Topics to be Discussed a Stocks versus Flows Present discounted value ■ The va| ue of a bond a The net present value criterion for Capital Investment Decisions Chapter 15 Slide 2Chapter 15 Slide 2 Topics to be Discussed ◼ Stocks Versus Flows ◼ Present Discounted Value ◼ The Value of a Bond ◼ The Net Present Value Criterion for Capital Investment Decisions