... present. A positive NPV for a project indicates the present value of the net gain corresponding to the project cash flows. 2. Equivalent Uniform Annual Net Value. The equivalent uniform annual net ... discounted benefits of all potential projects over the planning horizon are identical and therefore only the discounted costs of various projects need be considered. Therefore, the EUAC is an indicator ... Different Forms of Ownership 178 t for a investment project x where x = 1, 2, refer to projects No. 1, No. 2, etc., respectively. Let Ct,x be the annual cost at the end of year t for the same...