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Given that there are a minimum two ways to calculate the time value of money discounted and non-discounted cash flow analysis, isn't it better to

Given that there are a minimum two ways to calculate the time value of money discounted and non-discounted cash flow analysis, isn't it better to analyze projects requiring a large investment in capital assets using the discounted cash flow analysis rather than non-discounted cash flow analysis?

Why, or why not?

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