You can define the cash-flow break-even point as the sales volume (in dollars) at which cash flow equals zero. Assume a project has an initial cost and a 5-year life. a. Is the cash-flow break-even level of sales higher or lower than the zero-profit (accounting) break-even point? Higher Lower b. If a project operates at its cash-flow break-even point for its entire life, is its, NPV positive or negative? Positive Negative