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    <td style="layout-grid-mode: line; text-align: justify; width: 95%">The maximum contractual life for any of the options is ten years. The Company uses the Black-Scholes model to estimate the value of stock options granted under FASB guidance. Because option-pricing models require the use of subjective assumptions, changes in these assumptions can materially affect the fair value of options.</td></tr>
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    <td style="layout-grid-mode: line; text-align: justify">A summary of option activity under all plans as of September 30, 2012, and changes during the six month period then ended is presented below:</td></tr>
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<td> </td>
<td>The maximum contractual life for any of the options is ten years. The Company uses the Black-Scholes model to estimate the value of stock options granted under FASB guidance. Because option-pricing models require the use of subjective assumptions, changes in these assumptions can materially affect the fair value of options.</td></tr>
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<td>A summary of option activity under all plans as of September 30, 2012, and changes during the six month period then ended is presented below:</td></tr>
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