1BYECMD = echo bye 2LATERCMD = echo later 3TEST1 :sh = echo hello 4TEST2 :sh = ${BYECMD} 5TEST3 = ${LATERCMD:sh} 6 7all: 8 @echo "TEST1=${TEST1}" 9 @echo "TEST2=${TEST2}" 10 @echo "TEST3=${TEST3}" 11