When evaluating projects with positive NPV but different life spans,the proper technique to employ is the equivalent annual cash-flow approach.

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The equivalent annual cash-flow approach is the proper technique to use when evaluating projects with different life spans because it allows us to compare the projects on an equal basis by calculating their annual cash flows. This approach takes into account the time value of money and provides a way to determine which project is the best investment based on its net present value (NPV) per year. Therefore, the statement is true.

When Evaluating Projects with Positive NPV but Different Life Spans,the