How to vectorize these nested for loops

for i=1:knum
    for j=1:knum 
     cp1(i,j)=max(pf(kgrid(i))+(1-depreciation)*kgrid(i)-kgrid(j),0);
     vp1(i,j)= log(cp1(i,j))+(beta*vp2(j));
    end 
end

How can I vectorize these 2 nested for loops?