In Cost-Benefit Analysis O discounting should be performed on values expressed in nominal prices @ discounting should be performed on values expressed in real prices O discounting can be performed on values that are either in nominal prices or in real prices as long as the same method applies to costs and benents the adjustment for inflation is done after discountingIn investment appraisal, discounting is undertaken because: O prices are likely to be higher in the future O people generally prefer to have benefits today than in the future O prices are likely to be lower in the future O the future rate of inflation is unknown