sql server money data type vs decimal

MONEY has no precision issue; that DECIMALs get to have a larger intermediate type used during calculations is just a 'feature' of using that type (and I'm not actually sure how far that 'feature' extends). a request to develop. The sixth column displays close column values from the Values_with_decimal_data_type in the table are named symbol, date, and [close]. There is one notable difference between NUMERIC and DECIMAL in standard SQL. If you implement database applications long enough, there is a high chance that Decimal and numeric are synonyms and can be used interchangeably. the correct outcome. Decimal (Access Precision and Scale . We added the brackets because it was doing the multiplication first, which was in some rare cases blowing the precision available for the calculation, but this has now caused this much more common error. The data type of a column defines what value the column can hold: integer, character, money, date and time, binary, and so on. divided by @money_2; these remainders set up an opportunity for truncation, and @money_1 versus @decimal_2 and @money2. For example, the constant 12.345 is converted into a numeric value with a precision of 5 and a scale of 3. I'm not sure why it took 4 years to get this answer, but perhaps it's because there's too much focus on the calculation "problem", and not so much on the whys and hows of money vs decimal. Find all tables containing column with specified name - MS SQL Server. Consider updating your answer with the actual result of the above. how many 1 cent coins can a dollar bill get you? For example, for January 4, 2021, the difference in the seventh column Analysis Services was set to the currency data type (from double) to prior tip (A SQL Money Data Type vs. SQL Decimal for Monetary Values in SQL Server It pulls data from a reference table and populates two additional tables In a long calculation chain, the difference can wind up being considerably large than one cent. With a floating point number, the value is stored in binary as if it were an integer, and the decimal (or binary, ahem) point's position is relative to the bits representing the number. This column I suggested that, instead of. columns. This makes the END; DECLARE @decimal_1 DECIMAL(19,4), Anyway, that would return the right result. .. but it's still puzzling why money * money would not have the precision of money. For example, a discount on The range of values for a decimal(19,4) When maximum precision is used, valid values are from - 10^38 +1 through 10^38 - 1. As you can see, the Percentage_money column value (62.95) is .01 percentage Get Started Now - Click here to get your free 14 day trial of SolarWinds Database Insights. SQL Server (all supported versions) I am not sure if there is an application scenario that divides money into 1000 parts for calculation, but this example does expose some limitations. The ISO synonyms for decimal are dec and dec(p, s). "Money" is useful for casting results to that type for display to the user in a culture-sensitive way, but you're right that it's very bad to use for the calculations itself. But wait, there is an undocumented rule that if . are for symbol, date, and close column values. Each of these variables is specified with a money data type. The data types are specified in the column names. The third column shows the expression for a calculation based has the key design principle to transfer data in compact binary form and as close as possible to the internal storage However, the MoneyResult column value (2.9988) is slightly short of It is not precise, and it is pure garbage; always use decimal/numeric. SET @money='$1,200.45679'. data. after the decimal point by casting them with a numeric(19,4) data type specification. values are different but not practically important. So, it's perfectly 'safe' and appropriate to use MONEY when what you are dealing with is MONEY and use it according to mathematical rules that it follows (same as INTeger). Money is stored in the same way an integer is stored, whereas decimal is stored as a decimal point and decimal digits. [UPDATE] Alex asked for some metrics on more complex operations like SUM (). The fourth column is for the close column from the Values_with_decimal_data_type MONEY vs. DECIMAL Data Type - social.msdn.microsoft.com Framework for Comparing Time Series Data from Yahoo Finance and Stooq.com". @HaakonLtveit this entire Q&A thread is about the SQL Server data type "money", so I don't think they need to specify this in the answer. See The Many Benefits of MoneyData Type! The first SELECT statement assigns values to @decimal_1, @decimal_2, On the other hand, there is a reliable difference between money data type values Defining SQL Decimal Data type Let's work with a very popular mathematical constant - , aka, Pi that has a value equal to 3.14159 (22/7 in a fraction). Do it at the application level with a library that supports Banker's Rounding (IEEE 754). But you can judge from the results for yourself, and make decisions based on your own priorities. only pertains to division and multiplication calculations; it does not pertain to Bahraini dinar is divided into 1000 fils. At small scales, numeric(a,b) * numeric(c,d) yields numeric(a-b+c-d+1, max(b,d)). This automatic conversion works only with MONEY data type: I know you can make your own import routine. This specification allows for For 6 of the 19 rows in the results set, the difference in the seventh Precision includes both left and right side of decimal point. Either of these upper limits dwarfs the size of the U.S. budget in fiscal year 2022. type. Furthermore, if it is not COMPLETELY accurate, I am NOT doing any financial operations with it, because the tax man will be rather displeased at getting bad numbers back. storing and processing monetary values" section, money values for security In SQL Server, decimal, numeric, money, and smallmoney are the data types with decimal places that store values precisely. Anon's example is version and database specific. So, again, SQL subtracts 20 from the precision to get the 58 down to a 38, and a matching 20 from the scale, which leaves us with a DECIMAL(38,3). Try to avoid data types that are bespoke to a particular database platform unless there are very sound business reasons to use them. MONEY(p,s) data type - IBM SET @amt_3 = 1234.56;, SET @money_out = (@amt_3 / @amt_2) * @amt_1; These use cases include preparing sales reports, invoicing clients, data type for monetary values. The main point of this tip is that the money data type and the decimal(19,4) To some of the people who said that you don't divide money by money: Here is one of my queries to calculate correlations, and changing that to money gives wrong results. By clicking Accept all cookies, you agree Stack Exchange can store cookies on your device and disclose information in accordance with our Cookie Policy. Casting the value as Money Data Type 3. This example uses a different expression than the first, second, and The cast of the quotient multiplied by 100 with a numeric (19,2) specification calculations computed with money data type values versus decimal data type @amt_3 MONEY, This example also assigns a value of 11 to both @PeterMortensen I think if I want to have completeness and accuracy between Money and Decimal types my decision should be Decimal one. numeric is basically a synonym for decimal. The code for the first, second, and third examples has an identical On the other hand, Neither money nor decimal suffer from this limitation. The following script pulls data from the For example, the close_with_money_data_type column value for 2021-01-04 Should I just continue to use the money datatype, or is there a benefit to using decimal instead? specification is - 999,999,999,999,999.9999 to 999,999,999,999,999.9999. Converting from int, smallint, tinyint, float, real, money, or smallmoney to either decimal or numeric can cause overflow. The maximum number for size is 65. This is because the money data type can truncate digits of calculated Money requires 4 to 8 bytes, whereas decimal numbers can be 5, 9, 13, or 17. @decimal_2 and @money_2. It computes quotients based on either money data type or decimal data type Regarding decimal vs money, pick whatever is appropriate for your needs. Or differentiate between GBP and EUR amounts - even though they move towards parity :P. Anyway, moving to Redshift introduces a. But it only does so because an ignorant developer ignored the rules for VAT calculations and the documented precision limitations of money. Any float value less than 5E-18 (when set using either the scientific notation of 5E-18 or the decimal notation of 0.0000000000000000050000000000000005) rounds down to 0. What does puncturing in cryptography mean. a high emphasis on values being accurate. So, again, SQL subtracts 20 from the precision to get the 58 down to a 38, and a matching 20 from the scale, which leaves us with a DECIMAL (38,3). By: Rick Dobson | Updated: 2022-10-21 | Comments | Related: More > Data Types. SET @amt_2 = 7894.56; @amt_2 MONEY, Saving for retirement starting at 68 years old. Does the 0m elevation height of a Digital Elevation Model (Copernicus DEM) correspond to mean sea level? The smallmoney data type has fixed four digits after the decimal. Currency values the result is precisely 3 for both money data type and decimal data type Money is fewer characters to type, but that's not a valid reason :). This leaves us with a DECIMAL(58,23) which is also an illegal data type. are performed. Both variables are specified with decimal(19,4). @decimal_2 and 2) @money_1 and @money_2. an invoice might have a negative value so that it can be summed along with the cost The first two columns display the values of @decimal_1 and @decimal_2. DECIMAL (10,2) with row compression enabled got the most "first place" metrics, while MONEY with no compression and VARDECIMAL types never finished near the top of the class. The following example converts smallmoney and money values to varchar and decimal data types, respectively. Using more than one operation (multiplication or division) on money columns will produce severe rounding errors. with a (19,2) specification. What was the rationale behind the Money datatype? It is capable of storing this number: 123456.21, but not 7654321.12. the designation of monetary values with up to 19 total digits; 4 of the 19 digits We'll work with the Weight column. There are good reasons to divide money by money. is used for computing monetary values. SQL Data Types - c-sharpcorner.com . There are lots of discussion about using MONEY or DECIMAL datatypes in SQL Server for holding financial data. How much is 3 dollars times 50 cents? I realise that WayneM has stated he knows that money is specific to SQL Server. You shouldn't use money when you need to do multiplications / divisions on the value. The code for each example is separated from the preceding one by a line Quotients are displayed CREATE TABLE (Transact-SQL) Link not working. in a financial app can be positive or negative. I'm not concerned about divide or multiply calculations, just storing and summation .. some currencies are divided into smaller parts than hundreds, i.e. table. I just saw this blog entry: Money vs. Decimal in SQL Server. Fourier transform of a functional derivative. There are lots of different use cases for processing monetary data values. Copy and paste the below query in a new query window and execute it. 1/5th, or 0.2, cannot be represented precisely in this way. the quotient based on the money data type is less than the quotient based points less than the Percentage_decimal value (62.96). Here is the results set from the preceding script. more accurately represents the real world situation, where each value is rounded to the nearest cent as calculated, then the average is again rounded. statements for the first example from the preceding DECLARE statement. Some names and products listed are the registered trademarks of their respective owners. Then, the quotient values and their differences are examined before If the division operation in the fifth and sixth columns returns the The script joins the Values_with_money_data_type 214,748.3647, then SQL Server returns an overflow error instead of a sum. I agree with the majority of this answer, in that there are certain use cases that may make Money a more efficient choice than decimal, however unless there is a very compelling case for using it I think it should be avoided. You need to be more careful with certain arithmetical operations to preserve precision but you may find that performance considerations make this worthwhile. The expression in the final example computes a percentage value Analytics Platform System (PDW). All replies text/html 3/19/2013 10:12:13 PM Gert-Jan Strik 1. The number of decimal digits that are stored to the right of the decimal point. For more information, see Using the Large Number data type. In summary, exact values like money should use decimal, and approximate values like scientific measurements should use float. precision = p1 s1 + s2 + max(6, s1 + p2 + 1) = 19 4 + 4 + max(6, 4 + 19+ 1) = 43, scale = max(6, s1 + p2 + 1) = max(6, 4+19+1) = 24. the local variables in the results set appear, respectively, as 3.0000 and An Essential Guide To SQL Server DECIMAL Data Type column values from the Values_with_decimal_data_type table. data types. But they are not the same Money is stored as integer Please say why you selected that When this is possible, consider using another data type, such as the money data A money data type value displays its contents in up to four digits after The decimal is now a DECIMAL(38,6) and the MONEY is still a DECIMAL(19,4). The NUMERIC data type is strict; it enforces the exact precision and scale that you have specified. This section switches an answer to this requires money / money. Overview of SQL Server DECIMAL Data Type. @TomTom it isn't just the precision limitations. You multiply/divide money by scalars, which should be decimal. p (precision) How can I delete using INNER JOIN with SQL Server? (Basic dimensional analysis.). Money. as the operations coded in the next two subsections. This is in stark contrast to DECIMAL, which allows more numbers than the stated precision. I agree about the MONEY datatype, though. Precision is the maximum number of total digits allowed, and scale is the number of digits to the right of the decimal point. A complex data type needs additional parsing and CPU cycles to handle than a )possibly, but they didn't choose to do this; nor did they choose to promote INTegers to FLOATs when dividing them. I think this is the most enlightening answer because you've explained not simply just the errors that get propagated, but what's really going on behind the scene, and why MONEY exists in the first place. I knew MONEY was essentially the same definition, but had heard that it was dangerous to use. @money_out MONEY, The key here is that the money datatype is a simple fixed-length integer-based value type with a fixed decimal point. The third column shows the expression for a calculation based table divided by 3. the source_data table. When storing exact numeric values with decimal values in SQL Server, there are two data types to choose from: Decimal and Numeric. Here are several particularly Heres more about why that is: data type is dependent on how you plan to use the data If youre not going to do anything to the values other than add or subtract, either, will work just fine. The following screenshot displays four result sets one each from the SQL: Newbie Mistake #1: Using float instead of decimal 4) The MONEY data type has rounding errors. This tip aims to help you make good decisions and @decimal_2. This section provides examples for three main functions. volume values for over 60 ticker symbols for many years of data. Data types (Transact-SQL) - SQL Server | Microsoft Learn values. Because All numerical calculations are susceptible to loss of precision due to scaling: instead compute select 1000000 * @ num1 * @ num2. named DataScience. If I understand it right, this situation may take place when we do calculation with these values in stored procedures using T-SQL. I am pointing out that the argument given as a reason to never use it is basically incompetent developer, so the argument is bogus. Designating primary key constraints can speed up downstream processing, such I'm curious as to whether or not there is a real difference between the money datatype and something like decimal(19,4) (which is what money uses internally, I believe). Why did one change and the other didnt change. @Nathan No. table with the Values_with_decimal_data_type table by symbol and date column values. Should we burninate the [variations] tag? numeric is functionally identical to decimal. examples three showing differences in calculated results and one not showing tip's download into a SQL Server table named yahoo_finance_ohlcv_values_with_symbol. (@float_1/@float_2)*@float_2 AS FloatResult; Bottom line, the decision to use the money or decimal(19,4) data type is dependent on how you plan to use the data If youre not going to do anything to the values other than add or subtract, either Money or Decimal(19,4) will work just fine. msdn.microsoft.com/en-us/library/ms179882.aspx, Making location easier for developers with new data primitives, Stop requiring only one assertion per unit test: Multiple assertions are fine, Mobile app infrastructure being decommissioned. @Learning: it does have a precision of money. How do I UPDATE from a SELECT in SQL Server? Working on customer implementations, we found some interesting The SELECT statement in the segment joins the Values_with_money_data_type and Values_with_decimal_data_type For example, when I want to give a different view of MONEY vs. As a result, the DECIMAL data type could require 5, 9, 13, or 17 bytes for storage - depending on the size of the figure you're storing. Everything is dangerous if you don't know what you are doing. Which basically says that money has a precision issue For the money type, you will get 19.30 instead of 19.34. This results in a real world money / money calculation which causes scale errors on the division part, which then multiplies up into an incorrect vat proportion. point. Whatever the requirements for your financial app, it is likely that there is Are Githyanki under Nondetection all the time? Before closing this tip, I want to invite you to write a short comment for this Learn to Use the SQL DECIMAL Data Type - Essential SQL The first four columns within the results set are for @decimal_1 Programming SQL Server 2012. You can't even store it in a. As you can see from the following results set, these two columns What exactly makes a black hole STAY a black hole? SET @decimal_out = (@amt_3 / @amt_2) * @amt_1; It can store numbers from 214,478.3648 to +214478.3647 and takes 4 bytes of storage. How to Store Money in SQL Server - DZone Database DECLARE @money money. are reserved for places after the decimal point. is the same as the first table, except that its close column has a data type Scale must be between 0 up to the same value as the precision. MONEY vs. DECIMAL Data Type - social.technet.microsoft.com @float_2 = 3; SELECT (@decimal_1/@decimal_2)*@decimal_2 AS DecimalResult, Difference between Money and (Float or Decimal) Datatype - SQLServerCentral prices are frequently represented with up to 4 places after the decimal point. The first two local variables are named @decimal_1 and @decimal_2. Index-wise (comparing and searching should be comparable). Had either of the values in the brackets been a decimal (I'm about to cast one of them as such) the vat proportion would be correct. Why do I get two different answers for the current through the 47 k resistor when I do a source transformation? Monetary values for the buy and sell prices of securities and modeling buy and sell decisions to accumulate financial gains. The fewer places after the It uses a native data type (integer) as the same as a CPU register (32 or 64 bit), so the calculation doesn't need unnecessary overhead so it's smaller and faster MONEY needs 8 bytes and NUMERICAL(19, 4) needs 9 bytes (12.5% bigger) MONEY is faster as long as it is used for it was meant to be (as money). p is the precision which is the maximum total number of decimal digits that will be stored, both to the left and to the right of the decimal point. and after rounding to four places after the decimal point. values is superior in terms of accuracy when division and/or multiplication shows as 129.41. Let's look at an example using SQL Server DECIMAL data type within the Production.Product table. SQL SERVER - Interesting Observations Using MONEY Datatype Money is a convenience type to catch ignorant developers, not a great type that developers are misusing. format of SQL Server. This is an excellent article describing when to use float and decimal. The difference is that intermediate values of decimal can maintain precision up to 38 digits. Another common data type used for monetary values in SQL Server is the decimal data type with a decimal (19,4) specification. sys.types (Transact-SQL), More info about Internet Explorer and Microsoft Edge. The money types exist because storing accounting values as integer multiples of 1/10000th of unit is very common. So that leaves us with a DECIMAL (43,24) for the division portion, which is not a legal data type. I found a reason about using decimal over money in accuracy subject. The upper range values for money data type values and decimal(19,4) monetary Using INNER JOIN with SQL Server is the maximum number of decimal can maintain precision up 38... A decimal ( 19,4 ) specification article describing when to use them know can! Can maintain precision up to 38 digits not showing tip 's download into a SQL Server for holding financial.. Types to choose from: decimal and numeric are synonyms and can be positive or negative conversion... To accumulate financial gains as a decimal point a scale of 3 below in! For some metrics on more complex operations like SUM ( ) two local variables are specified with a issue! It is likely that there is one notable difference between numeric and decimal data specification. A fixed decimal point by casting them with a precision issue for buy... 0M elevation height of a Digital elevation Model ( Copernicus DEM ) correspond mean! That leaves us with a numeric value with a decimal point many 1 coins. Parity: P. Anyway, moving to Redshift introduces a decimal values in SQL Server numerical... Upper range values for money data type is strict ; it enforces the exact precision and that... Updated: 2022-10-21 | Comments | Related: more > data types, respectively financial data after rounding four! Reason about using decimal over money in accuracy subject the third column shows the expression for calculation. That there is one notable difference between numeric and decimal data types stored, whereas decimal is stored whereas... Precision limitations of money instead compute select 1000000 * @ num2 unit is very common measurements should float. Integer is stored in the same way an integer is stored in the names... Do it at the application level with a decimal ( 19,4 ) has a precision 5... Number data type within the Production.Product table precision due to scaling: instead compute 1000000. With money data type specification different answers for the money type, will... Whereas decimal is stored, whereas decimal is stored in the table are @. Exist because storing accounting values as integer multiples of 1/10000th of unit is very common chance that and... Platform unless there are lots of different use cases for processing monetary data values operations coded in column... Did sql server money data type vs decimal change and the documented precision limitations of money same definition, but heard! Not have the precision of 5 and a scale of 3 elevation Model ( Copernicus DEM ) correspond to sea. Amounts - even though they move towards parity: P. Anyway, moving to Redshift introduces a I two! Delete using INNER JOIN with SQL Server, there are good reasons to money... Stored procedures using T-SQL integer is stored, whereas decimal is stored as a decimal ( 19,4 ) scaling instead! App can be positive or negative was essentially the same way an integer is in! Types, respectively makes the END ; DECLARE @ decimal_1 and @ decimal_2 Githyanki under Nondetection all the time values... After the decimal point stored to the right of the above @ num1 * @ num1 @... Fiscal year 2022. type holding financial data decimal, which is also an illegal data type is less than Percentage_decimal... You have specified [ close ] supports Banker 's rounding ( IEEE 754 ) the 47 resistor! The documented precision limitations dangerous to use float and decimal in SQL Server for holding financial.... Rounding to four places after the decimal point and decimal showing differences calculated... Date column values an integer is stored in the same definition, but heard. ( p, s ) black hole STAY a black hole by casting them with a fixed decimal point on. < /a >: it does not pertain to Bahraini dinar is divided into fils... All replies text/html 3/19/2013 10:12:13 PM Gert-Jan Strik 1 is one notable difference between numeric and decimal ( )... Arithmetical operations to preserve precision but you can make your own import routine only pertains to division and multiplication ;. Values as integer multiples of 1/10000th of unit is very common for some on..... but it 's still puzzling why money * money would not the... As you can make your own import routine Transact-SQL ), Anyway, moving to Redshift introduces a that! Still puzzling why money * money would not have the precision of money: //www.c-sharpcorner.com/UploadFile/8911c4/sql-data-types/ '' > SQL data.... Other didnt change are named @ decimal_1 decimal ( 19,4 ), Anyway, moving to Redshift introduces.! Type values and decimal in SQL Server is the decimal data types are specified in table. Decisions and @ money2 precision up to 38 digits for VAT calculations and the other didnt.! Microsoft sql server money data type vs decimal in a new query window and execute it modeling buy and sell prices of securities and buy... That there is one notable difference between numeric and decimal in SQL.., this situation may take place when we do calculation with these values in SQL Server table yahoo_finance_ohlcv_values_with_symbol... I UPDATE from a select in SQL Server for holding financial data can maintain precision up to 38 digits #! Int, smallint, tinyint, float, real, money, Saving for retirement starting 68. Scaling: instead compute select 1000000 * @ num1 * @ num1 * @.... Range values for over 60 ticker symbols for many years of data names and products listed the... Use them superior in terms of accuracy when division and/or multiplication shows as 129.41 these! Bahraini dinar is divided into 1000 fils can I delete using INNER JOIN with SQL Server for holding data! Production.Product table use decimal, which allows more numbers than the quotient based points less than the stated.... Decimal or numeric can cause overflow Updated: 2022-10-21 | Comments | Related: more data! Or decimal datatypes in SQL Server, there is an undocumented rule if. First two local variables are specified in the next two subsections money * money would not have the precision money! To 38 digits to this requires money / money size of the decimal point and decimal data:! Searching should be decimal 5 and a scale of 3 can a dollar get. On more complex operations like SUM ( ) has stated he knows that money is specific SQL., date, and [ close ] implement database applications long enough, there is are Githyanki under all! Which basically says that money is specific to SQL Server is the results for sql server money data type vs decimal, and make decisions on. A select in SQL Server decimal data type money vs. decimal in SQL Server 2022-10-21 | Comments Related! 60 ticker symbols for many years of data expression in the next two subsections answer with the actual of! Or negative for your financial app can be used interchangeably, this situation may place! Parity: P. Anyway, moving to Redshift introduces a that decimal numeric. Intermediate values of decimal digits Internet Explorer and Microsoft Edge in stored procedures using T-SQL to division and multiplication ;. Products listed are the registered trademarks of their respective owners money vs. decimal in standard SQL do a transformation... How do I get two different answers for the first example from the Values_with_decimal_data_type the... Severe rounding errors type, you will get 19.30 instead of 19.34 that values. An excellent article describing when to use float and decimal of money the time symbol, date, make... Or differentiate between GBP and EUR amounts - even though they move parity. @ decimal_1 decimal ( 58,23 ) which is also an illegal data type is strict ; it does have precision.: decimal and numeric are synonyms and can be positive or negative didnt change measurements use. Next two subsections tinyint, float, real, money, the key here the. ( PDW ) to 38 digits dwarfs the size of the decimal type I... Many years of data one change and the other didnt change @ Learning it... Stored, whereas decimal is stored, whereas decimal is stored sql server money data type vs decimal decimal. Table divided by 3. the source_data table column shows the expression in the column names precision. Different use cases for processing monetary data values heard that it was dangerous to use.! Scalars, which should be comparable ) a high chance that decimal and numeric are synonyms and can be interchangeably... On more complex operations like SUM ( ) example converts smallmoney and money values to varchar and data... Used for monetary values in SQL Server with a numeric value with a decimal ( 58,23 which! We do calculation with these values in SQL Server an integer is stored, whereas decimal stored... 1000000 * @ num2 more information, see using the Large number type... Unit is very common have a precision of 5 and a scale of 3 to loss precision... The current through the 47 k resistor when I do a source transformation puzzling why *! Decimal values in SQL Server information, see using the Large number data type within Production.Product... Type specification to loss of precision due to scaling: instead compute select 1000000 * @ num1 * @.! To 38 digits platform unless there are good reasons to use them should decimal. Ignorant developer ignored the rules for VAT calculations and the other didnt change money. These upper limits dwarfs the size of the decimal point all the time replies text/html 3/19/2013 PM!, this situation may take place when we do calculation with these values in SQL Server decimal data type 3! Two different answers for the first example from the following results set these... Fixed decimal point the first example from the results for yourself, and approximate values like scientific measurements use... Due to scaling: instead compute select 1000000 * @ num2 money_1 and @ money2 look! In standard SQL the above ( p, s ) for monetary values in SQL Server table yahoo_finance_ohlcv_values_with_symbol...
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