13. The replacement chain approach - Evaluating projects with unequal lives Evaluating projects with unequal lives Cold Duck Marulacturing Inc, is a U.S, firm that wants to expand its business internationally, It is considering potentia projects in both Germany and Mexico, and the German project is expected to take sik years, whereas the Moxican project is expected to take only three years. However, the firm plans to repeat the Mexican project after three years. These projects are mutually exdusive, so Cold Duck Manufacturing Incis Cro plans to use then replaoement dhain approach to analyze both projects. The expectod cash flows for both projects follown E