tag:blogger.com,1999:blog-77019616750265196392024-03-13T09:34:07.096-06:00Common Sense ForecasterCSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.comBlogger1046125tag:blogger.com,1999:blog-7701961675026519639.post-64932659727549561892016-02-23T06:51:00.000-07:002016-02-23T06:51:32.779-07:00<br />
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<span style="color: blue; font-family: "arial" , "helvetica" , sans-serif; font-size: large;"><b>Can a Bear Market Indicate the the Potential for a Recession?</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">This question reminds of the quote from the famous 20th century MIT economist, Paul Samuelson, "the stock market has predicted 9 of the last 5 recessions". </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">If we are at the beginning stages of a recession then soon the unemployment rate will begin to increase and economic growth will begin to slow. Given the recent decline in the unemployment rate (see below) and continued job growth that seems unlikely. In addition although economic growth is relatively weak by historical standards it continues to chug along.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">A recent analysis by Steve Liesman at <a href="http://www.cnbc.com/2016/02/04/can-the-markets-predict-recessions-what-we-found-out.html">CNBC</a> shows that since the end of WWII the US stock market has suffered 13 bear markets. A recession followed within 12 months of the bear market on 7 occasions for a hit rate of 53% (about like flipping a coin).</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">So is it axiomatic that that the US is headed into a recession due to the recent decline in the stock markets. No. There is about 50-50 chance the US is headed into a recession. Given the decline in the unemployment rate and a weak but flat economic growth rate the chances for a recession are relatively low. Besides as stated in my previous post the recent decline in the markets is more than likely caused by the selling of SWFs and has little to do with the US economy.</span></div>
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<br />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-20462074544757504112016-02-22T16:05:00.002-07:002016-02-23T06:48:07.570-07:00<div style="text-align: center;">
<b><span style="color: blue; font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Why is the Stock Market so Volatile in the First Two Months of 2016?</span></b></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Time to get real about what is going on with the stock market this year. All this talk about a possible recession, the concern about more Fed tightening, the economic slowdown in China, etc. are just a lot of talking points for the folks in the mainstream media (MSM). </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Rule #1 about the stock market - stock prices go down because there are more sellers than buyers. Therefore, someone is selling.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Who is this selling in the US markets? </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">1. If you take the 50 day moving average of the volume on the S&P 500 index since January 4 (first trading day of the year) there have only been 3 trading days out of 33 or 9.1% (through Feb. 19) that have been below the 50-day moving average. A similar analysis using the NASDAQ indicates that only 7 out of 33 trading days (21.2%) were below the 50-day moving average. Let's face it in any random 33 day period one would expect about half of the days to be above and half of the days to be below the 50-day moving average for volume. Based on this very simple analysis it appears someone is selling. By the way, I did the same count of the S&P 500 for 2015 (Jan. 5 through Feb. 19, 2015) and found 16 of the 32 trading days were below the 50-day moving average or exactly 50%.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span><span style="font-family: "arial" , "helvetica" , sans-serif;">2. Could this be panic selling? For this I looked at the VIX, a measure of volatility for the S&P 500. The market drop in late August gives an indication of what high volatility looks like when the market is in "panic" selling mode. Since January 4, the levels of volatility are higher than a year ago, but nowhere near the levels seen in August. This indicates that the selling seen since the first of the year is orderly. Don't believe me. Go to <a href="http://stockcharts.com/h-sc/ui">Stockcharts.com</a> and plot the VIX yourself (symbol $VIX).</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">3. Even the casual observer of the market will notice a correlation (not causation) between the price of oil and S&P 500 since the first of the year. A simple correlation analysis between the price of crude oil and the S&P 500 index indicates a correlation of about 85% since the first of the year. The same analysis for the last 35 trading days of 2015 shows a correlation between the price of crude and S&P 500 of 68%. Considerably less. Does the market know something about the relationship between the price of oil and stock market that the rest of us retail investors do not? Probably.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">So what does all this mean? </span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">1. The S&P 500 is down and the volume is up.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">2. Volatility is up, but not in panic mode.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">3. The S&P 500 is closely correlated with the price of oil so far this year.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Enter the Sovereign Wealth Fund (SWF). What is a SWF? A SWF is basically a savings account for countries, especially those that have a lot of excess cash like the oil exporting countries. A good definition can be found at the SWF Institute or SWFI website (<a href="http://www.swfinstitute.org/sovereign-wealth-fund/">SWF#1</a>). Investopedia also has a good definition <a href="http://www.investopedia.com/terms/s/sovereign_wealth_fund.asp">SWF#2</a>.</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">These Funds are usually quite large and are just not restricted to oil-exporting countries. For example China, Singapore, and South Korea have SWFs. Only about 60% of SWF assets are energy related. Some of the largest SWFs are the oil-exporting countries like (estimated size in billions of dollars):</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Norway $825 B</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">UAE 773</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Saudi Arabia 623</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Kuwait 592</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Qatar 256</span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif;">In total the world's SWFs have about $7 Trillion in assets and the largest ones had about $3.04 Trillion in stocks world wide at the end of 2015. According to Bloomberg if the price of oil stays between $30 and $40 this year the some of the oil-exporting SWFs will sell about $404 billion of equities worldwide (<a href="http://www.bloomberg.com/news/articles/2016-02-22/sovereign-wealth-funds-seen-selling-404-billion-of-equities">Bloomberg #1</a>) to cover government budget shortfalls caused by lower oil prices. The SWFI estimates that the SWFs sold about $213 billion in listed US equities in 2015 (<a href="http://www.swfinstitute.org/swf-article/revealed-sustained-low-oil-prices-may-prompt-larger-sovereign-fund-selloff-9310278/">SWFI #1</a>), which continued into the first two months of this year.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">I looks like the sellers are the SWFs.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">If you are an investor what does that mean to you? Several things:</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">1. Assume the market this year will have periods of high volatility as SWFs enter the market to liquidate some of their equity positions.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">2. If you use technical analysis to guide you through your investing assume their will be periods when the signals do not work well. Large-scale selling will trump most market signals.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">3. However you choose to handle the market, get ready for a tough year in the markets.</span><br />
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<span style="font-family: "arial" , "helvetica" , sans-serif;">Good luck!</span><br />
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CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-59923599019451497982014-07-10T14:15:00.000-06:002014-07-10T14:15:58.696-06:00<b><span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;">US Housing Starts Through May 2014</span></b><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">US housing starts both total and 1-unit structures from January 1959 through May 2014. Note the spread between total and 1-unit structures for the last few years.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">From the <a href="http://research.stlouisfed.org/fred2/">St. Louis Federal Reserve Bank</a>:</span><br />
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<img src="http://research.stlouisfed.org/fredgraph.jpg?hires=1&type=image/jpeg&chart_type=line&recession_bars=on&log_scales=&bgcolor=%23e1e9f0&graph_bgcolor=%23ffffff&fo=verdana&ts=12&tts=12&txtcolor=%23444444&show_legend=yes&show_axis_titles=yes&drp=0&cosd=1959-01-01%2C1959-01-01&coed=2014-05-01%2C2014-05-01&width=670&height=445&stacking=&range=&mode=fred&id=HOUST%2CHOUST1F&transformation=lin%2Clin&nd=%2C&ost=-99999%2C-99999&oet=99999%2C99999&scale=left%2Cleft&line_color=%234572a7%2C%23aa4643&line_style=solid%2Csolid&lw=2%2C2&mark_type=none%2C&mw=1%2C1&mma=0%2C0&fml=a%2Ca&fgst=lin%2Clin&fq=Monthly%2CMonthly&fam=avg%2Cavg&vintage_date=%2C&revision_date=%2C" height="425" width="640" />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-48504832750936565422014-07-09T05:32:00.000-06:002014-07-09T05:32:04.295-06:00<b><span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;">Karl Case of the Case-Shiller Index Comments About Housing.</span></b><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Continuing the topic of housing from the previous 2 posts, below are comments made about the housing market from Karl Case of Case-Shiller Index fame. It is fair to say that he sees difficult times ahead in the housing market.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">The article is in italics and the bold is my emphasis. From <a href="http://money.cnn.com/2014/07/07/investing/housing-market-case/index.html">CNN Money</a>:</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: small;"><i>The housing market is a "crapshoot" now, according to one of America's leading real estate experts.</i></span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Karl "Chip" Case is an economist whose name is synonymous with home prices. He is co-creator of the much watched S&P/Case-Shiller home price indexes with Bob Shiller, who won the Nobel Prize in economics last year.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>"You've got much more negative vibrations in the housing surveys about homeownership than we ever had before," Case told CNNMoney. "I think it's because people got hosed. They thought that housing prices will never go down. That's just bull -- you know what."</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>At age 67, Case still rattles off housing data with the kind of enthusiasm that most people use to recite popular song lyrics. <b>For Case, the key metric to watch is housing starts, a measure of new residential home construction.</b></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The housing starts figures have been "unbelievably regular" for 50 years, oscillating between a million a month in not so great times and two million during peak economic times.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>"Every time it's gotten below a million in the past, it's come right back," Case says. Every time except the Great Recession.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>Housing starts fell below 500,000 for several months in 2009, an unthinkable level. And they have been slow to rebound. They finally eked above the million mark in April, but it's unclear to Case if this is a true turning point.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>He calls the real estate market "segmented" these days. It's no longer a guarantee that housing prices will go up across the country. That only happens in some places at some times.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The demand side of the equation will also be key. Will millennials actually purchase homes? Will foreign buyers keep coming?</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>"The Chinese are coming over here with millions and billions of dollars, and they want to spend it on assets that tend to hold their value. And at least the theory is that housing does. But it is far from what it was in 2004," Case notes.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The advice Case gives to first-time homebuyers is familiar to most. Be sure you can afford the house and don't expect a quick profit.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>"If you're not buying it for the long haul, don't buy because there's a good chance you'll have to sit through some down cycles. But when it goes, it's very nice," he says.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Case has studied housing extensively. But he's not just an academic. He's a homeowner too. He still remembers the house he bought in 1976 for $54,000 and sold years later for $240,000. Another home in the Boston area he purchased for about $375,000 is now worth a million.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>But even Case doesn't always call housing trends correctly, at least in the short-term. He estimates that another property he owns lost close to half its value in the downturn. For now, he's keeping it.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Arguably his best property move, however, is his permanent parking spot at the Boston Federal Reserve -- which is near Fenway Park. He's had it since the late 1980s and uses it when he goes to watch his beloved Boston Red Sox play. </i><a class="story_endoftext" href="http://money.cnn.com/2014/07/07/investing/housing-market-case/index.html?section=money_topstories&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP" style="background: rgb(67, 113, 147); border: 0px; color: #437193; display: inline-block; font-weight: bold; height: 7px; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; width: 7px;"></a></span></div>
CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-5857900881198562632014-07-08T12:23:00.001-06:002014-07-08T12:23:27.929-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>The Housing Market is Faltering #2</b></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Below is another recent article about the faltering housing market. This author points out that the interest in home ownership is being usurped by concerns for having enough money for retirement, not to mention all the other things such as lending standards, etc. One thing I have noticed in the younger generation (mostly millennials) is that they do not consider home ownership as an investment. A very different view from earlier generations.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">The article is in italics and the bold is my emphasis. From <a href="http://www.marketwatch.com/story/many-renters-have-enough-money-to-buy-homes-2014-05-02">Market Watch</a>:</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>For Rebecca Diamond, a marketing manager in Randallstown, Md. who’s getting married this month, buying a home with her new husband would seem like the logical next step.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>But she’s not even considering it.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>“No interest whatsoever. I don’t want the cost and responsibility of one right now,” she says. “Let [the landlord] have all the headaches,” adds Diamond, who rents a three-bedroom condo outside of Baltimore.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>She’s hardly alone. Just 74.4 million American households — less than 65% of the country — owned the homes they lived in during the first quarter of this year, according to a U.S. Census Bureau report this week. That was the lowest level since 1995 and a big drop from 2006, when a peak of 76.5 million households, or 68.9%, were owner-occupied.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>In fact, the National Endowment for Financial Education released a poll this week that showed only 13% of Americans considered home ownership as their “top long term financial goal,” down from 17% in 2011.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>“The American dream has long been associated with the gratification and security of a comfortable home within the picturesque borders of a white-picket fence,” said Ted Beck, president and CEO of the NEFE, which is based in Denver. “However, today the perceived importance of home ownership appears to be waning.”</i></b></span></div>
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<span style="color: blue; font-family: Arial, Helvetica, sans-serif;"><b><i>Instead, according to the poll, a whopping 50% said that their sole long term financial goal was to save enough for retirement, up from 43% three years earlier, even though most financial planners say owning a home is the best way to build wealth that can be tapped once you retire.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Stephen Alberts, a Long & Foster real-estate agent in Williamsburg, Va., who does many of his deals in the coastal retirement community of Virginia Beach, says his business is tougher than ever. “Even I’ve got to pound the ground,” he said. “Buyers just aren’t coming to me anymore.”</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>For him, it’s all about the economy.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>“In most markets they’re worried about the security of their jobs, so they’re reluctant to put roots down and get stability.” Alberts says his market generally bucks the trend since Virginia Beach is a destination for many to spend their golden years. “We are more stable as we have retirees who have already made their money,” echoing NEFE’s poll numbers showing retirement savings is driving consumers.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Still, Albert says first-time home buyers are put off by rising prices and multiple bids. “We also have to do a lot of re-education of our buyers,” he said.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>For realtors too, it’s credit scores being too tight.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>According to the National Association of Realtors, the average accepted credit score on conventional mortgages was around 720. “A credit score that would have gotten you a mortgage before 2008 is now below the average rejection score,” said Walt Molony of the National Association of Realtors.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>“Things are improving, but at a snail’s pace,” he said. The NAR points to its “Housing Affordability Index,” which shows that if a U.S. family was earning the median family income in 2013 of $63,623, it would have 175% of the necessary income to buy a median single family home priced at $197,400.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>That equates to about 20 million households able to purchase a home, but choosing not to. And Molony points the finger at the banks more than anything else. “The problem is overly restrictive mortgage lending standards, relying on arbitrarily high credit scores,” he said.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>That’s not necessarily true, said Darren Ferlisi, a loan officer with Integrity Home Mortgage Corp. in Frederick, Md., who said FICO scores of 640 and in some cases as low as 620 will qualify for a mortgage today. “If anything, we have more flexibility than we had two years ago,” he said.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Still, as a result of the Great Recession, many people who otherwise had 9-to-5 jobs now are freelancers or self employed, which makes proving two years’ worth of income difficult, especially when those first two years were poor ones as their businesses were just getting off the ground, says Greg McBride, chief financial analyst at Bankrate.com.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>“The problem is a lot of those people don’t have $20,000 or $30,000 to make a down payment, and if they’ve got two years of tax returns, in this economy, they might be losses,” McBride said. “A loss for tax purposes is still a loss when it comes to qualifying for a home mortgage.”</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>McBride says he sees the smaller number of Americans making a home their ultimate financial goal as a good thing. “People compromise their financial goals in pursuit of home ownership and they aren’t putting enough into their retirement or their 401(k) and they end up house rich but cash poor,” he said.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Once more Americans feel financially secure about their retirement, they’ll return to the housing market, he said. “They’ve rightly felt burned by the housing bust, but five to fifteen years from now, they’ll be back.” <span class="endsquare" style="background-color: #b4c9ca; border: 0px; display: inline-block; font-weight: inherit; height: 8px; margin: 0px 0px 0px 3px; outline: 0px; padding: 0px; vertical-align: middle; width: 8px;"></span></i></span></div>
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CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-14974042267378226242014-07-07T04:18:00.000-06:002014-07-07T04:18:02.606-06:00<div style="background-color: white; box-sizing: border-box; line-height: 1.3125em; margin-bottom: 28px;">
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>The Housing Market is Faltering</b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">There are so many problems with the US housing market that I cannot even begin to discuss them. But, the simplest way to understand the real estate market is that the US has the lowest mortgage rates since the Eisenhower Administration and the housing market is stagnating. We have a problem. The article below outlines some of the issues in the current real estate market. Also please remember that real estate markets are local. What applies in Oakland, CA may not apply in Oakland, MI.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">From<a href="http://www.bloomberg.com/news/2014-06-20/housing-falters-as-forecasters-see-u-s-sales-dropping.html"> Bloomberg</a>:</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The two-year-old U.S. housing recovery is faltering.</i></span></div>
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<span style="line-height: 1.3125em;"><b><span style="font-family: Arial, Helvetica, sans-serif;"><i>The Mortgage Bankers Association yesterday lowered its forecast for combined new and existing home sales in 2014 to 5.28 million -- a decline of 4.1 percent that would be the first annual drop in four years. The group also cut its prediction on mortgage lending volume for purchases to $595 billion, an 8.7 percent decrease and the first retreat in three years.</i></span></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Bullish forecasts in early 2014 from MBA, Fannie Mae, and Freddie Mac have been sideswiped by rising home prices and an economy that isn’t producing higher paying jobs. The share of Americans who said they planned to buy a home in the next six months plunged to 4.9 percent last month from 7.4 percent at the end of 2013, the highest in records going back to 1964, according to the Conference Board, a research firm in New York.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>“The big housing rally wiped itself out because prices increased too quickly for buyers to keep up,” said Richard Hastings, a consumer strategist at Global Hunter Securities LLC in Charlette, NC, who predicted the slowdown eight months ago. “The pool of eligible new buyers is collapsing” because of stagnant incomes and lack of credit, he said.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The best-qualified homebuyers jumped into the market last year to grab near-record low mortgage rates that averaged about 3.5 percent after delaying their moving plans during the housing slump, said Nariman Behravesh, chief economist of IHS Inc., a research firm based in Englewood, Colorado.</i></span></div>
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<span style="font-weight: normal;"><span style="font-size: small;"><i><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">The median price</span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;"> </span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">of an existing home gained 11.5 percent last year, second only to 2005’s 12 percent increase, the highest on record, according to the National Association of Realtors. This year, price appreciation probably will slow to 5.6 percent, NAR said. U.S. 30-year fixed mortgage rates </span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">probably will average 4.5 percent, up from 4 percent last year, according to the MBA forecast.</span></i></span></span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>As prices climb, the ability of Americans with stagnant wages to buy homes wanes.</i></span></div>
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<b><i><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">The median U.S. household income</span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;"> </span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">rose less than 1 percent in 2013, according to data from Sentier Research LLC in Annapolis, Maryland</span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">. In April, the median income was $52,959. When adjusted for inflation, that’s almost 6 percent lower than in June 2009, which marked the beginning of the economic recovery, said Gordon Green, a Sentier partner who formerly directed the Census Bureau office that compiles wage statistics.</span></i></b></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>“Even though we’re technically in a recovery, household income is lower now than it was in the recession,” Green said. “It makes it a lot harder to buy a house.”</i></span></div>
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<span style="font-weight: normal;"><span style="font-size: small;"><i><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">Three major housing forecasters -- MBA and government-run mortgage financiers Freddie Mac </span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">and Fannie Mae -- began the year projecting an average home-sale gain of 10 percent in 2014.</span></i></span></span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>In May, after monthly reductions in their estimates, Fannie Mae and MBA for the first time projected an annual decline, amounting to less than one percent.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>Freddie Mac this week lowered its 2014 home sales forecast to 5.4 million -- a 1.8 percent drop from 2013. The company also cut its prediction on mortgage lending volume for purchases to about $751 billion.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>While home purchase applications have picked up recently with the traditional home buying season now underway, they’re still 13 percent below last year</b>, Freddie Mac chief economist Frank Nothaft and deputy chief economist Leonard Kiefer said in the forecast.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>“For this reason, we’re lowering our overall homes sales forecast” for 2014, the economists said.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Next year, new and existing home sales probably will increase to 5.8 million, according to the forecast.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The pullback by the largest investors, who raised about $20 billion to purchase as many as 200,000 properties in the past two years, has also cooled the market.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: small; font-weight: normal;"><i><span style="line-height: 1.3125em;">With home prices up 31 percent since a post-bubble low in January 2012 and bargains harder to find, Blackstone Group LP has reduced its pace of buying by 70 percent since last year. The firm is focusing its acquisitions for rentals on five markets --</span><span style="line-height: 1.3125em;"> Seattle</span><span style="line-height: 1.3125em;">, Atlanta and the Florida cities of Tampa, Orlando and Miami, Jonathan Gray</span><span style="line-height: 1.3125em;">, the firm’s global head of real estate, said in March.</span></i></span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>As signs of a housing slowdown appeared early this year, economists initially blamed severe weather. The winter was the coldest in four years and some U.S. cities had snow accumulations at near-record levels, according to Commodity Weather Group LLC in Bethesda, Maryland.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>“Winter weather explanations are valid, but they’re not endless,” said Hastings of Global Hunter. “When prices go up too much in an environment where families can’t pay them, the rally cancels itself out.”</i></span><br />
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<i style="font-family: Arial, Helvetica, sans-serif; letter-spacing: -0.03em; line-height: 1.3125em;">The economy, which contracted 1 percent in the first quarter, is mostly generating lower-paying jobs.</i></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>In May, payrolls increased by more than 200,000 for a fourth consecutive month, the first time that’s happened since early 2000, according to the Labor Department. The number of workers in May rose to 138.5 million, surpassing the level in 2008 before the financial crisis wiped out 8.7 million jobs.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>The gain was led by low-paying positions such as nursing home orderlies and temporary office jobs, both at records, according to government data.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Even with job increases, “a broader assessment of indicators suggests that underutilization in the labor market remains significant,” Federal Reserve Chair Janet Yellen said at a June 18 press conference in Washington following a meeting of the FOMC.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>High-wage sectors haven’t rebounded. Compared with 2008, there were 1.6 million fewer people working in manufacturing in May and 340,000 fewer people working in finance, according to government data.</i></span></div>
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<span style="font-weight: normal;"><span style="font-size: small;"><i><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">“The real shocker is the</span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;"> </span><a class="web_ticker" density="full" href="http://www.bloomberg.com/quote/USDUMEAN:IND" style="box-sizing: border-box; color: #003399; cursor: pointer; font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em; outline: none; text-decoration: none;" title="Get Quote">labor</a><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;"> </span><span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.3125em;">market,” said Behravesh of IHS. “We’re barely back up to where we were before the recession began. A lot of the people without good jobs are the ones who should be buying homes right now.”</span></i></span></span></h2>
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<span style="color: blue; font-family: Arial, Helvetica, sans-serif;"><b><i>Even with mortgage rates that have averaged 4.3 percent this year, housing affordability has eroded. In the first quarter, 66 percent of new and existing homes were affordable to families earning the national median income, down from 74 percent a year earlier, according to the National Association of Home Builders in Washington.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Economic grow this year would create additional jobs and allow more people to buy homes. The pace of growth will exceed 3 percent in the final three quarters of the year, according to economists surveyed by Bloomberg.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The FHFA, which oversees Freddie Mac and Fannie Mae, in May announced new rules to encourage lenders to relax credit standards. The rules are designed to reduce the risk that lenders will have to buy back soured mortgages due to underwriting errors -- an issue that has kept standards tight.</i></span></div>
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<span style="line-height: 23.100000381469727px;"><span style="font-family: Arial, Helvetica, sans-serif; font-size: small;"><i>The average credit score for borrowers in May who bought homes was 755 on a scale of 300 to 850, according to a report this week from Ellie Mae, a loan processor in Pleasanton, California. That compared with 756 in December, the last time it was higher.</i></span></span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>A decade ago before the housing bubble, the average score was about 715, said Mark Zandi, chief economist at Moody’s Analytics Inc. in West Chester, PA.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>“Making credit more available is vital to the housing recovery, which is vital to the economy,” said Zandi.</i></span></div>
CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-15097743356881449712014-07-06T04:47:00.004-06:002014-07-06T04:47:41.004-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>How the US Ranks in Happiness</b></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">From <a href="http://www.happycounts.org/">Happy Counts:</a></span><br />
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<img height="478" src="http://www.happycounts.org/uploads/2/4/4/6/24468989/4348331_orig.png?201" width="640" />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-53804675280320117672014-07-06T04:41:00.000-06:002014-07-06T04:51:47.910-06:00<h2 style="background: rgb(255, 255, 255); border: 0px; line-height: 28px; margin: 0px; outline: 0px; padding: 0px 0px 20px; vertical-align: baseline;">
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;">Which Should We Measure GDP or Happiness?</span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: small;">It is Sunday and it is time to contemplate the world in which we live. The article below is about "what is happiness", how should it be measured, how should be compared to GDP, etc. All good questions.</span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: small;">The article is in italics and the bold is my emphasis. From <a href="http://money.cnn.com/2014/06/30/news/economy/gross-national-happiness/index.html?">CNN Money:</a></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: small;"><i>The drafters of the Declaration of Independence didn't really define "Happiness" when they cited the pursuit of it as an inalienable right.</i></span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>But in recent years, there's been a quest to define and measure it, especially in the context of a prosperous economy.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>That's because economic growth as measured by gross domestic product doesn't really tell us much about citizens' general well-being.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>"For example, traffic jams may increase GDP as a result of the increased use of gasoline, but obviously not the quality of life," according to a report by an international commission chaired by Nobel Prize-winning economist Joseph Stiglitz.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>The assumption is that the more economic growth the better.</b> Legislators are forever debating the merits of a measure on the basis of whether it would create jobs and boost GDP.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>But rarely do you hear lawmakers debate whether a measure will boost or detract from citizens' well-being, of which income is just on part.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>Take North Dakota. Its economy has doubled in the past 25 years thanks to a massive oil boom. Incomes have soared, but so have prices, traffic, crime, and housing shortages.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Well-being, of course, relies on many factors -- from health and education, to environment and culture, to the quality of governance, your community and how you use your time.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>There's a growing international chorus that thinks this kind of well-being should be measured and used as a guide when formulating policy and tracking social progress.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><span style="color: #151515;"><span style="line-height: 26px;"><i style="font-weight: bold;">The tiny nation of Bhutan pioneered the effort, adopting a "gross national happiness index" decades ago. </i>(BTW, Bhutan is in the Himalayas north of Bangladesh and east of Nepal. I had to look it up.) </span></span></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The rest of the world has been slow to catch on. But there have been nascent efforts in recent years to address the issue.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>In 2011, the U.N. General Assembly passed a resolution encouraging countries to measure their citizens' happiness and use that measure to help guide public policies.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>More recently, the Organization for Economic Cooperation and Development (OECD) has created guidelines for nations that want to measure well-being.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>In the United States, four states -- Maryland, Vermont, Oregon and Colorado -- have developed a "genuine progress indicator," according to Demos, a left-leaning think tank.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The GPI seeks to quantify in a consistent way the cost and value of factors not measured by GDP.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>For instance, Maryland -- which was the first state to adopt a GPI -- is seeking to assess, among other things, the "environmental and social costs of what we buy, [and] the quality-of-life impacts of how we live."</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Some cities and towns, meanwhile, have started their own "happiness initiatives," distributing gross happiness surveys to residents to give local policymakers a sense of the level of their constituents satisfaction in different areas.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>It doesn't appear that there will be any kind of universal agreement to measure citizens' happiness and well-being anytime soon.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>But proponents -- such as the Sustainable Development Solutions Network (SDSN) -- are trying to make the economic case to governments as to why they should.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>"Happy people live longer, are more productive, earn more, and are also better citizens. Well-being should be developed both for its own sake and for its side-effects," SDSN noted in its 2013 World Happiness Report.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Other sources on this subject:</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Joseph Stiglitz analysis:</span></div>
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<span style="color: #151515; font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 26px;">http://www.stiglitz-sen-fitoussi.fr/documents/rapport_anglais.pdf</span></span></div>
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<span style="color: #151515; font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 26px;">Bhutan guide to Gross National Happiness Index:</span></span></div>
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<span style="color: #151515; font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 26px;">http://www.grossnationalhappiness.com/wp-content/uploads/2012/04/Short-GNH-Index-edited.pdf</span></span></div>
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<span style="color: #151515; font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 26px;">Want to take the Gross National Happiness Index? Well worth the time. I need to become happier.</span></span></div>
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<span style="color: #151515; font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 26px;">http://www.happycounts.org/</span></span><br />
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<span style="color: #151515; font-family: Arial, Helvetica, sans-serif;"><span style="line-height: 26px;">The World Happiness Report:</span></span><br />
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<span style="color: #151515; font-family: Arial, Helvetica, sans-serif; line-height: 26px;">http://unsdsn.org/wp-content/uploads/2014/02/WorldHappinessReport2013_online.pdf</span></div>
CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-82261005998028504802014-06-22T10:22:00.001-06:002014-06-22T10:22:19.999-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Who Pays the Taxes?</b></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">I am always fascinated by who pays the taxes in the US. I am fascinated because there is a great deal of 100% fact-free discussion about a subject in the mainstream media and among the politicians in spite of fact that there is a great deal of data available on the subject. So let's skip all the discussion and go right to the data.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">By the way, do not infer any point of view on my part due the charts or their sources. I just like the charts.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">From H<a href="http://www.heritage.org/federalbudget/income-tax-receipts">eritage Org:.</a></span><br />
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<span style="background-color: white; color: #333333; line-height: 16px;"><i><span style="font-family: Arial, Helvetica, sans-serif;">Despite the top individual tax rate fluctuating between 91 percent and 28 percent over the past 50 years, total individual receipts have remained fairly stable. The top rate was last increased in 2013 and is now at 39.6 percent.</span></i></span><br />
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<img alt="Increasing Tax Rates Does Not Necessarily Lead to Higher Income Tax Receipts" src="http://www.heritage.org/federalbudget/charts/2014/income-tax-receipts-680.jpg" /><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">A second graph I found interesting from <a href="http://dailysignal.com/2014/04/15/2014-tax-day-chart-pays/">The Daily Signal</a>:</span><br />
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<span style="background-color: white; color: #3c3c3c; line-height: 26px;"><i><span style="font-family: Arial, Helvetica, sans-serif;">Despite calls for more taxes on the rich, the Heritage chart shown above reveals that the recent tax increases disproportionately affect the working wealthy. The top 10 percent of all income earners paid 71 percent of federal income taxes in 2010, yet they earned 45 percent of all federal income. Compare that to the bottom 50 percent of earners, who earn 12 percent of income yet pay only 2 percent of federal income taxes.</span></i></span><br />
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<img alt="top10-percent-income-earners-600" src="http://blog.heritage.org/wp-content/uploads/top10-percent-income-earners-6005.jpg" />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-55122577092585784532014-06-21T18:17:00.003-06:002014-06-21T18:17:49.111-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Should You Be Buying into the Rally in Gold Prices?</b></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">In recent weeks the price of gold has move up nearly 6%. Is this a harbinger of more gains in the future. I do not think so. Precious metal prices are driven by uncertainty and/or inflation. Maybe gold is up recently due in the situation in the Ukraine or in Iraq, but inflation fears are probably misguided. When you put all those things together I am not seeing any strong drivers for higher gold prices.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span><span style="font-family: Arial, Helvetica, sans-serif;">Below is an article from <a href="http://money.cnn.com/2014/06/20/investing/gold-prices/index.html">CNN Money.com</a> concerning the recent run-up in the price of gold.</span><br />
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<i style="color: #333333; font-family: Lato, arial, sans-serif; font-size: 21px; line-height: 28px;"><span style="color: #151515; font-size: 16px; line-height: 26px;">Gold </span><span style="color: #151515; font-size: 16px; line-height: 26px;">shot up more than 3% on Thursday, the biggest one day gain since September 2013. Prices were up slightly again Friday, with futures trading at about $1,316 an ounce.</span></i><br />
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<b><i>So far this month, gold prices have risen nearly 6%.</i></b></div>
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<b><i>While gold bugs have regained some swagger, analysts don't expect the metal to break out of the funk it's been in for the past year.</i></b></div>
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<b><i>The recent jump in gold prices comes as turmoil in Iraq has put some investors on edge. Gold and other so-called "hard" assets often find favor in times of political and economic uncertainty.</i></b></div>
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<i>Meanwhile, Russian forces have been massing on the eastern border with Ukraine, raising concerns about an escalation of tensions in an already volatile region.</i></div>
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<i>"There are a lot of reasons investors should own gold," said Donald Doyle, chief executive of Blanchard & Co., a precious metals dealer in New Orleans. The current geopolitical uncertainty "illustrates the metal's qualities as insurance when governments clash."</i></div>
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<b><i>Doyle added that investors were also spooked by comments from Janet Yellen on Wednesday. Yellen reiterated that the central bank is unlikely to hike interest rates any time soon.</i></b></div>
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<b><i>Some investors see gold as an alternative to the U.S. dollar, which they believe is being undermined by the Fed's policies.</i></b></div>
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<i>But other analysts say Thursday's rally was driven by technical factors, such as "short covering."</i></div>
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<i>The price of gold rose above its 50-day moving average early Thursday, which triggered a wave of buy orders and caused investors who were betting against the metal to unwind their positions, said Carlos Sanchez, a precious metals analyst at the CPM Group.</i></div>
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<i>Investors have been "short" gold for at least a year, meaning they are positioned to benefit from falling prices. Analysts say that's not likely to change anytime soon.</i></div>
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<i>The summer months are historically very slow in the gold market. In addition, demand from China, which has been a big consumer of physical gold, is slowing down.</i></div>
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<b><i>While geopolitical concerns could help support the metal in the short term, "I still think gold is headed lower," said Sanchez.</i></b></div>
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<i>That's largely because the stock market<a href="http://money.cnn.com/2014/06/19/investing/stocks-markets/index.html?iid=EL" style="background: transparent; border: 0px; color: #437193; font-weight: bold; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;"> </a>continues to hit record highs.</i></div>
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<b><i>And despite worries about Ukraine and Iraq, investors don't appear to be that scared. The <span style="background: transparent; border: 0px; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">VIX</span>, a key measure of volatility, is at its lowest point since 2007. And the CNNMoney Fear & Greed Index, which looks at the VIX and six other measures of investor sentiment, is showing signs of Extreme Greed.</i></b></div>
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<i>Investors fled the gold market last year as they chased better returns in more risky assets. Gold prices fell nearly 30% in 2013. It was the biggest decline since 1981 and the first year-over-year drop since 2000.</i></div>
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<i>Gold hit an all-time high near $1,900 an ounce in 2011, as investors worried about a global economic collapse. But the metal has fallen out of favor with stocks in the midst of a five year-old bull market.</i></div>
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<b><i>"The fact that the equity market continues to be strong doesn't give traders much incentive to get into gold," said Rob Kurzatkowski, senior commodities analyst at optionsXpress.</i></b></div>
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<i>Gold will probably continue to trade in the range it has been in for most of the year, between $1,200 and $1,300 an ounce, Kurzatkowski added.</i></div>
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<b><i>"Gold may just continue to grind here," he said. "There are too many factors underpinning the market for gold to collapse, but there's not enough to spark the metal higher either." <a class="story_endoftext" href="http://money.cnn.com/2014/06/20/investing/gold-prices/index.html?iid=EL#TOP" style="background: rgb(67, 113, 147); border: 0px; color: #437193; display: inline-block; height: 7px; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline; width: 7px;"></a></i></b></div>
<br />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-47018616206676416992014-06-18T09:39:00.003-06:002014-06-18T09:39:58.168-06:00<b><span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;">The Stock Market- "It is Not Different This Time" - "It is the Same This Time"</span></b><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Below is an article from Steve Hassett at <a href="http://seekingalpha.com/article/2274183-s-and-p-fairly-valued-because-its-the-same-this-time?uprof=45">Seeking Alpha</a>. It is a short description of Steve's view of the stock market and the fact that currently "nothing is new it, it is the same old stuff". Steve has a relatively simple model of the stock market the Risk Premium Factor and he has fairly good luck predicting future price of the S&P 500. </span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">By the way, for those of you who do not peruse Seeking Alpha from time to time you are missing an excellent resource on investing, finance, and economics. Is everything you see on the site good - no, of course not. But there is a lot of really good analysis on this site.</span><br />
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<span itemprop="name" style="border: 0px; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;"><span style="font-family: Arial, Helvetica, sans-serif;"><i>S&P Fairly Valued Because 'It's The Same This Time'</i></span></span></h1>
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<i>Summary</i></h2>
<ul style="border: 0px; font-family: inherit; line-height: 23.200000762939453px; list-style-image: initial; list-style-position: initial; margin: 20px 0px; outline: 0px; padding: 0px 0px 0px 10px; vertical-align: baseline;">
<li style="border: 0px; font-family: inherit; line-height: 27px; list-style-type: disc; margin: 0px 0px 12px; outline: 0px; padding: 0px; vertical-align: baseline;"><i><b>Room to grow. Despite the exceeding the post-war average for economic recoveries, U.S. employment has only just matched the previous peak.</b></i></li>
<li style="border: 0px; font-family: inherit; line-height: 27px; list-style-type: disc; margin: 0px 0px 12px; outline: 0px; padding: 0px; vertical-align: baseline;"><i><b>Record highs are not rare and not indicative of a bubble. Since 1960, the S&P 500 Index has hit a new closing high over 800 times.</b></i></li>
<li style="border: 0px; font-family: inherit; line-height: 27px; list-style-type: disc; margin: 0px 0px 12px; outline: 0px; padding: 0px; vertical-align: baseline;"><i><b>It's not different this time. The market has been valued based on the same predictable factors since at least 1960.</b></i></li>
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<i>Some argue that we are in an unusually strong or long recovery for the stock market and the overall economy.</i></div>
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<i>That's true. But it's not sign that we are due for a correction, rather a result of how much the market fell and how deep the recession. The chart below shows U.S. Non-Farm Employment since 1939 along with a trend line.</i></div>
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<img src="http://static.cdn-seekingalpha.com/uploads/2014/6/725947_14030340041288_rId5_thumb.jpg" /></div>
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<i>The U.S. economy has only just recovered to its previous peak and continues to be well below trend. We have room to grow. The remarkable fact is not that we are 5 ½ years into recovery, the post-war average, but that it's taken 5 ½ years to recover.</i></div>
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<i>We can see a similar story in the stock market. Even though the market has more than doubled, it continues to be fairly valued based on historical factors.</i></div>
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<i>In the introduction of my book, "The Risk Premium Factor," I say:</i></div>
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<i>"The notion that the market is a mysterious arbiter of value, when, in fact, it is easy to understand and almost reptilian in response to readily observable factors. Reptiles respond in very predictable and instinctive ways using their small brains. Surprisingly, so does the market, and it's all linked to some deep-rooted psychological behavior called <span style="border: 0px; font-family: inherit; font-weight: inherit; margin: 0px; outline: 0px; overflow: visible; padding: 0px; vertical-align: baseline; word-wrap: break-word;">Loss Aversion</span> uncovered by Daniel Kahneman and Amos Tversky in the late 1970s (Kahneman won the Nobel Prize). This book exposes the market's small brain and introduces a very simple (small-brain) model that shows that the market responds to just three factors: earnings, long-term growth, and interest rates."</i></div>
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<i><b>The Risk Premium Factor Model exposes the simplicity by showing that market valuation can be explained by just two factors: earnings and interest rates.</b></i></div>
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<i>The chart below compares actual to predicted levels of the S&P 500 Index (SPY) since 1986: <span style="border: 0px; font-family: inherit; font-weight: inherit; margin: 0px; outline: 0px; overflow: visible; padding: 0px; vertical-align: baseline; word-wrap: break-word;">(click to enlarge)</span></i></div>
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<em style="border: 0px; font-family: inherit; font-weight: inherit; margin: 0px; outline: 0px; overflow: visible; padding: 0px; vertical-align: baseline; word-wrap: break-word;"><img src="http://static.cdn-seekingalpha.com/uploads/2014/6/725947_14030340041288_rId7_thumb.jpg" /></em></div>
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<i><b>The S&P 500 closed at 1,937 on June 16, 2014. While this is near a record closing high, record highs are not rare. The S&P 500 has closed at a record high over 800 times since 1960 - that's about once every 16 trading days. Bubbles are rare, record highs are expected.</b></i></div>
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<i><span style="color: #333333;">The predicted value is based on The Risk Premium Factor Model (RPF for short). It is used to determine the intrinsic value of the market to help identify bubbles or buying opportunities based on earnings and interest rates. (For background on the model see my articles </span><span style="color: black;"><a href="http://seekingalpha.com/article/227331-a-simple-and-powerful-model-suggests-the-s-and-p-500-is-greatly-underpriced" sasource="froma" style="border: 0px; font-family: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;"><span style="color: black;">A simple And Powerful Model Suggests the S&P 500 Is Greatly Underpriced</span></a> </span><span style="color: #333333;">from September 2010 and </span><a href="http://seekingalpha.com/article/2058383-absurd-bubble-talk" sasource="froma" style="border: 0px; font-family: inherit; font-weight: inherit; margin: 0px; outline: 0px; padding: 0px; text-decoration: none; vertical-align: baseline;"><span style="color: black;">Absurd Bubble Talk</span></a><span style="color: #333333;"> from February 28, 2014 on Seeking Alpha).</span></i></div>
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<i>Today the model shows that the market is slightly overvalued based on trailing earnings and an estimated 4.5% 10-year yield (see the articles above for an explanation of the 4.5%). Alternatively, the model shows implied yield on the 10-year is about 4.3%.</i></div>
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<i>This also means that higher long-term rates are already factored in. Of course they are. From a valuation perspective, everyone knows that at some point soon the Fed will cease its bond buying program and long-term rates will float freely. Investors price stocks today based on future expectations. They know rates will rise (but not exactly when) and have priced stocks priced accordingly.</i></div>
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<i>What does this mean for equities long term?</i></h2>
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<i>In the long-term investors can expect returns consistent with the cost of equity - about 11%. Using the S&P's forward estimates for operating earnings and assuming long-term rates stay at 4.5% or less, the RPF models show upside for year-ends 2014 and 2015.</i></div>
<table align="center" border="1" cellpadding="0" class="designed_table" style="border-collapse: collapse; border-spacing: 0px; border: 1px solid rgb(221, 221, 221); color: #333333; font-family: verdana; font-size: 16px; line-height: 20px; margin: 16px 0px; min-width: 500px;"><colgroup><col></col><col></col><col></col><col></col></colgroup><tbody style="font-family: inherit; font-style: inherit; font-weight: inherit;">
<tr style="font-family: inherit; font-style: inherit; font-weight: inherit;"><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"></td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
<strong style="border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">S&P 500</strong><br />
<strong style="border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Operating Earnings</strong></div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
<strong style="border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Index Actual</strong></div>
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<strong style="border: 0px; font-family: inherit; font-style: inherit; margin: 0px; outline: 0px; padding: 0px; vertical-align: baseline;">Index Predicted</strong></div>
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<tr style="font-family: inherit; font-style: inherit; font-weight: inherit;"><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
16-Jun-14</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
111.92</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
1,937</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
1,847</div>
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<tr style="font-family: inherit; font-style: inherit; font-weight: inherit;"><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
31-Dec-14</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
119.82</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
Estimated</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
1,977</div>
</td></tr>
<tr style="font-family: inherit; font-style: inherit; font-weight: inherit;"><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
31-Dec-15</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
137.38</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
Estimated</div>
</td><td style="border: 1px solid rgb(221, 221, 221); font-family: inherit; font-size: 14px; font-style: inherit; line-height: 21px; padding: 5px 7px;"><div style="border: 0px; font-family: inherit; font-style: inherit; font-weight: inherit; outline: 0px; padding: 0px; vertical-align: baseline;">
2,267</div>
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<span style="background-color: white;"><i><b>The market is currently valued the same way it has been for at least the past 50 years. It's the same this time.</b></i><br /></span></div>
CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-49274559296296829292014-06-17T20:24:00.001-06:002014-06-17T20:28:55.398-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Long Term Jobless, Although Declining is Still High</b></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">The brief article from <a href="http://blogs.marketwatch.com/capitolreport/2014/05/02/long-term-jobless-still-more-than-one-third-of-unemployed/">Market Watch</a> basically states that although the long-term unemployed (27 weeks or more) are declining they still make up just over 1/3 (35.3% in April and 34.6% in May) of the unemployed. Just in case you were wondering why everyone is talking about a recovery, but GDP growth seems so anemic. Without a jobs recovery strong economic growth is tough.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Other sources of job information:</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;"><a href="http://www.bls.gov/news.release/empsit.t12.htm">http://www.bls.gov/news.release/empsit.t12.htm</a></span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;"><a href="http://www.bls.gov/news.release/pdf/empsit.pdf">http://www.bls.gov/news.release/pdf/empsit.pdf</a></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;"><a href="http://www.marketwatch.com/story/what-yellen-sees-when-she-looks-at-the-jobs-report-2014-04-04">What Janet Yellen sees in her employment dashboard.</a></span><br />
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<img src="http://s.wsj.net/public/resources/MWimages/MW-CB706_LongJo_MG_20140502111607.jpg" height="447" width="640" /><br />
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>After a flurry of ecstatic headlines over Friday's Job report, here’s one sobering statistic: the long-term jobless continue to make up more than one-third of total unemployment.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>People out of work for at least 27 weeks lose hope and job-ready skills. Their families face growing financial distress. And employers often look past their resumes.</i></span></div>
<div style="background-color: white; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px;">
<span style="font-family: Arial, Helvetica, sans-serif;"><i>The 3.45 MM jobless workers in April who had been looking for a new spot for at least 27 weeks made up about 35.3% of total unemployed, a “disturbingly high” rate, said Gregory Daco, lead U.S. economist at Oxford Economics.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>And while that share is down from 37.4% a year ago, it’s more than twice a rate of 17.4% when the recession started at the end of 2007, according to the U.S. Labor Department data.</i></b></span></div>
<div style="background-color: white; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px;">
<span style="font-family: Arial, Helvetica, sans-serif;"><i><culink class="culinks" href="http://undefined/en/topic/Jason Furman" lang="en" style="border-bottom-color: rgb(95, 220, 187) !important; border-bottom-style: dashed; border-bottom-width: 1px; cursor: help; display: inline !important; float: none !important; margin: 0px !important; padding: 0px !important;">Jason Furman</culink>, chairman of the White House’s <culink class="culinks" href="http://undefined/en/topic/Council of Economic Advisers" lang="en" style="border-bottom-color: rgb(95, 220, 187) !important; border-bottom-style: dashed; border-bottom-width: 1px; cursor: help; display: inline !important; float: none !important; margin: 0px !important; padding: 0px !important;">Council of Economic Advisers</culink>, pointed out after the data’s release that the long-term unemployed remain a “pressing issue,” and urged Congress to reinstate extended unemployment-insurance benefits. . . . </i></span></div>
<div style="background-color: white; line-height: 1.5em; margin-bottom: 1em; margin-left: 8px; margin-right: 8px; padding: 0px;">
<span style="font-family: Arial, Helvetica, sans-serif;"><i>. . . . “Fed Chair Yellen’s dashboard still suggests there is a substantial amount of slack in the labor market. We think the Fed has ample room to pursue accommodative policy and expect patience on rates,” <culink class="culinks" href="http://undefined/en/topic/BNP Paribas" lang="en" style="border-bottom-color: rgb(95, 220, 187) !important; border-bottom-style: dashed; border-bottom-width: 1px; cursor: help; display: inline !important; float: none !important; margin: 0px !important; padding: 0px !important;">BNP Paribas</culink> analysts wrote in a research note.</i></span></div>
CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-35861726350782181102014-06-13T03:55:00.000-06:002014-06-13T03:55:14.548-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Where the Jobs Are!</b></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Below is a short, easy to read, diagram of where the jobs are and are not. Of interest to me are the unemployment rates for the 10 worst majors and the unemployment rates for the recent grads in these majors. </span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">from <a href="http://blogs.hrblock.com/wp-content/uploads/2014/06/College_Grad_960.jpg">H&R Block</a>:</span><br />
<br />
<img src="http://blogs.hrblock.com/wp-content/uploads/2014/06/College_Grad_960.jpg" />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-72505378916112656492014-06-12T13:18:00.002-06:002014-06-12T13:18:52.114-06:00<div id="yui_3_16_0_1_1402012990450_1853" style="background-color: white; line-height: 24.000001907348633px; margin-bottom: 1.1em;">
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Where Did the Middle Class Jobs Go?</b></span><br />
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b><br /></b></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Below is a very interesting article originally completed by the Federal Reserve Bank of Dallas indicating where the middle class jobs are going. Basically, most of middle class jobs that required workers to follow well defined procedures are being replaced by computers. The issue of jobs being shipped overseas in a relatively smaller issue. </span><br />
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The article is below. The emphasis is mine. From <a href="http://finance.yahoo.com/blogs/daily-ticker/here-s-where-all-those-middle-class-jobs-went-113102720.html">Yahoo</a>:</div>
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The original article is from the <a href="http://www.dallasfed.org/assets/documents/research/eclett/2014/el1405.pdf">Federal Reserve Bank of Dallas</a></div>
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<i>If your job as a bank teller, retail clerk or travel agent disappeared, would you be more likely to move up or down the employment chain?</i></div>
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<i>The unfortunate answer is down, which helps explain why the loss of many middle-class jobs is having such a punishing effect on the U.S. economy and the fortunes of the typical family.</i></div>
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<i>A new study by <a data-rapid_p="10" href="http://www.dallasfed.org/assets/documents/research/eclett/2014/el1405.pdf" id="yui_3_16_0_1_1402012990450_1833" style="color: #324fe1; text-decoration: none;" target="_blank">the Federal Reserve Bank of Dallas</a> details the types of jobs that have been disappearing and validates the job stress many workers have been feeling.<b> Between 2001 and 2011, both low-skill and high-skill jobs rose as a percentage of the total labor market, while the percentage of middle-skill jobs fell by about 10%. Middle-skills jobs have been in decline for about 20 years, according to the study, although the early part of the trend, in the 1990s, was barely noticeable. During the past 10 years, however, the loss of middle-skill jobs has intensified to the point that it now threatens the prosperity of the entire middle class.</b></i></div>
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<i>This is the “barbell economy” some analysts have been talking about, which is characterized by swelling employment at the bottom and top of the income ladder, while the middle gets hollowed out.</i></div>
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<b><i>Many workers fault globalization for the decline of decent-paying middle-class jobs, since big companies have moved many manufacturing plants and other types of operations overseas, where labor is cheaper. But the Dallas Fed sees that as a small factor in the loss of middle-skill jobs. A much bigger factor is the automation that has come with the digital revolution, since computers and other machines can now do many of the jobs once performed by humans. ATMs and smartphones, for example, now do much of what bank tellers once did. Travel sites such as Travelocity and Kayak serve as virtual travel agents — at no charge. There are no clerks when you check out at an e-commerce site such as Amazon or eBay.</i></b></div>
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<strong><i>The upside of the "nonroutine" job</i></strong></div>
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<b><i>Some low- and middle-skill jobs are “nonroutine,” as the Dallas Fed calls them, which means they involve hands-on work, human interaction or thinking on your feet, and therefore can’t be done effectively by a machine (not yet, anyway). Think sanitation, construction, childcare, roving security, healthcare and middle managers who make operational and personnel decisions. At the top of the chain — where the 1% reside — there’s growing demand for highly skilled professionals who must do a lot of qualitative problem-solving that requires global know-how and other rare talents.</i></b></div>
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<i>It’s no secret that middle-class jobs have been evaporating, but this latest analysis goes a step further by drawing a distinction between routine jobs, which are threatened, and nonroutine jobs, which are safer, even if they’re at the low end of the skill ladder. The study defines routine jobs as those requiring “the ability to follow precise, well-understood procedures, which can, in principle, be carried out by a computer. ” Routine jobs can be blue-collar positions such as an assembly-line worker (increasingly being replaced by robots) or white-collar positions such as bookkeeper or insurance underwriter. Since 1981, routine jobs have dropped from 58% of the workforce to 44%.</i></div>
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<i><b>Employers shed the most jobs during recessions, which provide an opportunity to reorganize staff and aggressively adopt labor-saving technology.</b> This chart shows how routine jobs have disappeared at an increasing rate during the past three recessions, which started in 1990, 2001 and 2007:</i></div>
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<img alt="Source: Federal Reserve Bank of Dallas" src="http://l.yimg.com/os/publish-images/finance/2014-06-05/2e3bbcc0-eca6-11e3-b7e2-39b4dc5b7d16_Routine1.JPG" height="440" width="640" /></div>
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<i>The obvious implication for workers is that it’s better to have a nonroutine job than a routine one. The more your job involves thinking, creativity, innovation and problem-solving, the better off you’re likely to be.</i></div>
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<i>Women, it turns out, have adapted better to this workplace dichotomy than men. Men have been more likely to move from the middle of the skill ladder to the lower end, while women tend to move from the middle to the higher end. That’s probably because women have been earning a larger share of college and graduate degrees, with better education making them more adept at climbing the skill ladder. Men at risk of falling in the other direction might want to heed the example. This chart shows the changes by gender between 1979 and 2007:</i></div>
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<i>The first “jobless recovery,” in the early 1990s, was followed by nearly a decade of booming growth, which obscured its significance. That’s not likely to happen now. The development of advanced robots, drones, autonomous vehicles, artificial intelligence and other technologies could replace even more routine jobs in the future, and perhaps some nonroutine ones as well. Competing with the machines will only get more challenging.</i></div>
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CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-54932448005076540222014-06-10T13:20:00.000-06:002014-06-10T13:20:41.501-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Budget Deficits and Surpluses Since World War II</b></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Below is a chart showing the the budget deficits and surpluses since WWII. The second chart shows the the period since 1969 in more detail. From one of my favorite websites <a href="http://www.connectthedotsusa.com/federal-budget.html">Connect the Dots USA:</a></span><br />
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<img src="http://www.connectthedotsusa.com/images/FavSlides/FedBudget/DeficitSince1970.jpg" height="480" width="640" />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-83681143297662348882014-06-07T21:59:00.000-06:002014-06-07T22:02:30.427-06:00<b><span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;">"The End of History" 25 Years Later by Francis Fukuyama</span></b><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">25 years ago Francis Fukuyama published his famous essay called The End of History. On June 6, 2014 he published an "update" to his essay. It is worth the read. This update is below. The bold emphasis is mine. From the <a href="http://online.wsj.com/articles/at-the-end-of-history-still-stands-democracy-1402080661?mod=WSJ_myyahoo_module">Wall Street Journal</a>:</span><br />
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<i>Twenty-five years ago, I wrote the essay "The End of History?" for a small journal called the National Interest. It was the spring of 1989, and for those of us who had been caught up in the big political and ideological debates of the Cold War, it was an incredible moment. The piece appeared a few months before the fall of the Berlin Wall, right about the time that pro-democracy protests were taking place in Beijing's Tiananmen Square and in the midst of a wave of democratic transitions in Eastern Europe, Latin America, Asia and sub-Saharan Africa.</i></div>
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<i><b>I argued that History (in the grand philosophical sense) was turning out very differently from what thinkers on the left had imagined. The process of economic and political modernization was leading not to communism, as the Marxists had asserted and the Soviet Union had avowed, but to some form of liberal democracy and a market economy. History, I wrote, appeared to culminate in liberty: elected governments, individual rights, an economic system in which capital and labor circulated with relatively modest state oversight.</b></i></div>
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<i>Looking back at that essay from the present moment, let's begin with an obvious point: The year 2014 feels very different from 1989.</i></div>
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<i>Russia is a menacing electoral authoritarian regime fueled by petrodollars, seeking to bully its neighbors and take back territories lost when the Soviet Union dissolved in 1991. China remains authoritarian but now has the second-largest economy in the world, as well as its own territorial ambitions in the South and East China Seas. As the foreign-policy analyst Walter Russell Mead recently wrote, old-fashioned geopolitics has returned big time, and global stability is being threatened at both ends of Eurasia.</i></div>
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<i>The problem in today's world isn't just that authoritarian powers are on the move but that many existing democracies aren't doing well either. Take Thailand, whose frayed political fabric gave way last month to a military coup, or Bangladesh, whose system remains in thrall to two corrupt political machines. Many countries that seemed to have made successful democratic transitions—Turkey, Sri Lanka, Nicaragua—have been backsliding into authoritarian practices. Others, including recent additions to the European Union like Romania and Bulgaria, are still plagued by corruption.</i></div>
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<b><i>And then there are the developed democracies. Both the U.S. and the </i><i> European Union </i><i style="line-height: 1.4em;">experienced severe financial crises in the past decade, which meant anemic growth and high unemployment, especially for young people. Though the U.S. economy has now started to expand again, the benefits haven't been evenly shared, and the country's polarized and partisan political system hardly seems a shining example for other democracies.</i></b></div>
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<i>So has my end-of-history hypothesis been proven wrong, or if not wrong, in need of serious revision? I believe that the underlying idea remains essentially correct, but I also now understand many things about the nature of political development that I saw less clearly during the heady days of 1989.</i></div>
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<i><b>When observing broad historical trends, it is important not to get carried away by short-term developments. The hallmark of a durable political system is its long-term sustainability, not its performance in any given decade.</b></i></div>
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<i>Let's consider, to begin with, how dramatically economic and political systems have changed over the last two generations. On the economic front, the world economy saw a massive increase in output, roughly quadrupling between the early 1970s and the financial crisis of 2007-08. Though the crisis was a large setback, levels of prosperity throughout the world have increased massively and on all continents. This has come about because the world has been knit together in a liberal system of trade and investment. Even in communist countries such as China and Vietnam, market rules and competition dominate.</i></div>
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<i>Huge changes have taken place in the political sphere as well. In 1974, according to the Stanford University democracy expert Larry Diamond, there were only about 35 electoral democracies, which represented something less than 30% of the world's countries. By 2013, that number had expanded to about 120, or more than 60% of the total. The year 1989 marked only a sudden acceleration of a broader trend that the late Harvard political scientist Samuel Huntington labeled the <a class="icon none" data-ls-seen="1" href="http://www.ou.edu/uschina/gries/articles/IntPol/Huntington.91.Demo.3rd.pdf" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #115b8f; margin: 0px; outline: none; padding: 0px; vertical-align: baseline; word-wrap: break-word;" target="_new">"third wave" of democratization</a>, a wave that had begun with the transitions in southern Europe and Latin America some 15 years earlier and would later spread to sub-Saharan Africa and Asia.</i></div>
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<i><b>The emergence of a market-based global economic order and the spread of democracy are clearly linked. Democracy has always rested on a broad middle class, and the ranks of prosperous, property-holding citizens have ballooned everywhere in the past generation. Wealthier, better-educated populations are typically much more demanding of their governments—and because they pay taxes, they feel entitled to hold public officials accountable. Many of the world's most stubborn bastions of authoritarianism are oil-rich states such as Russia, Venezuela or the regimes in the Persian Gulf, where the "resource curse," as it has been called, gives the government enormous revenues from a source other than the people themselves.</b></i></div>
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<i>Even granting the ability of oil-rich autocrats to resist change, we have since 2005 witnessed what Dr. Diamond calls a global "democratic recession." According to <a class="icon none" data-ls-seen="1" href="http://www.freedomhouse.org/" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #115b8f; margin: 0px; outline: none; padding: 0px; vertical-align: baseline; word-wrap: break-word;" target="_new">Freedom House</a>, which publishes widely used measures of political and civil liberties, there has been a decline in both the number and the quality of democracies (integrity of elections, freedom of the press, etc.) over the past eight consecutive years.</i></div>
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<i>But let's put this democratic recession in perspective: While we may worry about authoritarian trends in Russia, Thailand or Nicaragua, all of these countries were unambiguous dictatorships in the 1970s. Despite those thrilling revolutionary days in Cairo's Tahrir Square in 2011, the Arab Spring doesn't look like it will yield a real democracy anywhere but the country where it started, Tunisia. Still, it is likely to mean more responsive Arab politics over the long haul. Expectations that this would happen quickly were extremely unrealistic. We forget that following the revolutions of 1848—Europe's "Springtime of Peoples"—democracy took another 70 years to consolidate.</i></div>
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<i>In the realm of ideas, moreover, liberal democracy still doesn't have any real competitors. Vladimir Putin's Russia and the ayatollahs' Iran pay homage to democratic ideals even as they trample them in practice. Why else bother to hold sham referendums on "self-determination" in eastern Ukraine? Some radicals in the Middle East may dream of restoring an Islamist caliphate, but this isn't the choice of the vast majority of people living in Muslim countries. <b>The only system out there that would appear to be at all competitive with liberal democracy is the so-called "China model," which mixes authoritarian government with a partially market-based economy and a high level of technocratic and technological competence.</b></i></div>
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<i><b>Yet if asked to bet whether, 50 years from now, the U.S. and Europe would look more like China politically or vice versa, I would pick the latter without hesitation. There are many reasons to think that the China model isn't sustainable. The system's legitimacy and the party's ongoing rule rest on continued high levels of growth, which simply won't be forthcoming as China seeks to make the transition from a middle-income country to a high-income one.</b></i></div>
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<i>China has accumulated huge hidden liabilities by poisoning its soil and air, and while the government remains more responsive than most authoritarian systems, the country's growing middle class likely won't accept the current system of corrupt paternalism when times get tough. China no longer projects a universalistic ideal beyond its own borders, as it did in the revolutionary days of Mao. With its rising levels of inequality and the massive advantages enjoyed by the politically connected, the "Chinese dream" represents nothing more than a route for a relative few to get rich quickly.</i></div>
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<i>None of this means, however, that we can rest content with democracy's performance over the past couple of decades. My end-of-history hypothesis was never intended to be deterministic or a simple prediction of liberal democracy's inevitable triumph around the world. Democracies survive and succeed only because people are willing to fight for the rule of law, human rights and political accountability. Such societies depend on leadership, organizational ability and sheer good luck.</i></div>
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<i><b>The biggest single problem in societies aspiring to be democratic has been their failure to provide the substance of what people want from government: personal security, shared economic growth and the basic public services (especially education, health care and infrastructure) that are needed to achieve individual opportunity. Proponents of democracy focus, for understandable reasons, on limiting the powers of tyrannical or predatory states. But they don't spend as much time thinking about how to govern effectively. They are, in Woodrow Wilson's phrase, more interested in "controlling than in energizing government."</b></i></div>
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<i>This was the failure of the 2004 Orange Revolution in Ukraine, which toppled Viktor Yanukovych for the first time. The leaders who came to power through those protests—Viktor Yushchenko and Yulia Tymoshenko—wasted their energy on internal squabbling and shady deals. Had an effective democratic administration come to power, cleaning up corruption in Kiev and making the state's institutions more trustworthy, the government might have established its legitimacy across Ukraine, including the Russian-speaking east, long before Mr. Putin was strong enough to interfere. Instead, the democratic forces discredited themselves and paved the way for Mr. Yanukovych's return in 2010, thus setting the stage for the tense, bloody standoff of recent months.</i></div>
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<i>India has been held back by a similar gap in performance when compared with authoritarian China. It is very impressive that India has held together as a democracy since its founding in 1947. But Indian democracy, like sausage-making, doesn't look very appealing on closer inspection. The system is rife with corruption and patronage; 34% of the winners of India's recent elections have criminal indictments pending against them, according to India's Association for Democratic Reforms, including serious charges like murder, kidnapping and sexual assault.</i></div>
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<i>The rule of law exists in India, but it is so slow and ineffective that many plaintiffs die before their cases come to trial. The Indian Supreme Court has a backlog of more than 60,000 cases, according to the Hindustan Times. Compared with autocratic China, the world's largest democracy has been completely hamstrung in its ability to provide modern infrastructure or basic services such as clean water, electricity or basic education to its population.</i></div>
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<i><span style="color: #333333;">In some Indian states, 50% of schoolteachers fail to show up for work, according to the economist and activist Jean Drèze. Narendra Modi, a Hindu nationalist with </span><a class="icon none" data-ls-seen="1" href="http://online.wsj.com/news/articles/SB10001424052702303380004579520041301275638" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; margin: 0px; outline: none; padding: 0px; vertical-align: baseline; word-wrap: break-word;" target="_new"><span style="color: black;">a troubling past of tolerating anti-Muslim violence</span></a><span style="color: #333333;">, has just been elected prime minister by an impressive majority in the hope that he will somehow cut through all the blather of routine Indian politics and actually get something done.</span></i></div>
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<i><b>Americans, more than other people, often fail to understand the need for effective government, focusing instead on the constraint of authority. In 2003, the George W. Bush administration seemed to believe that democratic government and a market-oriented economy would spontaneously emerge in Iraq once the U.S. had eliminated Saddam Hussein's dictatorship. It didn't understand that these arise from the interaction of complex institutions—political parties, courts, property rights, shared national identity—that have evolved in developed democracies over many decades, even centuries.</b></i></div>
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<i>The inability to govern effectively extends, unfortunately, to the U.S. itself. Our Madisonian Constitution, deliberately designed to prevent tyranny by multiplying checks and balances at all levels of government, has become a vetocracy. In the polarized—indeed poisonous—political atmosphere of today's Washington, the government has proved unable to move either forward or backward effectively.</i></div>
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<i><b>Contrary to the hysterics on either side, the U.S. faces a very serious long-term fiscal problem that is nonetheless solvable through sensible political compromises. But Congress hasn't passed a budget, according to its own rules, in several years, and last fall, the GOP shut down the entire government because it couldn't agree on paying for past debts. Though the U.S. economy remains a source of miraculous innovation, American government is hardly a source of inspiration around the world at the present moment.</b></i></div>
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<i>Twenty-five years later, the most serious threat to the end-of-history hypothesis isn't that there is a higher, better model out there that will someday supersede liberal democracy; neither Islamist theocracy nor Chinese capitalism cuts it. Once societies get on the up escalator of industrialization, their social structure begins to change in ways that increase demands for political participation. If political elites accommodate these demands, we arrive at some version of democracy.</i></div>
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<i>The question is whether all countries will inevitably get on that escalator. The problem is the intertwining of politics and economics. Economic growth requires certain minimal institutions such as enforceable contracts and reliable public services before it will take off, but those basic institutions are hard to create in situations of extreme poverty and political division. Historically, societies broke out of this "trap" through accidents of history, in which bad things (like war) often created good things (like modern governments). It is not clear, however, that the stars will necessarily align for everyone.</i></div>
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<i>A second problem that I did not address 25 years ago is that of political decay, which constitutes a down escalator. All institutions can decay over the long run. They are often rigid and conservative; rules responding to the needs of one historical period aren't necessarily the right ones when external conditions change.</i></div>
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<i>Moreover, modern institutions designed to be impersonal are often captured by powerful political actors over time. The natural human tendency to reward family and friends operates in all political systems, causing liberties to deteriorate into privileges. This is no less true in a democracy (look at the current U.S. tax code) than in an authoritarian system. In these circumstances, the rich tend to get richer not just because of higher returns to capital, as the French economist Thomas Piketty <a class="icon none" data-ls-seen="1" href="http://online.wsj.com/news/articles/SB10001424052702303480304579575890128783848" style="background-attachment: initial; background-clip: initial; background-image: initial; background-origin: initial; background-position: initial; background-repeat: initial; background-size: initial; color: #115b8f; margin: 0px; outline: none; padding: 0px; vertical-align: baseline; word-wrap: break-word;" target="_new">has argued</a>, but because they have superior access to the political system and can use their connections to promote their interests.</i></div>
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<i>As for technological progress, it is fickle in distributing its benefits. Innovations such as information technology spread power because they make information cheap and accessible, but they also undermine low-skill jobs and threaten the existence of a broad middle class.</i></div>
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<i>No one living in an established democracy should be complacent about its survival. But despite the short-term ebb and flow of world politics, the power of the democratic ideal remains immense. We see it in the mass protests that continue to erupt unexpectedly from Tunis to Kiev to Istanbul, where ordinary people demand governments that recognize their equal dignity as human beings. We also see it in the millions of poor people desperate to move each year from places like Guatemala City or Karachi to Los Angeles or London.</i></div>
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<i>Even as we raise questions about how soon everyone will get there, we should have no doubt as to what kind of society lies at the end of History.</i></div>
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<i>Mr. Fukuyama is a senior fellow at Stanford University's Freeman Spogli Institute for International Studies and the author of "Political Order and Political Decay: From the Industrial Revolution to the Globalization of Democracy," which will be published on Oct. 1 by Farrar, Straus and Giroux.</i></div>
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CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-36796225025462702962014-06-06T18:53:00.000-06:002014-06-06T18:53:07.485-06:00<div class="introduction" id="story_continues_1" style="background-color: white; clear: left; font-family: Arial, Helmet, Freesans, sans-serif; font-weight: bold; line-height: 18px; margin-bottom: 18px; padding: 0px; text-rendering: auto;">
<span style="color: blue; font-size: large;">ECB Pushes Negative Interest Rates to Stimulate the EU Economies</span></div>
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On Thursday June 5 the ECB put into place a series of new policies including negative interest rates to stimulate the EU economies. I find it interesting that after almost five years of austerity with limited success they have sufficiently slowed down their economies to the point where they are now going to try monetary stimulation. Something the US started with in 2008.</div>
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The bold is my emphasis. From the <a href="http://www.bbc.com/news/business-27717594">BBC</a>:</div>
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<i>The European Central Bank has introduced a raft of measures aimed at stimulating the eurozone economy, including negative interest rates and cheap long-term loans to banks.</i></div>
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<b><i>It cut its deposit rate for banks from zero to -0.1%, to encourage banks to lend to businesses rather than hold on to money.</i></b></div>
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<i>The ECB also cut its benchmark interest rate to 0.15% from 0.25%.</i></div>
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<b><i>The ECB is the first major central bank to introduce negative interest rates.</i></b></div>
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<i>Howard Archer, chief UK and European economist at IHS Global Insight said: "Despite being widely anticipated and in some quarters criticised for occurring too late, it is still a bold and unusual move by the ECB to take its deposit rate into negative territory."</i></div>
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<i>"There has to be considerable uncertainty as to how effective negative deposit rates will turn out to be," he added.</i></div>
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<b><i>It has been tried before in smaller economies. Sweden and Denmark, who are both outside the Single Currency, attempted to use negative rates in recent years with mixed results.</i></b></div>
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<b><i>Analysts said in Sweden it had little discernible impact; in Denmark it did have the effect of lowering the value of the currency, the Krone, but according to the Danish Banking Association it also hit the banks' bottom line profits.</i></b></div>
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<i>The ECB's president, Mario Draghi, also announced other measures.</i></div>
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<b><i>Long term loans are to be offered to commercial banks at cheap rates until 2018. These loans would be capped at 7% of the amount that the individual banks in question lend to companies. Thus, the more the banks lend to companies, the more money they can borrow cheaply from the ECB.</i></b></div>
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<b><i>It is also doing preliminary work that could lead to buying bundles of loans that are made to small businesses in the form of bonds. This is being seen as a step towards providing companies with credit through the financial markets.</i></b></div>
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<b><i>Mr Draghi said the ECB's policymakers unanimously agreed to consider more unconventional measures to boost inflation if it stays too low. The ECB stopped short of instituting a large asset-buying programme like the quantitative easing (QE) undertaken by the US Federal Reserve. However. Mr Draghi insisted that more would be done, if necessary.</i></b></div>
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<i>"Are we finished? The answer is no. We aren't finished here. If need be, within our mandate, we aren't finished here." he said.</i></div>
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<i>Mr Draghi said that the whole package of measures was aimed at increasing lending to the "real economy".</i></div>
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<i>"Now we are in a completely different world," he said.</i></div>
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<i>Even though some of the measures, like the more to negative rates on deposits, were expected European shares moved higher on the ECB announcement.</i></div>
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<i>The benchmark German Dax 30 index jumped above the 10,000 level for the first time. The Cac 40 in Paris was up 0.8% shortly after the ECB's comments.</i></div>
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<i>Meanwhile, the euro fell to $1.3558, its lowest level in four months.</i></div>
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<i>Although the danger of deflation in the eurozone is limited, the ECB is concerned that growth is very sluggish and bank lending weak - both of which could potentially derail the fragile economic recovery.</i></div>
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<i>The eurozone economy grew by just 0.2% in the first quarter of the year. Consumer spending, investment and exports are all growing at a slower pace than this time last year.</i></div>
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<i>Inflation in the eurozone fell to 0.5% in May, down from 0.7% in April. This is well below the European Central Bank's target of just below 2%.</i></div>
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<span class="cross-head" style="display: block; font-weight: bold; line-height: 16px; margin: 0px 0px 16px; text-rendering: optimizelegibility;"><span style="line-height: 18px;"><span style="color: blue;"><i>If the eurozone slips into deflation, the fear is that consumers might spend even less because they would expect prices to fall in future months. For the same reason investors could stop investing.</i></span></span></span></div>
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<i>Growth would then be hit and demand would be severely constrained. The large debts amassed by the eurozone's countries, companies and banks would take longer and be harder to pay off.</i></div>
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<i>Unemployment, which is already at nearly 12% in the eurozone, and much higher in places like Spain, Portugal and Greece, could get even worse.</i></div>
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<i>Mr Draghi emphasised that recovery in the eurozone was not just in the hands of the ECB, but also in the domain of the banks and the governments. He said the banks needed to play their part by increasing lending and reforms by national governments should be carried through.</i></div>
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<i>"In order to strengthen the economic recovery, banks and policy-makers in the euro area must step up their efforts. Banks should take full advantage of this exercise to improve their capital and solvency position, thereby contributing to overcome any existing credit supply restriction that could hamper the recovery."</i></div>
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<i>"At the same time, policymakers in the euro area should push ahead in the areas of fiscal policies and structural reforms," he added.</i></div>
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CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-44640499786331408632014-06-05T13:04:00.001-06:002014-06-05T13:04:23.880-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Distribution of Health Coverage in the US</b></span><br />
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b><br /></b></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Below are a couple of charts showing the distribution of health coverage in the US for the period 2011 - 2012, the most recent period for which I could find information. The colorful chart is from Connect the Dots USA and the second is from the Kaiser Familiy Foundation. The charts say the same thing, but the first one is more colorful. Just a quick note, unlike what many people think the uninsured makes up about 15% of the US population, Medicaid is 16%, Medicare is 14%, and Employers cover about 48% of the people in the US.</span><br />
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<a href="http://www.connectthedotsusa.com/images/FavSlides/Healthcare/AmerHealthCrazyQuilt.jpg"><span style="font-family: Arial, Helvetica, sans-serif;">Connect the Dots USA</span></a><br />
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<a href="http://kff.org/other/state-indicator/total-population/"><span style="font-family: Arial, Helvetica, sans-serif;">Kaiser Family Foundation</span></a><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">From the KFF:</span><br />
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<table class="tablesorter" id="indicator-table" style="border-collapse: collapse; border-left-color: rgb(204, 204, 204); border-left-style: solid; border-spacing: 0px; border-top-color: rgb(204, 204, 204); border-top-style: solid; border-width: 1px 0px 0px 1px; font-size: 16px; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><thead style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">
<tr class="chr-row even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><th class="sorted" style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Location</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Employer</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Other Private</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Medicaid</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Medicare</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Other Public</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Uninsured</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Total</span></th></tr>
</thead><tbody style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">
<tr class="usa" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="United States" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">United States<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.481836572" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">48%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.050843092" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.164725054" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.135257376" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.012756711" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.154581194" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%</td></tr>
</tbody></table>
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<table class="tablesorter" id="indicator-table" style="border-collapse: collapse; border-left-color: rgb(204, 204, 204); border-left-style: solid; border-spacing: 0px; border-top-color: rgb(204, 204, 204); border-top-style: solid; border-width: 1px 0px 0px 1px; font-size: 16px; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><thead style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">
<tr class="chr-row even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><th class="sorted" style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Location</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Employer</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Other Private</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Medicaid</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Medicare</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Other Public</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Uninsured</span></th><th style="background: rgb(221, 221, 221); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: center; vertical-align: middle;"><span class="sortMe" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;" title="click to sort">Total</span></th></tr>
</thead><tbody style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;">
<tr class="usa" style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="United States" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">United States<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.481836572" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">48%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.050843092" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.164725054" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.135257376" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.012756711" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.154581194" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="background: rgb(239, 239, 239); border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; font-weight: bolder; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Alabama" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Alabama<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.474269324" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">47%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.049995813" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.16361695" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.156456746" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.016099992" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.139561176" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Alaska" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Alaska<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.496267585" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">50%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.034022394" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.148148148" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.081682458" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">8%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.051248923" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.188486937" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">19%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Arizona" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Arizona<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.450622444" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">45%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.042590707" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.182112511" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">18%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.132149751" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.015032908" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.177491678" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">18%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Arkansas" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Arkansas<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.39978667" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">40%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.041392836" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.18951932" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">19%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.171730379" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.018133021" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.179437773" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">18%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="California" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">California<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.447709005" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">45%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.06003722" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">6%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.193663577" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">19%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.100804314" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.009397799" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.188382783" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">19%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Colorado" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Colorado<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.51849736" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">52%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.07322118" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">7%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.130840753" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.11752423" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.012843748" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.14705303" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Connecticut" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Connecticut<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.579137509" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">58%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.049980088" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.148119702" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.135005974" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.083376003" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">8%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Delaware" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Delaware<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.50617284" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">51%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.035146257" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.178511845" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">18%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.168835502" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.104437771" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="District of Columbia" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">District of Columbia<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.49408" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">49%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.06928" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">7%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.25264" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">25%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.09712" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.0816" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">8%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Florida" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Florida<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.410366139" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">41%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.054387835" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.138453218" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.170267844" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.019606505" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.20691846" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">21%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Georgia" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Georgia<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.472400674" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">47%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.048036342" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.143537288" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.114628163" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">11%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.028160669" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.193247261" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">19%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Hawaii" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Hawaii<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.530675309" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">53%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.037383178" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.182845945" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">18%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.14410612" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.026303889" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.078685559" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">8%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Idaho" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Idaho<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.47040952" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">47%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.07209317" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">7%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.136211153" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.145262358" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.164314197" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Illinois" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Illinois<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.503573621" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">50%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.047984131" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.165787692" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.133719557" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.007037043" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.141890084" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Indiana" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Indiana<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.516751846" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">52%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.031342671" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.17031043" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.146744274" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.12718468" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Iowa" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Iowa<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.526197183" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">53%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.072477216" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">7%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.158574979" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.134018227" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.007821044" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.10091135" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Kansas" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Kansas<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.498175835" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">50%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.062736963" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">6%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.134022462" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.147614279" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.025359468" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.132126762" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Kentucky" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Kentucky<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.473801302" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">47%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.043428889" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.176519664" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">18%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.13897708" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.016291627" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.150981437" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Louisiana" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Louisiana<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.432492184" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">43%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.0330728" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.197789192" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">20%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.133273783" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.196270657" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">20%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Maine" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Maine<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.477416441" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">48%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.039521229" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.232535381" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">23%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.133167721" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.019722975" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.097711533" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Maryland" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Maryland<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.567969822" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">57%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.045473251" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.121141975" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.122290809" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.011522634" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.131601509" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Massachusetts" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Massachusetts<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.569098607" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">57%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.044389416" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.217070971" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">22%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.129163418" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.037572033" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Michigan" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Michigan<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.503731689" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">50%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.050092134" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.172501827" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.152304382" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.116778703" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Minnesota" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Minnesota<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.569334412" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">57%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.059219811" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">6%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.138951092" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.136147231" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.008806759" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.087540694" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">9%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Mississippi" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Mississippi<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.445056079" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">45%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.04352164" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.202986307" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">20%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.134899883" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.015413198" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.158122893" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Missouri" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Missouri<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.502566007" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">50%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.060199878" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">6%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.136842461" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.151529475" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.00778243" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.141079749" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Montana" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Montana<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.412786587" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">41%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.076456924" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">8%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.126350874" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.174931825" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.026764973" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.182708817" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">18%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Nebraska" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Nebraska<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.527923211" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">53%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.083060646" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">8%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.109947644" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">11%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.130780977" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.019960733" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.128326789" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Nevada" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Nevada<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.472290048" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">47%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.045837958" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.103107658" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.132149464" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.015427303" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.231187569" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">23%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="New Hampshire" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">New Hampshire<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.589295299" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">59%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.04777241" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.084042635" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">8%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.146461161" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.009738517" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.122766659" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="New Jersey" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">New Jersey<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.548176663" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">55%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.040696602" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.121455903" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.13686552" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.00534784" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.147457471" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="New Mexico" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">New Mexico<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.377557498" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">38%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.046633136" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.206553054" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">21%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.148688901" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.207969139" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">21%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="New York" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">New York<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.480692141" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">48%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.043893268" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.230674014" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">23%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.122683627" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.00449032" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">0%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.11756663" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="North Carolina" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">North Carolina<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.458998834" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">46%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.048567138" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.160024782" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.146047948" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.01790421" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.168467589" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="North Dakota" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">North Dakota<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.569178687" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">57%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.092434501" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">9%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.094642331" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">9%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.127023845" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.012805417" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.103915219" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Ohio" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Ohio<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.495977442" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">50%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.049187117" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.159941843" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.155077764" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.009807464" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.129999559" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Oklahoma" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Oklahoma<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.444477236" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">44%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.046414295" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.1722963" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.14831111" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.017304751" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.171196308" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Oregon" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Oregon<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.464467859" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">46%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.069303855" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">7%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.165324773" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.146736739" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.146089523" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Pennsylvania" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Pennsylvania<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.524662617" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">52%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.05598229" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">6%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.151796617" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.149433166" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.114044417" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">11%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Rhode Island" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Rhode Island<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.496855346" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">50%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.046540881" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.165553943" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.157813256" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.011127238" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.122206096" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="South Carolina" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">South Carolina<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.461342378" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">46%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.048346331" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.16214815" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.149661921" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.011946167" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.166555054" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="South Dakota" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">South Dakota<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.478842144" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">48%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.088679014" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">9%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.142278916" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.135410278" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.017294248" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.1374954" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Tennessee" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Tennessee<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.454836674" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">45%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.05185419" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.180890011" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">18%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.150039451" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.025611488" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.136768187" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Texas" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Texas<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.452618551" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">45%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.03798431" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.150975021" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.101898052" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.013932753" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.242595194" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">24%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Utah" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Utah<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.579258787" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">58%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.064732143" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">6%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.104804422" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.094919218" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">9%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.010487528" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">1%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.145833333" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Vermont" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Vermont<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.468272047" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">47%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.049463065" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.244874715" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">24%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.153107712" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.07793687" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">8%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Virginia" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Virginia<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.544023368" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">54%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.052400642" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.104459871" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.133138601" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.035506999" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">4%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.130483163" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Washington" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Washington<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.498682719" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">50%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.04703943" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">5%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.158206143" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">16%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.128298721" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">13%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.026581105" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">3%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.141191881" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="West Virginia" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">West Virginia<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.474247861" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">47%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.023902843" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.171128899" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.171239304" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.14827491" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">15%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Wisconsin" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Wisconsin<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.524500106" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">52%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.05795591" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">6%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.171960008" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.140411927" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">14%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="NSD" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">NSD<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.100597047" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">10%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
<tr class="even" style="background-color: #f9f7f5; border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><td class="loc" data-raw="Wyoming" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">Wyoming<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.510383668" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">51%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.064589933" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">6%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.117740232" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.124428018" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">12%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.016719465" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">2%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="0.166314678" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">17%<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td><td data-raw="1" style="border-bottom-color: rgb(204, 204, 204); border-bottom-style: solid; border-right-color: rgb(204, 204, 204); border-right-style: solid; border-width: 0px 1px 1px 0px; font-family: Arial, sans-serif; font-size: 12px; font-style: inherit; font-variant: inherit; line-height: inherit; margin: 0px; padding: 4px 8px; text-align: right; vertical-align: middle;">100%<br />
<span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"><span style="border: 0px; font-family: inherit; font-style: inherit; font-variant: inherit; font-weight: inherit; line-height: inherit; margin: 0px; padding: 0px; vertical-align: baseline;"></span></span></td></tr>
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CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-85600376618507852802014-06-04T06:54:00.001-06:002014-06-04T06:54:27.730-06:00<b><span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;">Who Are the Rich? A Few Demograhics</span></b><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Below is a quick description of the rich. There are about 6.15 million households in the US with investable assets (does not include real estate) of $1 MM or more. That is about 5.3% of the total number of households in the US. Most millionaire households are business owners, married, and older.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">The following is a demographic description of the rich as defined by Infographics. Basically, the rich are broken out into 3 groups:</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Affluent = $1MM - $5MM in investable assets </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">Super Affluent = $5MM - $25MM in investable assets</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;">Ultra Affluent = $25MM+ in investable assets</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">investable assets = assets less real estate</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">From <a href="http://www.financial-planning.com/news/client/infographic-who-are-the-rich-2689382-1.html">Financial Planning</a> and the <a href="http://blogs.wsj.com/economics/2014/01/16/where-are-the-u-s-s-millionaires/">WSJ</a>:</span><br />
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<img src="http://cdn.financial-planning.com/media/newspics/Long_Infograpic_FP_June.jpg" />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-12592506181623833172014-06-03T17:26:00.001-06:002014-06-03T17:26:51.246-06:00<div style="line-height: 23px; margin: 0px 0px 20px; padding: 0px;">
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Bernanke - Fed Funds Rate Will Not Exceed 4% for a Long Time</b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">Ben Bernanke made these comments in mid-May and he basically said the fed funds rate would not exceed the long term average of 4% for a long time. This 1950s style interest rate environment is largely due to a weak economy and a weak labor market. A weak economy will keep the inflation rate moderate and should keep the stock market increasing in value. With low interest rates stock market P/Es should increase moderately. Interesting comment. I suspect that he is correct.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;">The article is in italics and the bold is my emphasis. From <a href="http://www.reuters.com/article/2014/05/16/us-usa-fed-bernanke-insight-idUSBREA4F0OG20140516">Reuters</a>:</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>In a series of quarter-million-dollar dinners with wealthy private investors, Ben Bernanke has been clearer than he ever was as chairman of the Federal Reserve on his expectations that easy-money policies and below-normal interest rates are here for a long time to come, according to some of those in attendance.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>Bernanke, who retired from the U.S. central bank in January, has predicted the Fed will only very slowly move to raise rates, and probably do so later than many forecast because the labor market still has a lot more room to recover from the financial crisis and recession.</b></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><span class="focusParagraph" style="line-height: normal;"></span><span id="midArticle_1" style="line-height: normal;"></span><span id="midArticle_2" style="line-height: normal;"></span></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The accounts of the discussions come from attendees as well as those who heard second-hand what was said at the dinners, where hedge fund managers and others willing to foot the roughly $250,000 bill for each event asked the former Fed chairman questions in a free-flowing round-table fashion over recent weeks.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Bernanke has no constraints on expressing his views in public or private, providing he does not talk about confidential Fed matters. He declined to comment on any of his remarks at the private events.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The demand for Bernanke's time shows that many of Wall Street's highest-profile brokers and investors see him as holding rare insight on how the Fed will react in the months and years ahead - and are prepared to pay big bucks to get private access to those views.</i></span></div>
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<span style="color: blue; font-family: Arial, Helvetica, sans-serif;"><i><b>At least one guest left a New York restaurant with the impression Bernanke, 60, does not expect the federal funds rate, the Fed's main benchmark interest rate, to rise back to its long-term average of around 4 percent in Bernanke's lifetime, one source who had spoken to the guest said.</b></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Under his direction, the Fed took the fed funds rate, its key policy lever, to near zero in late 2008 as the financial crisis raged. The central bank has held it there ever since in a bid to stimulate a stronger rebound in the world's largest economy.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Another dinner guest was moved when Bernanke said the Fed aims to hit its 2 percent inflation target at all times, and that it is not necessarily a ceiling. . . .</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>. . . . Since leaving the Fed at the end of January after serving eight years as chairman, Bernanke has taken a position as a distinguished fellow at the Brookings Institution, a think tank in Washington. . . .</i></span></div>
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<i style="font-family: Arial, Helvetica, sans-serif;">. . . . He is known to be close with his successor, Janet Yellen, adding to perceptions that he should know what the thinking is at the Fed months after his departure. It is a particularly sensitive time as Yellen works to reverse the biggest monetary stimulus experiment ever - and investors who understand how the Fed is going to proceed have an advantage over those who don't. . . .</i></div>
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<i style="font-family: Arial, Helvetica, sans-serif;">. . . Bernanke's last major act as Fed chairman was to announce, in December, plans for the winding down of the central bank's huge stimulus, a bond-buying program called "quantitative easing," which should end by this fall.</i></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>That was greeted by a sell-off in the bond market, where expectations for future interest rate levels are particularly important, because many investors believed the Fed would move on to raising interest rates in fairly short order. The yield on the benchmark 10-year Treasury note ended the year just above 3 percent, the highest since the summer of 2011.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>To the surprise of many, however, bonds have rallied back hard this year, driving the 10-year yield down by half a percentage point. The shift comes as more and more investors come to embrace a view Bernanke has been sharing with his dinner guests: There is just too much slack remaining in the economy to support a rise in interest rates. . . . </b></i></span></div>
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<i style="font-family: Arial, Helvetica, sans-serif;">The investors have asked Bernanke about everything from how the Fed will shrink its $4.3 trillion balance sheet to why exactly it didn't start to cut bond purchases last September, when expectations were high.</i></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>By most accounts, Bernanke has been candid and sometimes feisty, defending his eight-year record of steering the U.S. economy through the deepest recession in decades. <span style="color: blue;">Often using the pronoun "we" to describe the Fed, he has been careful not to contradict Yellen's public comments, in which she too has stressed that the labor market is far from fully healed.</span></b></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>In its first policy statement under Yellen, in March, the central bank said the federal funds rate may need to stay below average even after it reaches its goals for employment and inflation.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>In one dinner-table exchange with investors, Bernanke argued that fiscal tightening, constrained financial markets and lower U.S. productivity all point to lower real rates than would be considered normal for a long time to come.</b></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Based on trading in the massive Eurodollar futures market, investors have in recent months tempered expectations of rate rises in the years ahead; as it stands, they don't expect the fed funds rate to return to 4 percent until 2022. As recently as last September, futures markets signaled they thought this would happen by the end of 2018.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>At the dinners, Bernanke has also argued the Fed would want to delay raising rates if the tighter financial conditions created could threaten to harm the economy. He has also stressed that financial stability concerns would more formally be considered in policy-making, according to the sources. . . .</i></span></div>
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CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-19769611086273619432014-06-02T09:21:00.000-06:002014-06-02T09:21:14.506-06:00<div style="background-color: white; box-sizing: border-box; line-height: 1.3125em; margin-bottom: 28px;">
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>The Wealth Effect is Failing to Drive Consumer Spending</b></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">This is an interesting article from Bloomberg that discusses the diminishing value of the Wealth Effect on consumer spending. Although the author believes that decline in consumption from the wealth effect is due to "rich people have enough stuff", I strongly suspect it results from the lack of borrowing by the consumer.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">The article is in italics and the bold is my emphasis. From <a href="http://www.bloomberg.com/news/2014-04-17/wealth-effect-failing-to-move-wealthy-to-spend.html">Bloomberg</a>:</span></div>
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<i><span style="font-family: Arial, Helvetica, sans-serif; font-size: 1.1em; line-height: 1.3125em;">The wealth effect isn’t what it once was for the US economy.</span><span style="font-family: Arial, Helvetica, sans-serif; font-size: 1.1em; line-height: 1.3125em;">.</span></i></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>While the wealth of American households has jumped more than $25 trillion since early 2009 amid rising equity and home prices, the pass-through to consumer spending is lagging the $1 trillion fillip that would have been anticipated historically,</b> according to Michael Feroli, chief U.S. economist at JP Morgan Chase Co.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>This means consumer spending has been exceptionally weak once wealth is accounted for, he said. With wealth gains now moderating, consumer spending could revert to what is already a weak trend, Feroli said in an April 11 report.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>His calculations show that since the recession ended in 2009, households have spent 1.7 cents of every extra $1 earned in wealth. That’s less than half the 3.8-cent average implied by data between 1952 and 2009, suggesting the trend for consumer spending gains over the past three years has been less than 1 percent once the wealth effect is stripped out.</b></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>One reason for the adjustment may be that those enjoying gains in wealth are already rich, so have less propensity to increase spending incrementally. <b>Withdrawing equity from homes has also been negative for five years.</b></i></span><br />
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<span style="color: #073763; font-family: Arial, Helvetica, sans-serif;">(Ed. note) - An alternative explanation as to why consumer spending is lower than in the past is because consumers are not borrowing as much as they have in the past. If consumers are not using the credit cards as much and paying down their home equity loans (see paragrph) above this would diminish the wealth effect.</span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The good news is that income expectations are starting to pick up, which should encourage the spending acceleration that greater wealth failed to spark, said Feroli, a former economist at the Federal Reserve Board.</i></span></div>
CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-55904339463661404152014-06-02T09:00:00.001-06:002014-06-02T09:00:37.808-06:00<h2 itemprop="alternativeHeadline description" style="background-color: white; margin: 0px; padding: 0px 0px 10px;">
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><span style="line-height: 19.200000762939453px;">1% Drop in US GDP in Q1 Maybe an Indicator of a Weaker Economy</span></span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: small;"><span style="color: #404040;"><span style="font-weight: normal; line-height: 1.2em;">The following from Ambrose Evans-Pritchard at the UK Telegraph is an interesting view on the recent </span><span style="font-weight: normal; line-height: 28.799999237060547px;">announcement</span><span style="font-weight: normal; line-height: 1.2em;"> that the GDP for the US economy declined 1% in Q1 2014. Many are blaming the slowdown on the weather and this probably contributed to the weak economy. However, a number are stating that the weather is not to blame for all the weakness, that the economy itself is not that strong. We will see.</span></span></span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif; font-size: small;">From the <a href="http://www.telegraph.co.uk/finance/economics/10863888/US-money-slump-flashes-warnings-as-economy-contracts.html">UK Telegraph</a>:</span></h2>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>The US economy contracted sharply in the first quarter and bond yields have been falling at the fastest rate since the recession scare two years ago, in signs that bond tapering by the Federal Reserve is biting more than anticipated.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>The slowdown comes as a key indicator of the US money supply flashes slowdown warnings, though the picture remains murky after extreme weather conditions over the winter.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Output fell at an annual rate of 1pc, led by a 7.5pc fall in business spending following the expiry of tax concessions. The tax rules had brought forward investment in 2012 and 2013, leading to a cliff-edge drop this year.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>“We think there is more to this than just weather. Our leading indicators were already weakening late last year,” said Lakshman Achuthan, from the Economic Cycle Research Institute (ECRI).</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>“We may get a snap-back in the second quarter but I don’t see us reaching escape velocity. The economy is below stall-speed, according to the Fed’s own model,” he said.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>Chris Williamson, from Markit, said the GDP investment data are volatile and can be distorted by shifts in the oil and gas industry. He said the US manufacturing and services PMI index rose at the fastest pace for three years in May while unemployment claims have fallen to the lowest since 2007, pointing to a solid recovery. “The acid test of economic resilience will be how the data settle after the second quarter,” he said.</b></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>ECRI said the housing recovery has rolled over and is now in a “cyclical downswing”, with the building permits for single-family homes falling to a three-year low. There will be less “fiscal drag” this year as austerity fades but this is more than offset by the drag of excess inventory.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Mr Achuthan said the economy may muddle through, but recoveries have been getting weaker with each cycle for the past 40 years. The US now seems caught in a Japan-style trap, endlessly masking the effect by stealing a little extra growth from the future with artificial stimulus.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Data from the Centre for Financial Stability in New York show that growth of the “Divisia M4” money supply slowed abruptly to 1.6pc in April, down from 6pc in early 2013.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Divisia M4 is a dynamic measure that aims to capture shifting uses of money. It is has been one of the best weather vanes over recent years, signalling economic health a few months ahead.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>Professor William Barnett, a former Fed official now at the University of Kansas, said the weak M4 figures are a sign that the US is not recovering properly, leaving the Fed with a grim choice as it tries to wean the economy off emergency policies that are themselves causing havoc. “The Fed faces a 'Catch 22' decision. </b>I am glad I am no longer on the Board's staff,” he said.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>The Fed has cut its bond purchases from $85bn to $45bn a month, and is expected to halt quantitative easing altogether by October as it pares back $10bn at each meeting. The taper is clearly chipping away at a key prop of the economy. The stock of narrow M1 money has not grown for four months, and M1 velocity has fallen to an all-time low of 6.3.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>John Hathaway, from the Tocqueville Gold Fund, said the Fed may find it cannot extricate itself from QE without aborting the recovery. “The US economy is quite anaemic. There's a good chance that they may have to reverse their course on tapering,” he told CNBC.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>US Treasuries have fallen to an 11-month low of 2.41pc, dropping 60 basis points since January in a pattern that would normally signal a slowdown.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>Jan Loeys, from JP Morgan, said the strange action in the bond markets is causing a “growing unease among investors that something is not right about the world economy”, but it may merely be the result of very low inflation and therefore benign.</i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Former Fed chairman Ben Bernanke said recently that long-term yields would never reach 4pc again in his lifetime, portraying a changed world where nothing returns to normal.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>The concern is that this recovery may die of old age after five years, even though it has been the weakest expansion since the Second World War, failing to close the output gap or bring the long-term unemployed back into the workforce. The Fed fears it has exhausted its arsenal.</b> “It is too awful to think about what will happen in the next recession, so nobody does,” said Mr Achuthan.</i></span></div>
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CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-39486231360592087042014-05-31T20:39:00.000-06:002014-05-31T20:39:00.008-06:00<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b>Ever Wonder How the US Spends it Money?</b></span><br />
<span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;"><b><br /></b></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Ever wonder how are tax/borrowed dollars are spent. The chart below lays it out pretty simple.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Once again I got this from a really good site that I strongly recommend that you visit. </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">http://www.connectthedotsusa.com/</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">The following slide can be seen at: http://www.connectthedotsusa.com/images/FavSlides/FedBudget/FederalSpending.jpg</span><br />
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<img src="http://www.connectthedotsusa.com/images/FavSlides/FedBudget/FederalSpending.jpg" />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-85570892863229897052014-05-31T20:38:00.000-06:002014-05-31T20:38:25.324-06:00<b style="background-color: white; color: blue; font-family: Arial, Helvetica, sans-serif; font-size: x-large; line-height: 20.032320022583008px;">Are We Going to See Higher Inflation Any Time Soon - </b><br />
<b style="background-color: white; color: blue; font-family: Arial, Helvetica, sans-serif; font-size: x-large; line-height: 20.032320022583008px;">Probably Not - Part 2</b><br />
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<span style="background-color: white;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="color: #303030;"><span style="line-height: 20.032320022583008px;">Below is the April monthly summary from the American Institute of Economic Research about about inflation. Once again this is an excellent summary from the AIER about the current state of the economy and inflation. Basically, we are probably not going to see a rapid increase any time soon. The basic dynamics to drive higher inflation (higher money supply) are not in place. </span></span></span></span><br />
<span style="background-color: white;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="color: #303030;"><span style="line-height: 20.032320022583008px;"><br /></span></span></span></span><span style="background-color: white;"><span style="font-family: Arial, Helvetica, sans-serif;"><span style="color: #303030;"><span style="line-height: 20.032320022583008px;">The article is in italics and the bold is my emphasis. From the <a href="https://www.aier.org/research/strong-dollar-dampens-inflation?utm_source=June+2014+IR+to+PROSPECTS&utm_campaign=June+2014+IR+PROSPECTS+&utm">AIER</a>:</span></span></span></span><br />
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<span style="background-color: white; color: #303030; line-height: 20.032320022583008px;"><span style="font-family: Arial, Helvetica, sans-serif;"><i>In the debate over the risks associated with quantitative easing, inflation hawks point to the massive build-up of reserves in the banking system as a potential source of inflationary pressure. Inflation doves counter that despite the massive build-up of reserves over the past few years, inflation has remained below the Fed’s target of two percent a year, a somewhat unexpected result. </i></span></span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Similarly, economic theory suggests that substantial reserve creation should push the dollar’s value downward versus other currencies. Yet the dollar has strengthened generally over the past few years, another unexpected result. Surprising or not, the stronger dollar is an important factor in keeping a lid on inflation.</i></span></div>
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<strong><span style="font-family: Arial, Helvetica, sans-serif;"><i>Strong Dollar Benefits</i></span></strong></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>As the U.S. dollar strengthens against the currencies of its trading partners, it takes fewer dollars to purchase imported goods, and the prices of imported goods into the U.S. tend to fall. The lower-priced imported goods then tend to put downward pressure on the prices of competing domestically-produced goods. </i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>Over the past twelve months, the U.S. dollar has risen by about one and a half percent against a broad, inflation-adjusted, trade-weighted basket of foreign currencies. Over that same period, the U.S. import price index has declined about 0.3 percent. Since movements in the dollar tend to lead movements in import prices by about two months, the dollar’s recent rise suggests flat-to-lower import prices in the coming months (Chart 1).</i></b></span></div>
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<img src="https://www.aier.org/sites/default/files/Files/Images/Research/4179/IR20140601_chart1.jpg" /></div>
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<span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.54em;"><i>While the broad economy benefits from lower-priced imports in general, the Consumer Price Index (CPI) is most affected by imported consumer goods, both autos and non-auto goods. Like the broader import price index, the import price indexes for autos and non-auto consumer goods are strongly and inversely correlated with the value of the dollar—that is, they are sensitive to dollar movements. As a result, we know that import prices for autos and non-auto consumer goods, in particular, are likely to be very tame over coming months (Chart 2).</i></span></div>
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<img src="https://www.aier.org/sites/default/files/Files/Images/Research/4179/IR20140601_chart2.jpg" /></div>
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<strong><span style="font-family: Arial, Helvetica, sans-serif;"><i>Imports and Consumers</i></span></strong></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Consumer spending totaled about $11.8 trillion at an annual rate in the first quarter of 2014, accounting for roughly 68 percent of total gross domestic product (GDP) of $17.1 trillion, in nominal terms. Within consumer spending, outlays on goods totaled $3.9 trillion at an annual rate, or approximately one-third of total consumer expenditures. During the same period, imports of autos and non-auto consumer goods <span style="line-height: 1.6em;">totaled $843 billion at an annual rate, the equivalent of around 22 percent of total consumer spending on goods (Chart 3).</span></i></span></div>
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<strong><span style="font-family: Arial, Helvetica, sans-serif;"><i>Competition and Productivity</i></span></strong></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>The net effect of a strengthening dollar and lower-cost imports of consumer goods is downward pressure on core consumer goods prices. Domestic manufacturers are pushed to respond to the lower-cost imports by restraining their own costs of production in order to remain competitive. Slow wage gains over the past several years have helped domestic manufacturers remain competitive, but as labor markets tighten, that influence may wane. </i></b></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>On a positive note, while labor costs may begin to see upward pressure, productivity gains could also accelerate, keeping unit labor costs in check. Over the past two years, productivity gains have slowed to around 2.2 percent, a percentage point below the longer-term trend growth of about 3.3 percent (Chart 4). As output growth slowly accelerates—and as competition intensifies, technological innovation continues, and capital spending rises—it’s likely that productivity growth will move higher. Higher productivity growth will help to restrain costs and keep price increases moderate.</i></span></div>
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<img src="https://www.aier.org/sites/default/files/Files/Images/Research/4179/IR20140601_chart4.jpg" /></div>
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<strong><span style="font-family: Arial, Helvetica, sans-serif;"><i>Sharp Divergence</i></span></strong></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Lower-cost imports and relative productivity gains are two key reasons for a sharp divergence in the price behavior of core consumer goods and core consumer services. Over the last twenty years, the two major components of core consumer prices show very different patterns. While both categories have seen decelerating price increases, called “disinflation,” the pattern has been much more pronounced in core goods prices. In fact, core goods prices have experienced periods of outright price decreases, or “deflation.” Core goods price inflation currently is trending about flat, while core services price inflation remains above the Fed’s two percent target for overall inflation (Chart 5).</i></span></div>
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<img src="https://www.aier.org/sites/default/files/Files/Images/Research/4179/IR20140601_chart5.jpg" /></div>
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<strong><span style="font-family: Arial, Helvetica, sans-serif;"><i>Monthly Inflation Measures</i></span></strong></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>The CPI rose 0.3 percent in April, the largest monthly increase since June 2013. Over the past twelve months, the total CPI has risen 2.0 percent, in line with the Fed’s long-run target. Food and energy were among the main contributors to the April gain, rising 0.4 percent and 0.3 percent, respectively. Over the 12-month period through April, food prices have gone up 1.9 percent while energy prices have jumped 3.3 percent. </b>The year-over-year rise in energy prices over the past year is largely due to a 77 percent annualized increase in gas utility prices over the January-to-March 2014 period.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i><b>The CPI excluding food and energy rose 0.2 percent in April and has increased 1.8 percent over the past year (Chart 6). As already discussed, the primary sources of inflationary pressure have come from core consumer services.</b> The largest contributors to core services price increases in April were: housing, up 0.2 percent in April and 2.8 percent over the past year; hospital services, up 0.5 percent in April and 6.1 percent over the past twelve months; motor vehicle insurance, up 0.9 percent in April and 4.4 percent year over year; and college tuition, up 0.4% in April and 4.0 percent for the year.</i></span></div>
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<img src="https://www.aier.org/sites/default/files/Files/Images/Research/4179/IR20140601_chart6.jpg" /></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Among core goods, weak pricing power was evident in: household furnishings, down 0.3 percent for the month and down 2.3 percent for the year; apparel, flat for April and up just 0.6 percent for the year; transportation-related goods, up 0.3 percent for the month but up just 0.1 percent for the last twelve months; recreational goods, unchanged in April and down 2.3 percent over the past year; and information technology goods, down 0.1 percent in April and down 5.9 percent for the year.</i></span></div>
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<strong><span style="font-family: Arial, Helvetica, sans-serif;"><i>Demand and Supply</i></span></strong></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Demand for consumer goods continues to be supported by ongoing modest gains in jobs, wages, and total personal income. Average hourly earnings have risen 1.9 percent over the past year; when combined with an increase in payrolls and lengthening average workweek, the wages and salaries portion of personal income has been rising at a 3.7 percent annual rate.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>Consumer credit growth has rebounded from the period of sharp contraction that began in early 2009. Overall consumer credit has been growing at greater than a five percent rate, on a year over year basis, since August 2012, a run of 20 consecutive months. However, nearly all the gains have come from non-revolving credit, particularly auto and education loans. Revolving consumer credit, primarily credit cards, has been growing at a very meager 0.8 percent annualized rate over the past two and a quarter years (Chart 7).</i></b></span></div>
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<img src="https://www.aier.org/sites/default/files/Files/Images/Research/4179/IR20140601_chart7.jpg" /></div>
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<span style="font-family: Arial, Helvetica, sans-serif; line-height: 1.54em;"><i>The income and credit gains have translated into rising retail sales in general and rising auto sales in particular. Retail sales have gained 4.0 percent over the past twelve months, while unit auto sales have held above the 15 million-annual-rate mark for 18 consecutive months.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>On the supply side, industrial production is up 3.4 percent for the twelve months through April, though the gain for manufacturing is a milder 2.9 percent. Consumer goods manufacturing has gained a modest 2.4 percent over the past year.</i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Total business inventories have increased 4.7 percent over the past year, while retailers have grown stocks by 6.1 percent. When compared to current selling rates, the total business inventory-to-sales ratio came in at 1.30 months—equal to the average of the prior three months, though up from a low of 1.25 months hit in April 2011. Retailers’ inventory-to-sales ratio has moved up to 1.42 months in March from a low of 1.34 months in February 2012, though the March reading was down from 1.45 months in January. In general, a falling inventory-to-sales ratio suggests tighter supplies of goods.</i></span></div>
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<strong><span style="font-family: Arial, Helvetica, sans-serif;"><i>Final Word</i></span></strong></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><b><i>Consumer prices overall are firming in response to improving economic fundamentals. However, the strong dollar promotes lower-priced imported consumer goods, which in turn foster competition that helps to restrain goods price increases. But offsetting inflationary pressures continue, emanating from food, energy, and certain areas of core services.</i></b></span></div>
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<span style="color: blue; font-family: Arial, Helvetica, sans-serif;"><i><b>Looking ahead, the build-up of reserves in the banking system presents the risk of upward inflation pressure. But other factors—including soft credit demand, restrictive lending practices, and the slow-growth economic environment—seem unlikely to support a sustained inflation surge over either the short- or intermediate-term time horizons.</b></i></span></div>
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<span style="font-family: Arial, Helvetica, sans-serif;"><i>Taken together, these countervailing forces suggest continued modest inflation ahead.</i></span></div>
CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0tag:blogger.com,1999:blog-7701961675026519639.post-8326256217168143772014-05-27T14:28:00.000-06:002014-05-27T14:28:04.214-06:00<b><span style="color: blue; font-family: Arial, Helvetica, sans-serif; font-size: large;">Who Holds the US Debt?</span></b><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">Below is a chart showing who holds the US National Debt. The numbers are from the end of the year, but things have not changed that much in the last five months. About 2/3s of our debt is owed to ourselves if you throw in the Fed. In terms of foreign countries China holds the most at about 7.75% of our National Debt followed by Japan at about 7.1%. The Social Security Administration holds about 16.5% of our debt. </span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">I found this chart at a really interesting website called http://www.connectthedotsusa.com/. I strongly recommend that you visit this site for some interesting perspectives on our current economic and financial situation. In addition to the individual slides the author has some fairly well written presentations.</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;">From <a href="http://www.connectthedotsusa.com/images/FavSlides/FedBudget/DebtWhoHoldsIt.jpg">http://www.connectthedotsusa.com/images/FavSlides/FedBudget/DebtWhoHoldsIt.jpg</a>:</span><br />
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<img src="http://www.connectthedotsusa.com/images/FavSlides/FedBudget/DebtWhoHoldsIt.jpg" />CSF -http://www.blogger.com/profile/10255430214625947312noreply@blogger.com0