On the question of the advantability of using the discount rate of cash flows

The article presents a method for calculating the net present value without using a discount rate. The calculation is based on the definition that net present value is the final financial result of an investment project, which shows how much operating cash flows exceed investments and capital fees. The example shows that when using spreadsheets, there is no need to spend time justifying the calculation method and applying a discount rate to exclude the value of money from future cash flows, as this leads to averaging the calculation results. It is more expedient to determine the discounted cash flow in a direct way. To do this, it is necessary to calculate the absolute value of the payment for equity and borrowed capital for each of the forecast periods of time, and subtract the calculated values from the forecast cash flows.