and used to start the engine when the
car's battery fails.
Division A sells adaptors that are used by customers to charge mobile devices and laptops by
attaching them to the car's internal power source. Recently, Division B has upgraded its
portable battery so it can also be used to rapidly charge mobile devices and laptops. The
mobile device or laptop must be attached to the battery using a special adaptor, which is
supplied to the customer with the battery. Division B currently buys the adaptors from Division
A, which also sells them externally to other companies.
The following data is available for both divisions:
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Division B
Sellinq price for each portable battery, including the adaptor
Costs per battery:
Adaptor from Division A
Other materials from external suppliers
Labour costs
Annual fixed overheads
Annual production and sales of portable batteries (units)
Maximum annual market demand for portable batteries (units)
N$180
N$13
N$45
N$35
N$5 460 000
150 000
180 000
Division A
Sellinq price per adaptor to Division B
Sellinq price per adaptor to external customers
Costs per adaptor:
Materials
Labour costs
Annual fixed overheads
Current annual production capacity and sales of adaptors - both
internal and external sales (units)
Maximum annual external demand for adaptors (units)
N$13
N$15
N$3
N$4
N$2 200 000
350 000
200 000
In addition to the materials and labour costs above, Division A incurs a variable cost of N$1
per adaptor for all adaptors it sells externally. Currently, the head office's purchasing policy
only allows Division B to purchase the adaptors from Division A, but Division A has refused to
sell Division B any more than the current level of adaptors it supplies to it. The manager of
Division Bis unhappy. He has a special industry contact whom he could buy the adaptors from
at exactly the same price charged by Division A if he were given the autonomy to purchase
from outside the group. After discussions with both of the divisional managers and to ensure
that the managers are not demotivated, Head Office has now agreed to change the purchasing
policy to allow Division B to buy externally, provided that it optimises the profits of the group
as a whole.
REQUIRED
MARKS
a) Identify and describe the THREE (3) methods of transfer pricing
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Under the current transfer pricing system, prepare a profit statement 19
showing each division's profit and the PGC as a whole. Where appropriate,
b)
your sales and cost figures should be split into external sales and inter-
divisional transfers.
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QUESTION 4
[25 MARKS]
The manager of Steel Force is deciding whether or not to make and sell storage sheds.
Experience has shown that there are three possible alternatives to build a new modern plant,
upgrade the existing plant, or do nothing. Demand for sheds will be high, moderate, or low.
The profit for each of the possible outcomes is as follows:
Outcomes (Demand)
Alternatives
High
Moderate
Low
New modern plant
200 000
100 000
(120 000)
Upgrade the existing plant
90 000
50 000
(20 000)
Do nothing
0
0
0
Probability of outcome
30%
50%
20%
REQUIRED:
MARKS
a) Describe the Maximax criteria and determine which alternative the
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manager should select under this criterion
b) Describe the Maximin criteria and determine which alternative the
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manager should select under this criterion
c) Describe the Equally Likely criteria and determine which alternative the
3
manager should select under this criterion
d) Describe the Minimax Regret criteria and determine which alternative
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the manager should select under this criterion
e) Describe the Expected Monetary Value (EMV) and determine which
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alternative the manager should select under this criterion
f) Describe the Expected Value of Perfect Information (EVPI) and
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determine which alternative the manager should select under this
criterion
END OF EXAMINATION PAPER
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TABLE A
Future value interest factor of $1 per period at i% for n periods, FVIF(i,n).
Period
1%
1 1.010
2 1.020
3 1.030
4 1.041
5 1.051
6 1.062
7 1.072
2%
1.020
1.040
1.061
1.082
1.104
1,126
1,149
3%
1.030
1.061
1.093
1.126
1.159
1.194
1.230
4%
1.040
1.082
1.125
1.170
1.217
1.265
1.316
5%
1.050
1.103
1.158
1.216-
1.276
1.340
1.407
6%
1.060
1.124
1.19"1
1.262
1.338
1.419
1.504
7%
1.070
1.145
1.225
1.311
1.403
1.501
1.606
8%
1.080
1.166
1.260
1.360
1.469
1.587
1.714
9%
1.090
1.188
1.295
1.412
1.539
1.677
1.628
10%
1.100
1.210
1.331
1.464
1.611
1.772
1.949
11%
12%
1.110 1.120
1.232 1.254
1.366 1.405
1.518 1.574
1.685 ·_ 1.762
1.870 1.974
2.076 2.211
13%
1.130
1.277
1.443
1.630
1.642
2.082
2.353
14%
1.140
1.300
1.482
1.689
1.925
2.195
2.502
8 1.063 1.172 1.267 1.369
9 1.094 1.195 1.305 1.423
10 1.105 1.219 1.344 1.480
1.477
1.551
1.629
1.594
1.689
1.791
1.718
1.638-
1.967
1.851
1.999
2.159
1.993
2.172
2.367
2.144
2.358
2.594
2.305
2.558
2.839
2.476
2.773
3.106
2.656
3.004
3.395
2.853
3.252
3.707
11 1.116 1.243 1.384 1.539 1.710 1.898 2.105 2.332 2.580
12 1.127 1.268 1.426 1.601 1.796 2.012 2.252 2.518 2.813
2.853
3.138
3.152
3.498
3.479
3.896
3.836
4.335
4.226
4.818
13 1.138 1.294 1.469 1.665 1.886 2.133 2.410 2.720 3.066 3.452 3.883 4.363 4.898 5.492
14 1.149
15 1.161
16 1.173
17 1.184
1.319
1.346
1.373
1.400
1.513
1.558
1.605
1.653
1.732
1.801
1.873
1.948
1.980
2.079
2.183
2.292
2.261
2.397
2.540
2.693
2.579
2.759
2.952
3.159
2.937
3.172
3.426
3.700
3.342
3.642
3.970
4.328
3.797
4.177
4.595
5.054
4.310
4.785
5.311
5.895
4.887
5.474
6.130
6.866
5.535
6.254
7.067
7.986
6.261
7.138
8.137
9.276
18 1.196 1.428 1.702 2.026 2.407 2.854 3.380 3.996 4.717 5.560 6.544 7.690 9.024 10.575
19 1.208 1.457 1.754 2.107
20 1.220 1.486 1.806 2.191
25 1.262 1.641 2.094 2.666
2.527
2.653
3.386
3.026
3.207
4.292
3.617
3.870
5.427
4.316
4.661
6.848
5.142
5.604
8.623
6.116
6.727
10.835
7.263
8.062
13.585
6.613
9.646
17.000
10.197
11.523
21.231
12.056
13.743
26.462
30 1.348
35 1.417
40 1.489
50 1.645
1.811
2.000
2.208
2.692
2.427
2.814
3.262
4.384
3.243
3.946
4.801
7.107
4.322
5.516
7.040
11.467
5.743
7.686
10.286
16.420
7.612
10.677
14.974
29.457
10.063
14.785
21.725
46.902
13.266
20.414
31.409
74.358
17.449
28.102
45.259
117.391
22.892
38.575
65.001
184.565
29.960
52.800
93.051
289.002
39.116
72.069
132.782
450.736
50.950
98.100
188.884
700.233
15%
1.150
1.323
1.521
1.749
2.011
2.313
2.660
3.059
3.518
4,046
4.652
5.350
6.153
7.076
8.137
9.358
10.761
12.375
14.232
16.367
32.919
66.212
133.176
267.864
1.083.657
16%
1.160
1.346
1.561
1.811
2.100
2.436
2.826
3.278
3.803
4.411
5.117
5.936
6.886
7.988
9.266
10.748
12.468
14.463
16.m
19.461
40.874
85.850
160.314
378.721
1,670.704
17%
1.170
1.369
1.602
1.874
2.192
2.565
3.001
3.511
4.108
4.807
5.624
6.580
7.699
9.007
10.539
12.330
14.426
16.679
19.748
23.106
50.658
111.065
243.503
533.869
2.566.215
18%
1.180
1.392
1.643
1.939
2.288
2.700
3.185
3.759
4.435
5.234
6.176
7.288
8.599
10.147
11.974
14.129
16.672
19.673
23.214
27.393
62.669
143.371
327.997
750.378
3.927.357
19~1,
20%
1.190
1.200
1.416
1.440
1.685
1.728
2.005
2.074
2.386
2.488
2.840
2.986
3.379
3.583
4,021
4.300
4.785
5.160
5.695
6.192
6.777
7.430
8.064
8.916
9.596
10.699
11.420
12.839
13.590
15.407
16.172
18.488
19.244
22.166
22.901
26.623
27.252
31.948
32.429
38.338
77.386
95.396
184.675 237.376
440.701 590.668
1,051.668 1,469.772
5,988.914 9. 100.438
TABLE B
Present value interest factor of $1 per"period at io/ofor n periods, PVIF(i,n).
Period
1
2
3
4
5
6
7
8
9
· 10
11
12
13
14
15
16
17
18
19
20
25
30
35
40
50
1%
0.990
0.980
0.971
0.961
0.951
0.942
0.933
0.923
0.914
0.905
0.896
0.887
0.879
0.870
0.861
0.853
0.844
0.836
0.828
0.820
0.780
0.742
0.706
0.672
0.608
2%
0.980
0.961
0.942
0.924
0.906
0.888
0.871
0.853
0.837
0.820
0.804
0.788
0.773
0.758
0.743
0.728
0.714
0.700
0.686
0.673
0.610
0.552
0.500
0.453
0.372
3%
0.971
0.943
0.915
0.888
0.863
0.837
0.813
0.789
0.766
0.744
0.722
0.701
0.681
0.661
0.642
0.623
0.605
0.587
0.570
0.554
0.478
0.412
0.355
0.307
0.228
4%
5%
0.962 0.952
0.925 0.907
0.889 0.864
0.855 0.823
0.822 0.784
0.790 0.746
0.760 0.711
0.731 0.677
0.703 0.645
0.676 0.614
0.650 0.585
0.625 0.557
0.601 0.530
0.577 0.505
0.555 0.481
0.534 0.458
0.513 0.436
0.494 ' 0.416
0.475 0.396
0.456 0.377
0.375 0.295
0.308 0.231
0.253 0.181
0.208 0.142
0.141 0.087
6%
0.943
0.890
0.840
0.792
0.747
0.705
0.665
0.627
0.592
0.558
0.527
0.497
0.469
0.442
0.417
0.394
0.371
0.350
0.331
0.312
0.233
0.174
0.130
0.097
0.054
7%
0.935
0.873
· 0.816
0.763
0.713
0.666
0.623
0.582
0.544
0.508
0.475
0.444
0.415
0.388
0.362
0.339
0.317
0.296
0.277
0.258
0.184
0.131
0.094
0.067
0.034
8%
0.926
0.857
0.794
0.735
0.681
0.630
0.583
0.540
0.500
0.463
0.429
0.397
0.368
0.340
0.315
0.292
0.270
0.250
0.232
0.215
0.146
0.099
0.068
0.046
0.021
9% 10% 11% 12% 13% 14% 15% 16% 17% 18% 19%1 20%
0.917 0.909 0.901 0.893 0.885 0.877 0.870 0.862 0.855 0.847 0.840 0.833
0.842 0.826 0.812 0.797 0.783 0.769 0.756 0.743 0.731 0.718 0.706 0.694
0.772· 0.751 0.731 0.712 0.693 0.675 0.658 0.641 0.624 0.609 0.593 0.579
0.708 0.683 Q.659 0.636 ·0.613 0.592 0.572 0.552 0.534 0.516 0.499 0.482
0.650 0.621 0.593 0.567 0.543 0.519 0.497 0.476 0.456 0.437 0.419 0.402
0.596 0.564 0.535 0.507 0.480 0.456 0.432 0.410 0.390 0.370 0.352 0.335
0.547 0.513 0.482 0.452 0.425 0.400 0.376 0.354 0.333 0.314 0.296 0.279
0.502 0.467 0.434 0.404 0.376 0.351 0.327 0.305 0.285 0.266 0.249 0.233
0.460 0.424 0.391 0.361 0.333 0.308 0.284 0.263 0.243 0.225 0.209 0.194
0.422 0.386 0.352 0.322 0.295 0.270 0.247 0.227 0.208 0.191 0.176 0.162
0.388 0.350 0.317 0.287 0.261 0.237 0.215 0.195 0.178 0.162 0.148 0.135
0.356 0.319 0.286 0.257 0.231 0.208 0.187 0.168 0.152 0.137 0.124 0.112
0.326 0.290 0.258 0.229 0.204 0.182 0.163 0.145 0.130 0.116 0.104 0.093
0.299 0.263 0.232 0.205 0.181 0.160 0.141 0.125 0.111 0.099 0.088 0.078
0.275 0.239 0.209 0.183 0.160 0.140 0.123 0.108 0.095 0.084 0.074 0.065
0.252 0.218 0.188 0.163 0.141 0.123 0.107 0.093 0.081 0.071 0.062 0.054
0.231 0.198 0.170 0.146 0.125 0.108 0.093 0.080 0.069 0.060 0.052 0.045
0.212 0.180 0.153 0.130 0.111 0.095 0.081 0.069 0.059 0.051 0.044 0.038
0.194 0.164 0.138 0.116 0.098 0.083 0.070 0.060 0.051 0.043 0.037 0.031
0.178 0.149 0.124 0.104 0.087 0.073 0.061 0.051 0.043 0.037 0.031 0.026·
0.116 0.092 0.074 0.059 0.047 0.038 0.030 0.024 0.020 0.016 0.013 0.010
0.075 0.057 0.044 0.033 0.026 0.020 0.015 0.012 0.009 0.007 0.005 0.004
0.049 0.036 0.026 0.019 0.014 0.010 0.008 0.006 0.004 0.003 0.002 0.002
0.032 0.022 0.015 0.011 0.008 0.005 0.004 0.003 0.002 0.001 0.001 0.001
0.013 0.009 0.005 0.003 0.002 0.001 0.001 0.001 0.000 0.000 0.000 0.000
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TABLE C
i-uture vaIue Interest·TactorOTan orainarv annuItv or ::,1oer oenoa at I-;oTorn oenoas. i-vu-Au.nJ.
Period I 1%
2%
3%
4%
5%1 6%
7%
8%
9% 10%1 11% 12% 13% 14% 15% 16% 17% 18% 19% 20%\\
1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000
2 2.010 2.020 2.030 2.040 2.050 2.060 2.070 2.080 2.090 2.100 2.110 2.120 2.130 2.140 2.150 2.160 2.170 2.180 2.190 2.200
3 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.342 3.374 3.407 3.440 3.473 3.506 3.539 3.572 3.606 3.640
4 4.060 4.122 4.184 4.246 4.310 4.375 4.440 4.506 4.573 4.641 4.710 4.779 4.850 4.921 4.993 5.066 5.141 5.215 5.291 5.368
5 5.101 5.204 5.309 5.416 5.526 5.637 5.751 5.867 5.985 6.105 6.228 6.353 6.480 6.610 6.742 6.877 7.014 7.154 7.297 7.442
6 6.152 6.308 6.468 6.633 6.802 6.975 7.153 7.336 7.523 7.716 7.913 8.115 8.323 8.536 8.754 8.977 9.207 9.442 9.683 9.930
7 7.214 7.434 7.662 7.898 8.142 8.394 8.654 8.923 9.200 9.487 9.783 10.089 10.405 10.730 11.067 11.414 11.T72 12.142 12.523 12.916
8 8.286 8.583 8.892 9.214 9.549 9.897 10.260 10.637 11.028 11.436 11.859 12.300 12.757 13.233 13.727 14.240 14.773 15.327 15.902 16.499
9 9.369 9.755 10.159 10.583 11.027 11.491 11.978 12.488 13.021 13.579 14.164 14.776 15.416 16.085 16.786 17.519 18.285 19.086 19.923 20.799
10 10.462 10.950 11.464 12.006 12.578 13.181 13.816 14.487 15.193 15.937 16.722 17.549 18.420 19.337 20.304 21.321 22.393 23.521 24.709 25.959
11 11.567 12.169 12.808 13.486 14.207 14.972 15.784 16.645 17.560 18.531 19.561 20.655 21.814 23.045 24.349 25.733 27.200 28.755 30.404 32.150
12 12.683 13.412 14.192 15.026 15.917 16.870 17.888 18.977 20.141 21.384 22.713 24.133 25.650 27.271 29.002 30.850 32.824 34.931 37.180 39.581
13 13.809 14.680 15.618 16.627 17.713 18.882 20.141 21.495 22.953 24.523 26.212 28.029 29.985 32.089 34.352 36.786 39.404 42.219 45.244 48.497
14 14.947 15.974 17.086 18.292 19.599 21.015 22.550 24.215 26.019 27.975 30.095 32.393 34.883 37.581 40.505 43.672 47.103 50.818 54.841 59.196
15 16.097 17.293 18.599 20.024 21.579 23.276 25.129 27.152 29.361 31.772 34.405 37.280 40.417 43.842 47.580 51.660 56.110 60.965 66.261 72.035
16 17.258 18.639 20.157 21.825 23.657 25.673 27.888 30.324 33.003 35.950 39.190 42.753 46.672 50.980 55.717 60.925 66.649 72.939 79.850 . 87.442
17 18.430 20,012 21.762 23.698 25.840 28.213 30.840 33.750 36.974 40.545 44.501 48.884 53.739 59.118 65.075 71.673 78.979 87.068 96.022 105.93
. 18 19.615 21.412 23.414 25.645 28.132 30.906 33.999 37.450 41.301 45.599 50.396 55.750 61.725 68.394 75.836 84.141 93.406 103.74 115.27 .128.12
19 20.811 22.841 25.117 27.671 30.539_ 33.760 37.379 41.446 46.018 51.159 56.939 63.440 70.749 78.9.69 88.212 98.603 110.28 123.41 138.17 154.74
20 22.019 24.297 26.870 29.778 33.066 36.786 40.995 45.762 51.160 57.275 64.203 72.052 80.947 91.025 102.44 115.38 130.03 146.63 165.42 186.69
25 28.243 32.030 36.459 41.646 47.727 54.865 63.249 73.106 84.701 98.347 114.41 133.33 155.62 181.87 212.79 249.21 292.10 342.60 402.04 471.98
30 34.785 40.568 47.575 56.085 66.439 79.058 94.461 113.28 136.31 164.49 199.02 241.33 293.20 356.79 434.75 530.31 647.44 790.95 966.71 1,181.9
35 41.660 49.994 60.462 73.652 90.320 111.43 138.24 172.32 215. 71 271.02 341.59 431.66 546.68 693.57 881.17 1,120.7 1,426.5 1,816.7 2,314.2 2,948.3
40 48.886 60.402 75.401 95.026 120.80 154.76 199.64 259.06 337.88 442.59 581.83 767.09 1,013.7 1,342.0 1,779.1 2,360.8 3,134.5 4,163.2 5,529.8 7,343.9
50 64.463 84.579 112.80 152.67 209.35 290.34 406.53 573.77 815.08 1.163.9 1,668.8 2.400.0 3.459.5 4,994.5 7,217.7 10.436 15,090 21.813 31,515 45.497
TABLED
Present value interest factor of an (ordinary) annuity of $1 per period at i% for n periods, PVIFA(i,n).
Period
1%
1 0.990
2 1.970
3 2.941
4 3.902
5 4.853
6 5.795
7 6;728
8 7.652
9 8.566
10 9.471
11 10.368
12 11.255
13 12.134
14 13.o'04
15 13.865
16 14.718
17 15.562
18 16.398
19 17.226
20 18.046
25 22.023
2%
0.980
1.942
2.884
3,808
4.713
5.601
6.472
7.325
8.162
8"983
9.787
10.575
11.348
12.106
12.849
13.578
14.292
14.992
15.678
16.351
19.523
3%
0.971
1.913
2.829
3.717
4.580
5.417
6.230
7.020
7.786
8.530
9.253
9.954
10.635
11.296
11.938
12.561
13.166
13.754
14.324
14.877
17.413
4o/o
5%
0.962 0.952
1.886 1.859
2.775 2.723
3.630 3.546
4.452 4.329
5.242 5.076
6.002 5.786
6.733 6.463
7.435 7.108
8.111 7.722
8.760 8.306
9.385 8.863
9.986 9.394
10.563 9.899
11.118 10,380
11,652 10.838
12.166 11.274
12.659 11,690
13.134 12.085
13.590 12.462
15.622 14.094
6%
0.943
1.833
2.673
3,465
4.212
4.917
5.582
6.210
6.802
7.360
7.887
8.384
8.853
9.295
9.i12
10.106
10.4TT
10.828
11.158
11.470
12.783
7%
0.935
1.808
2.624
3.387
4.100
4.767
5.389
5.971
6.515
7.024
7.499
7.943
8.358
8.745
9.108
9.447
9.763
10.059
10.336
10.594
11.654
8%
0.926
1.783
2.577
3.312
3.993
4.623
5.206
5.747
6.247
6.710
7.139
7.536
7.904
8.244
8.559
8,851
9.122
9.372
9.604
9.618
10.675
9%
0.917
1.759
2.531
3.240
3.890
4.486
5.033
5.535
5.995
6.418
6.805
7.161
7.487
7.786
8.061
8.313
8.544
8.756
8.950
9.129
9.823
10%
0.909
1.736
2.487
3.170
3.791
4.355
4.868
5.335
5.759
6.145
6.495
6.814
7.103
7.367
7.606
7.824
8.022
8.201
8.365
8.514
9.077
11%
0.901
1.713
2.444
3.102
3.696
4.231
4.712
5.146
5.537
5,889
6.207
6.492
6.750
6.982
7.191
7.379
7.549
7.702
7.839
7.963
8.422
12% 13%
0.893 0.885
1.690 1.668
2.402 2.361
3.037 2.974
3.605 3.517
4.111 3.998
4.564 4.423
4.968 4.799
5.328 5.132
5.650 5.426
5.938 5.687
6.194 5.918
6.424 6.122
6.628 6.302
6.811 6.462
6.974 6.604
7.120 6.729
7.250 6.840
7.366 · 6.938
7.469 7.025
7.843, 7.330
14%
0.877
1.647
2.322
2.914
3.433
3.889
4.288
4.639
4.946
5.216
5.453
5.660
5.842
6.002
6.142
6.265
6.373
6.467
6.550
6.623
6.873
15%
0.870
1,626
2.283
2.855
3.352
3.784
4.160
4.487
4.772
5.019
5.234
5.421
5.583
5.724
5.847
5.954
6.047
6.128
6.198
6.259
6.464
16%
0.862
1.605
2.246
2.798
3.274
3,685
4.039
4.344
4.607
4.833
5.029
5.197
5.342
5.468
5.575
5.668
5.749
5.818
5.877
5.929
6.097
17%
0.855
1.585
2.210
2.743
3.199
3.589
3.922
4.207
4.451
4.659
4.836
4.988
5.118
5.229
5.324
5.405
5.475
5.534
5.584
5.628
5.766
18%
0.847
1.566
2.174
2.690
3.127
3.498
3.812
4.078
4.303
4.494
4.656
4.793
4.910
5.008
5.092
5.162
5.222
5.273
5.316
5.353
5.467
19%1 20%
0.840 0.833
1.547 1.528
2.140 2.106.
2.639 2.589
3,058 2.991
3.410 3.326
3.706 3.605
3.954 3.837
4.163 4.031
4.339 4.192
4.486 4.327.
4.611 4.439
4.715 4.533
4.802 4.611
4.876 4.675
4.938 4.730
4.990 4.775
5.033 4.812
5.070 4.843
5.101 4,870
5.195 4.948
30 25.808 22.396 1s.6·00 17.292 15.372 13.765 12.409 11.258 10.274 9.427 8.694 8,055 7.496 7.003 6.566 6.177 5.829 5.517 5.235 4.979
35 29.409 24.999 21.487 18.665 16.374 14.498 12.948 11.655 10.567 9.644 8.855 8.176 7.586 7.070 6.617 6.215 5.858 5.539 5.251 4.992
40 32.835 27.355 23.115 19.793 17.159 15.046 13.332 11.925 10.757 9.779 8.951 8.244 7.634 7.105 6.642 6.233 5.871 5.548 5.258 4.997
50 39.196 31.424 25.730 21.482 18.256 15.762 13.801 12.233 10.962 9.915 9 042 8.304 7.675 7.133 6.661 6.246 5.880 5.554 5.262 4.999
21%
0.826
1.509
2.074·
2.540
2.926
3.245
3.508
3.726
3.905
4.054
4.177
4.2i8
4.362
4.432
4.489
4.536
4.576
4.608
4.635
4.657
4.721
4.746
4.756
4.760
4.762
22%
0.820
1.492
2.042
2.494
2.864
3.167
3.416
3.619
3.786
3.923
4.035
4.127
4.203
4.265
4.315
4.357
4.391
4.419
4.442
4.460
'4.514
4.534
4.541
4.544
4.545
23%
0.813
1.474
2.011
2.448
2.803
3.092
3.327
3.518
3,673
3.799
3.902
3.985
4.053
4.108
4.153
4.189
4.219
4.243
4.263
4.279
4.323
4.339
4.345
4.347
4.348