15. The replacement chain approach - Evaluating projects with unequal lives Evaluating projects with unequal lives Savory Seafood is a U.S. firm that wants to expand its business internationally. It is considering potential projects in both France and Thailand, and the French project is expected to take six years, whereas the Thal project is expected to take only three years. However, the firm plans to repeat the Thal project after three years. These projects are mutually exclusive, so Savory Seafood's CFO plans to use the repiacement chain approach to analyze both projects. The expected cash flows for both projects follow: If Savory Seafood's cost of capital is 9%, what is the NPV of the French project? $271,916$299,108$285,512$231,129 Assuming that the Thai project's cost and annual cash inflows do not change when the project is repeated in three years and that the cost of capital will remain at 9%, what is the NPV of the Thal project, using the replacement chain approach? $374,634 $356,149 $309,695 $294,210