16. Which approach enables an investor to compare the returns from different investments by creating a common time reference through finding the present value of all cash flows? a. Net present value (NPV) or a version of NPV b. Marginal analysis c. Present value of a terminating periodic series d. Present value of a non-terminating periodic series 17. Suppose you must choose between several investments with unequal lives, but all can be repeated. To rank the projects you should use which of the following? a. Equal annual equivalent (EAE) b. Net present value (NPV) c. Internal rate of return (IRR) d. Payback period