It is not uncommon for some of the projects in a set of mutually exclusive
public-works projects to have different lives. Recall from Chapter 6 that the AW
criterion can be used to select from among alternatives with different lives as long
as the assumption of repeatability is valid. Similarly, if a mutually exclusive set of
public-works projects includes projects with varying useful lives, it may be possible
to conduct an incremental B–C analysis by using the AW of benefits and costs of
the various projects. This analysis is illustrated in Example 10-8.