Income is equal to the difference between the present value of the net assets at the end of the period and their present value at the beginning of the period, excluding the effects of investments by owners and distributions to owners is the definition of which of the following current value concepts?

Select one:

a$.$

Replacement cost

b$.$

Exit value

c$.$

Selling price

d$.$

Discounted present value

e$.$ The answer does not exist