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หน้ า
1. AC Substation 6
2. Substation Grounding 14
3. Safety in Grounding 17
4. Range of Tolerable Current g 22
5. Tolerable Body Current Limit 25
6. Accidental Ground Circuit 27
7. Criteria of Tolerable Voltage 41
8. Principal Design Considerations 47
9. Selection of Conductors and Connections 56
10. Soil Characteristics 64
11. Soil Structure and Selection of Soil Model 69
12. Evaluation of Ground Resistance 75
13. Determination of Maximum Grid Current 81
14. Design of Grounding System 101
15. Refinement of Preliminary Design 121
16. Special Areas of Concern 124
17. Sample Calculations 129
18. Substation Grounding Sulotion 162
Substation Grounding Design
to IEEE 80
By
Asst Prof Prasit Pittayapat
«. ¦³· Í · ¡·¥¡´ r 1
Contents
1 AC Substation
2 Substation Grounding
3 Safety in Grounding
4 Range of Tolerable Current g
5 Tolerable Body Current Limit
6 Accidental Ground Circuit
7 Criteria of Tolerable Voltage
8 Principal Design Considerations
9 Selection of Conductors and Connections
1 AC Substation
1. Definition
- Transform voltage from high to low or low to high
- Perform any several other functions
Connect , Disconnect
Protection , Monitoring
Metering
etc
«. ¦³· Í · ¡·¥¡´ r 4
6
2. Types
- Generation Substation
- Transmission Substation
- Distribution Substation
- Transformer
- CB
- VT , CT
- Isolating Switch
- Bus
4. Basic Designs
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2 Substation Grounding
- Substation Grounding very important
for safety of personal and equipment operation
- The most important standard
IEEE 80 Guide for Safety in AC Substation Grounding
- First Edition IEEE 80 std 1961
- Major Revision IEEE 80 std 1986
- Copies Available IEEE 80 std Edition 1986 , 2000 , 2013
«. ¦³· Í · ¡·¥¡´ r 20
14
«. ¦³· Í · ¡·¥¡´ r 21
Chulalongkorn University
Thesis , Master of Engineering
- In either ease
can be lethal
Magnitude
- Current of 1 mA , Threshold of perception
- 1 mA - 9 mA , let - go currents , unpleasant to sustain do not
impair the ability of a person to control muscles and release it
- 9 mA - 15 mA , may be painful , impossible to release energized
objects muscular contractions could make breathing difficult
- 60 mA - 100 mA , Ventricular fibrillation , stoppage of the heart
cause injury or death
Duration
The non - fibrillating current magnitude IB
at duration ranging from 0.03 s - 3.0 s
is related to the energy absorbed by the body
SB = ( IB )2 x t s
Where
IB = rms current through the body ( A )
tS = duration of the currant exposure ( S )
SB = Empirical Constant related to the electric shock
energy tolerated by a current percent of a given
population
and
«. ¦³· Í · ¡·¥¡´ r 43
For tS = 1s , IB = 116 mA
tS = 0.1 s , IB = 367 mA
«. ¦³· Í · ¡·¥¡´ r 44
26
Provided that the average population weight
Touch Voltage
Figure 6
«. ¦³· Í · ¡·¥¡´ r 52
30
Thevenin Equivalent Circuit
Figure 7
«. ¦³· Í · ¡·¥¡´ r 53
Figure 8
«. ¦³· Í · ¡·¥¡´ r 54
31
- The Thevenin Voltage VTh
is the voltage between terminals H , F
when the person is not present ( open circuit )
VTh
Ib = Z Th RB
ZTh is represented by
the equivalent impedance of the person’s feet
Step Voltage
Figure 9
«. ¦³· Í · ¡·¥¡´ r 60
34
Step Voltage Circuit
Figure 10
«. ¦³· Í · ¡·¥¡´ r 61
Etouch = IB ( RB + 1.5 U )
and
Estep = IB ( RB + 6.0 U )
Figure 11
«. ¦³· Í · ¡·¥¡´ r 71
1. Definitions
Ground Potential Rise ( GPR )
GPR = IG x Rg
«. ¦³· Í · ¡·¥¡´ r 74
41
Mesh Voltage ( Em )
Step Voltage
experienced by a person
bridging a distance of 1 m
Transferred Voltage
Figure 13
«. ¦³· Í · ¡·¥¡´ r 80
44
3. Step Voltage Criteria
EStep50 = 1877 V
Etouch50 = 592 V
«. ¦³· Í · ¡·¥¡´ r 83
1. Definitions
Auxiliary Ground Electrode
- A ground electrode with certain design
or operating constraints.
Its primary function may be other than conducting
the ground fault current into the earth
«. ¦³· Í · ¡·¥¡´ r 1
Ground Electrode
Grounding System
- Comprises all interconnected ground facilities
in a specific area
Primary Ground Electrode
- A ground electrode specifically designed or adapted
for discharge the ground fault current into the ground.
Often in a specific discharge pattern
as required by the grounding system design
«. ¦³· Í · ¡·¥¡´ r 4
48
2. General Concept
- A grounding system will limit
the effect of ground potential gradients
- That will not endanger the safety of people or equipment
under normal and fault conditions
- The grounding system in substation has the form of
a grid of horizontally buried conductors , supplemented
by a number of vertical ground rods connected to the grid
«. ¦³· Í · ¡·¥¡´ r 5
1. Basic Requirements
Considerations
Grid conductors , connections , connecting leads
primary electrodes should be designed to
a) Have sufficient conductivity
b) Resist fusing and mechanical deterioration
c) Be mechanically reliable and rugged to a high degree
d) Be able to maintain its function
even when exposed to Corrosion or Physical Abuse
«. ¦³· Í · ¡·¥¡´ r 20
56
2. Choice of Material for Conductors
1) Copper
- Copper is a common material used
- High conductivity
3) Aluminum
- Aluminum has rarely been used for ground grids
may be used
0 54
1 42
2 34
3 27
4 21
6 13
«. ¦³· Í · ¡·¥¡´ r 27
IG = 31.5 kA
A mm2 = 93.2 mm2 95 , 120 mm²
IG = 40 kA
A mm2 = 118.4 mm2 120 mm²
«. ¦³· Í · ¡·¥¡´ r 31
4. Formula Simplification
Figure 16
«. ¦³· Í · ¡·¥¡´ r 35
- Very useful
a) in retarding the evaporation of moisture
thus limiting the drying of topsoil layers
3. Resistivity Measurements
- IEEE std 81
- Werner Four-pin Method
If b is small compared to a
Ua = 2 S a R
«. ¦³· Í · ¡·¥¡´ r 49
- At a spacing a
Apparent resistivity to a depth of a
Sverak equation
= 1.62 ɏ
= 1.84 ɏ
= 1.84 ɏ
a) Use of Salt
- Use of sodium chloride, magnesium, and copper sulfates,
or calcium chloride
- Increase the conductivity of the soil immediately
surrounding an electrode
- Possible leaching to surrounding areas
- The salt treatment must be renewed periodically
«. ¦³· Í · ¡·¥¡´ r 62
77
b) Use of Betonites
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Figure 30
«. ¦³· Í · ¡·¥¡´ r 82
87
Fig 30
- Distribution Substation
- Ground fault on HV side of power transformer
- At Power Source , all ground fault current
will flow back to the Neutral
- In Fig 30 IF = 1492 A
Some ground fault current flow back
via OH Ground wire and Tower Footing
IF1 = 444 A
To determine Ig
the current division factor Sf must be computed
«. ¦³· Í · ¡·¥¡´ r 94
93
The Process of Computation consists
Example Figure 31
- Shows a one - feeder distribution substation
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Split Factor is
3) Soil Resistivity U
- The Grid Resistance , Voltage Gradients
directly dependent on Soil Resistivity
- U vary horizontally as well as vertically
Sufficient data must be gathered to
calculate the average apparent resistivity
5) Grid Geometry
- To prevent overdesign
only the current that flows through the grid
should be used in designing the grid
Step 10 Es vs Estep
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113
4. Calculation of
Maximum Step and Mesh Voltages
Mesh voltage ( Em )
For
Grids with ground rods along the perimeter
or Grids with ground rods in the grid corners
as well as both along the perimeter
and throughout the grid area
otherwise
where
Where
- Another approach is
to vary the grid conductor spacing
with closer conductors near the perimeter of the grid
1. Service Areas
- Step and Touch Voltage
within fenced substation areas
a) Higher resistances
for separate safety and system grounds
are produced than would be the case
for a single uniform ground system.
7. Transferred Potentials
- Substation 63 m × 84 m ( 5292 m 2 )
129
Step 2 Conductor Size
Line to Ground Fault Current Calculation
130
«¦³· ·Í ¡· ¥¡´ r 5
and, hence
131
Using Table 10 for fault duration of 0.5 s,
the decrement factor Df is approximately 1.0
132
Because
the conductor diameter is approximately 4.7 mm,
or 0.0047 m if it is solid conductor.
Based on this computation, a copper wire
as small as size No. 4 AWG could be used,
but due to the mechanical strength
and ruggedness requirements,
a larger 2 / 0 AWG stranded conductor
with diameter d = 0.0105 m (0.414 in)
is usually preferred as a minimum.
«¦³· ·Í ¡· ¥¡´ r 9
133
«¦³· ·Í ¡· ¥¡´ r 11
134
Step 3 Touch and Step Criteria
- For a 0.102 m layer of surface material
Wet resistivity of 2500 ɏ-m
- Earth resistivity of 400 ɏ-m
- The reflection factor K is computed
135
Assuming that for the particular station
the location of grounded facilities
within the fenced property is such that
the person’s weight can be expected to be at least 70 kg
Equation for 70 kg person may be used
to compute the tolerable step and touch voltages,
respectively, as follows:
Estep70 = 2686.6 V
Etouch70 = 838.2 V
136
Step 4 Initial Design
137
Step 5 Determination of Grid Resistance
- L T = 1540 m
- A = 4900 m 2
- h = 0.5 m
and
138
Though the 13 kV bus fault value of 6814 A
is greater than the 115 kV bus fault value of 3180 A,
it is recalled from Clause 15 that the wye-grounded 13 kV
transformer winding is a “ local” source of fault current
and does not contribute to the GPR.
Thus, the maximum grid current is based on 3180 A
Step 7 GPR
- It is necessary to compare the product of IG and Rg
or GPR, to the tolerable touch voltage, Etouch70
139
Step 8 Mesh Voltage
Where
And
140
The factor Ki is computed
using Equations
Where
n b = 1 for square grid
n c = 1 for square grid
n d = 1 for square grid
And therefore
141
Step 9 Em versus Etouch
- The mesh voltage is higher than
the tolerable touch voltage 1002.1 V
142
«¦³· ·Í ¡· ¥¡´ r 29
- Substation 4900 m 2
- Average soil resistivity of 400 ɏ - m
A 2 / 0 AWG ( 67 mm 2 ) Conductor
with diameter d = 0.0105 m (0.414 in)
144
Step 6 Maximum Grid Current IG
Step 7 GPR
Where
145
And
146
Calculation of Step Voltage
Step 9 Em vs Etouch
- Now the calculation corner mesh voltage
is lower than the tolerable touch voltage
747.4 V vs 838.2 V
Step 10 Es vs Estep
- The computed Es
is well below the tolerable step voltage
548.9 V vs 2686.6 V
«¦³· ·Í ¡· ¥¡´ r 38
147
Step 11 Modify Design
- Not necessary
148
- Choosing
Spacing D = 7 m for 63 m × 84 m
- The grid pattern is 10 × 13
- The grid conductor combined length is
(13 × 63) + (10 × 84) = 1659 m
149
Step 1 Field Data
- Substation 63 x 84 = 5292 m 2
- Average soil resistivity of 400 ɏ - m
A 2 / 0 AWG ( 67 mm 2 ) Conductor
with diameter d = 0.0105 m ( 0.414 in )
- L T = 1659 + 38 x 10 = 2039 m
- A = 63 x 84 = 5292 m 2
Step 7 GPR
- Using IG = 1908 A
Rg = 2.62 ɏ
151
Step 8 Mesh Voltage
- Estimate the corner mesh voltage
Where
152
Finally, Em
Step 9 Em vs Etouch
153
Step 10 Es vs Estep
- Substation 4900 m 2
A 2 / 0 AWG ( 67 mm 2 ) Conductor
with diameter d = 0.0105 m (0.414 in)
«. ¦³· Í · ¡·¥¡´ r 55
Compute Km
Em is computed
Step 9 Em vs Etouch
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^ŝŵƉůĞƋƵĂƚŝŽŶ͗/^ƚĚ ϴϬͲϮϬϭϯ͕WĂŐĞϲϳ
&ŽƌƌĞĂϮϳdžϭϴŵ͕'ƌŝĚϯdžϯŵĂŶĚϳϬŐƌŽƵŶĚƌŽĚƐ
ͳ ͳ ͳ
ൌ ɏ ͳ
்ܮ ʹͲܣ ͳ ݄ ʹͲȀܣ
ͳ ͳ ͳ
ൌ ʹͲͲ ͳ
ͷͻ ʹͲሺͶͺሻ ͳ ͲǤͷ ʹͲȀͶͺ
ൌ ͶǤʹͳȳ
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'ƌŽƵŶĚ'ƌŝĚĞƐŝŐŶŝŶŝĨĨŝĐƵůƚŽŶĚŝƚŝŽŶƐ
^ĐŚǁĂƌnj͛ƐƋƵĂƚŝŽŶ͗/^ƚĚ ϴϬͲϮϬϭϯ͕WĂŐĞϲϳ
&ŽƌƌĞĂϮϳdžϭϴŵ͕'ƌŝĚϯdžϯŵĂŶĚϳϬŐƌŽƵŶĚƌŽĚƐ
ɏ ʹୡ ͳ ൈ ୡ ɏ ʹୡ ͳ ൈ ୡ
ୋ୰୧ୢ ൌ ୫ ൌ ሺ ሻ െ ʹ ͳ
Ɏ
ሺ c ሻ
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ɏ с^ŽŝůZĞƐŝƐƚŝǀŝƚLJ;ȳͼŵͿ
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сƌĞĂŽǀĞƌĞĚďLJŽŶĚƵĐƚŽƌƐ;ŵϮͿ
Ŭϭ͕ŬϮсŽĞĨĨŝĐŝĞŶƚƐ;/ϴϬͲϮϬϭϯ͕WĂŐĞϲϵ͕&ŝŐƵƌĞϮϰͿ
ɏ ͺ୰ ʹͳ ൈ ୰
െ ଶ୫
ୖ୭ୢ ൌ ሺ െ ͳሻଶ ൌ
ʹɎ ሺ ଶ ሻ െ ͳ
ୖ୭ୢ െ ʹ ୫
ŶZ сdŽƚĂůEƵŵďĞƌŽĨ'ƌŽƵŶĚ
>ƌ с>ĞŶŐƚŚŽĨĞĂĐŚ'ƌŽƵŶĚZŽĚ;ŵͿ
ĚϮ сŝĂŵĞƚĞƌŽĨ'ƌŽƵŶĚZŽĚ;ŵͿ
^ŽůƵƚŝŽŶ
164
'ƌŽƵŶĚ'ƌŝĚĞƐŝŐŶŝŶŝĨĨŝĐƵůƚŽŶĚŝƚŝŽŶƐ
^ĐŚǁĂƌnj͛ƐƋƵĂƚŝŽŶ͗/^ƚĚ ϴϬͲϮϬϭϯ͕WĂŐĞϲϳ
&ŽƌƌĞĂϮϳdžϭϴŵ͕'ƌŝĚϯdžϯŵĂŶĚϳϬŐƌŽƵŶĚƌŽĚƐ
ɏ ʹୡ ͳ ൈ ୡ ɏ ʹୡ ͳ ൈ ୡ
ୋ୰୧ୢ ൌ ୫ ൌ ሺ ሻ െ ʹ ͳ
Ɏ
ሺ c ሻ
െ ʹ
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ʹͲͲ ሺʹሻሺ͵ͻሻ ͳǤ͵ͷ ൈ ͵ͻ ʹͲͲ ሺʹሻሺ͵ͻሻ ሺͳǤ͵ͷሻ ൈ ሺ͵ͻሻ
ୋ୰୧ୢ ൌ ሺ ሻ െ ͷǤʹͷ ൌ ሺ ሻ െ ͷǤʹͷ ͳ
ߨሺ͵ͻሻ ሺͲǤͲͺሻ Ͷͺ ߨሺ͵ͻሻ ሺ͵ሻ ሺ Ͷͺሻ
ɏ ͺ୰ ʹͳ ൈ ୰
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ୖ୭ୢ ൌ ሺ െ ͳሻଶ ൌ
ʹɎ ሺ ଶ ሻ െ ͳ
ୖ୭ୢ െ ʹ ୫
ʹͲͲ ሺͺሻሺ͵ሻ ሺʹሻሺͳǤ͵ͷሻ ൈ ͵
ൌ ሺ ሻെͳ ሺ Ͳ െ ͳሻଶ ͶǤͶͺ ሺͶǤͲͲሻ െ ሺͶǤͲ͵ሻʹ
ʹߨ Ͳ ሺ͵ሻ ሺͲǤͲͳͶʹሻ Ͷͺ ൌ
ͶǤͶͺ ͶǤͲͲ െ ʹሺͶǤͲ͵ሻ
ୖ୭ୢ ൌ ͶǤͲͲȳ
ൌ ͶǤͲͲȳ
^ŽůƵƚŝŽŶ
'ƌŽƵŶĚ'ƌŝĚĞƐŝŐŶŝŶŝĨĨŝĐƵůƚŽŶĚŝƚŝŽŶƐ
/^ƚĚ ϴϬͲϮϬϭϯ͗WĂŐĞϯϮ͕ůĂƵƐĞƐϵ͘ϱĐ
^ŽůƵƚŝŽŶ
165
^ŽŝůdƌĞĂƚŵĞŶƚƚŽ>ŽǁĞƌ'ƌŽƵŶĚZĞƐŝƐƚĂŶĐĞ
/^ƚĚ ϴϬͲϮϬϭϯ͗WĂŐĞϳϬ͕ůĂƵƐĞƐϭϰ͘ϱ
hƐĞŽĨ^Ăůƚ;Ğ͘Ő͘^ŽĚŝƵŵŚůŽƌŝĚĞ͕ĂůĐŝƵŵŚůŽƌŝĚĞ͕ŽƉƉĞƌ^ƵůĨĂƚĞƐͿ
ŚĞŵŝĐĂů'ƌŽƵŶĚZŽĚ
ĞŶƚŽŶŝƚĞ
'ƌŽƵŶĚŶŚĂŶĐĞŵĞŶƚDĂƚĞƌŝĂů
^ŽůƵƚŝŽŶ
^ŽŝůdƌĞĂƚŵĞŶƚƚŽ>ŽǁĞƌ'ƌŽƵŶĚZĞƐŝƐƚĂŶĐĞ
/^ƚĚ ϴϬͲϮϬϭϯ͗WĂŐĞϳϬ͕ůĂƵƐĞƐϭϰ͘ϱĂ͕ϭϰ͘ϱĐ
ĨĨĞĐƚĞĚƚŽ^ƵƌƌŽƵŶĚŝŶŐƌĞĂĂŶĚŶǀŝƌŽŶŵĞŶƚ
EŽƚWĞƌŵĂŶĞŶƚ͕DĂŝŶƚĞŶĂŶĐĞZĞƋƵŝƌĞĚ
^ŽůƵƚŝŽŶ
166
^ŽŝůdƌĞĂƚŵĞŶƚƚŽ>ŽǁĞƌ'ƌŽƵŶĚZĞƐŝƐƚĂŶĐĞ
ŚĞŵŝĐĂů'ƌŽƵŶĚZŽĚ
ĨĨĞĐƚĞĚƚŽ^ƵƌƌŽƵŶĚŝŶŐƌĞĂĂŶĚŶǀŝƌŽŶŵĞŶƚ
EŽƚWĞƌŵĂŶĞŶƚ͕DĂŝŶƚĞŶĂŶĐĞZĞƋƵŝƌĞĚ
^ŽůƵƚŝŽŶ
^ŽŝůdƌĞĂƚŵĞŶƚƚŽ>ŽǁĞƌ'ƌŽƵŶĚZĞƐŝƐƚĂŶĐĞ
/^ƚĚ ϴϬͲϮϬϭϯ͗WĂŐĞϳϬ͕ůĂƵƐĞƐϭϰ͘ϱď
EŽƚWĞƌŵĂŶĞŶƚ
ƌĂĐŬĂŶĚ>ŽŽƐĞŶŝƚƐWƌŽƉĞƌƚŝĞƐŝŶƚŚĞƌLJ^ĞĂƐŽŶ
^ŽůƵƚŝŽŶ
167
^ŽŝůdƌĞĂƚŵĞŶƚƚŽ>ŽǁĞƌ'ƌŽƵŶĚZĞƐŝƐƚĂŶĐĞ
ĞŶƚŽŶŝƚĞ
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^ŽůƵƚŝŽŶ
^ŽŝůdƌĞĂƚŵĞŶƚƚŽ>ŽǁĞƌ'ƌŽƵŶĚZĞƐŝƐƚĂŶĐĞ
/^ƚĚ ϴϬͲϮϬϭϯ͗WĂŐĞϳϬ͕ůĂƵƐĞƐϭϰ͘ϱĚ
3 ƉƉůŝĐĂďůĞƚŽŶĐĂƐĞƚŚĞůĞĐƚƌŽĚĞ;^ĂŵĞĂƐŽŶĐƌĞƚĞŶĐĂƐĞĚůĞĐƚƌŽĚĞͿ
3 sĞƌLJ>ŽǁZĞƐŝƐƚŝǀŝƚLJ
3 WĞƌŵĂŶĞŶƚ
3 ŶǀŝƌŽŶŵĞŶƚ&ƌŝĞŶĚůLJ͕EŽƚ>ĞĂĐŚĂŶLJŚĞŵŝĐĂůŝŶƚŽƚŚĞ'ƌŽƵŶĚ
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168
'ƌŽƵŶĚŶŚĂŶĐĞŵĞŶƚDĂƚĞƌŝĂů
D'ĞĞƉ'ƌŽƵŶĚtĞůů
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ZĞĐŽŵŵĞŶĚĞĚƚŽƵƐĞĚĞĞƉŐƌŽƵŶĚƌŽĚĞŶĐĂƐĞďLJ
ĞĂƌƚŚŝŶŐ ĞŶŚĂŶĐŝŶŐĐŽŵƉŽƵŶĚ͘
,ŽůĞŝĂŵĞƚĞƌTϮϬʹ ϯϬĐŵ
,ŽůĞĞƉƚŚϲʹ ϭϮŵ
EŽƚĞ͗ĞĞƉŐƌŽƵŶĚƌŽĚŝƐŶŽƚĂƉƉƌŽƉƌŝĂƚĞĨŽƌůŝŐŚƚŶŝŶŐƉƌŽƚĞĐƚŝŽŶƐLJƐƚĞŵ
^ŽůƵƚŝŽŶ
'ƌŽƵŶĚŶŚĂŶĐĞŵĞŶƚDĂƚĞƌŝĂů
džĂŵƉůĞ͗ZŽĚTϭϰ͘Ϯŵŵ͕,ŽůĞTϮϬĐŵ͕ĞƉƚŚϲŵ
^ŽůƵƚŝŽŶ
169
'ƌŽƵŶĚŶŚĂŶĐĞŵĞŶƚDĂƚĞƌŝĂů
D'ĞĞƉ'ƌŽƵŶĚtĞůů
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'ƌŽƵŶĚŶŚĂŶĐĞŵĞŶƚDĂƚĞƌŝĂů
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ŝŵƉŽƐƐŝďůĞƚŽĚƌŝǀĞŶƚŚĞŐƌŽƵŶĚƌŽĚ͘
ZĞĐŽŵŵĞŶĚĞĚƚŽŵĂŬĞĂƚƌĞŶĐŚĂŶĚŝŶƐƚĂůůŐƌŽƵŶĚĐŽŶĚƵĐƚŽƌŚŽƌŝnjŽŶƚĂůůLJĂŶĚ
ĞŶĐĂƐĞĚďLJĞĂƌƚŚŝŶŐ ĞŶŚĂŶĐŝŶŐĐŽŵƉŽƵŶĚ͘
tŝĚƚŚŽĨdƌĞŶĐŚϮϬʹ ϯϬĐŵ
ƵƌŝĂůĞƉƚŚϯϬʹ ϱϬĐŵ
ĂƌƚŚŶŚĂŶĐŝŶŐŽŵƉŽƵŶĚdŚŝĐŬŶĞƐƐϱĐŵ
ϱĐŵ
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^ŽůƵƚŝŽŶ
170
'ƌŽƵŶĚŶŚĂŶĐĞŵĞŶƚDĂƚĞƌŝĂů
džĂŵƉůĞ͗ʌ сϮϬϬɏͼŵ͕dƌĞŶĐŚǁŝĚƚŚϯϬĐŵ͕>ĞŶŐƚŚϭϬŵ͕ƵƌŝĂůĞƉƚŚϬ͘ϱŵ
ૉ ܔ
܀ൌ ܖܔ െ
ૈܔ ܅۲
ሺሻ
܀ൌ ܖܔ െ ൌ ૢǤ ૠષ
ૈሺሻ ሺǤ ሻሺǤ ሻ
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'ƌŽƵŶĚŶŚĂŶĐĞŵĞŶƚDĂƚĞƌŝĂů
D'dƌĞŶĐŚ
^ŽůƵƚŝŽŶ
171
'ƌŽƵŶĚ'ƌŝĚǁŝƚŚD'ĂůĐƵůĂƚŝŽŶ
D'ŶĐĂƐĞĚ'ƌŽƵŶĚZŽĚ
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D'ŶĐĂƐĞĚ'ƌŽƵŶĚZŽĚ
Ϯϳŵ ϭϯZŽĚƐ
ϭϴŵ
'ƌŝĚ^ŝnjĞϯdžϯŵ
^ŽůƵƚŝŽŶ
'ƌŽƵŶĚ'ƌŝĚǁŝƚŚD'ĂůĐƵůĂƚŝŽŶ
^ĐŚǁĂƌnj͛ƐƋƵĂƚŝŽŶ͗/^ƚĚ ϴϬͲϮϬϭϯ͕WĂŐĞϲϳ
&ŽƌƌĞĂϮϳdžϭϴŵ͕'ƌŝĚϯdžϯŵĂŶĚϭϯD'ĞŶĐĂƐĞĚŐƌŽƵŶĚƌŽĚƐ ϭϱĐŵ͕>ĞŶŐƚŚϭϬŵ
ɏ ʹୡ ͳ ൈ ୡ ɏ ʹୡ ͳ ൈ ୡ
ୋ୰୧ୢ ൌ ୫ ൌ ሺ ሻ െ ʹ ͳ
Ɏ
ሺ c ሻ
െ ʹ
Ɏ
ɏ ͺ୰ ʹͳ ൈ ୰
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ୖ୭ୢ ൌ ሺ െ ͳሻଶ ൌ
ʹɎ ሺ ଶ ሻ െ ͳ
ୖ୭ୢ െ ʹ ୫
D'tĞůůĞƉƚŚсϭϬŵ
ŝĂŵĞƚĞƌŽĨD'сϬ͘ϭϱŵ
^ŽůƵƚŝŽŶ
172
'ƌŽƵŶĚ'ƌŝĚǁŝƚŚD'ĂůĐƵůĂƚŝŽŶ
^ĐŚǁĂƌnj͛ƐƋƵĂƚŝŽŶ͗/^ƚĚ ϴϬͲϮϬϭϯ͕WĂŐĞϲϳ
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ሺ c ሻ
െ ʹ
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ୋ୰୧ୢ ൌ ሺ ሻ െ ͷǤʹͷ ൌ ሺ ሻ െ ͷǤʹͷ ͳ
ߨሺ͵ͻሻ ሺͲǤͲͺሻ Ͷͺ ߨሺ͵ͻሻ ሺͳͲሻ ሺ Ͷͺሻ
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ୖ୭ୢ െ ʹ ୫
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ʹߨ ͳ͵ ሺͳͲሻ ሺͲǤͳͷሻ Ͷͺ ൌ
ͶǤͶͺ ͵Ǥ͵͵ െ ʹሺ͵Ǥͺʹሻ
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ൌ ͳǤͻʹȳ
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'ƌŽƵŶĚ'ƌŝĚǁŝƚŚD'ĂůĐƵůĂƚŝŽŶ
^ƚƵĚLJ^ƵŵŵĂƌŝnjĞ͗
&ŽƌƌĞĂϮϳdžϭϴŵ͕࣋ сϮϬϬȳŵ͕'ƌŝĚϯdžϯŵ
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173
'ƌŽƵŶĚŶŚĂŶĐĞŵĞŶƚDĂƚĞƌŝĂůdĞƐƚŝŶŐ^ƚĂŶĚĂƌĚ
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>ĞĂĐŚŝŶŐdĞƐƚ͗dŚĞĐŽŶƐƚŝƚƵĞŶƚƐŽĨŝŶƚĞƌĞƐƚƐŚĂůů
ŶŽƚĞdžĐĞĞĚƚŚĞƌĞŐƵůĂƚŝŽŶůŝŵŝƚ͘
^ƵůĨƵƌĞƚĞƌŵŝŶĂƚŝŽŶ͗^ŚĂůůďĞůĞƐƐƚŚĂŶϮй͘
ĞƚĞƌŵŝŶĂƚŝŽŶŽĨZĞƐŝƐƚŝǀŝƚLJ
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178
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