问题如下：
5. Are Robinson’s first two observations, respectively, correct?
选项：
A.Yes for both observations.
B.No for the first and Yes for the second.
C.Yes for the first and No for the second.
解释：
Robinson’s first statement is wrong. The value of an asset is the present value of its future cash flows. Economic income each year is the cash flow minus economic depreciation, EI = CF ED. For this company, which is declining in value each year, the economic depreciation is positive and EI is less than CF each year. Consequently, the present value of economic income (EI) will be less than the present value of future cash flows (CF). Robinson’s second statement is correct.
我听了老师的课件，我的理解是CF折现和EI折现都是计算项目/公司价值的方法，这是从不同角度来看待。两者计算出的结果可能是不同的，即：PV（CF）不一定等于PV（EI），但是根据各自计算结果得出的项目价值评估（即：是投资还是不投资）的结论是一致的，请问助教我的理解对吗？谢谢
