Consider two projects, T and F, which are mutually exclusive, have unequal lives, and are repeatable. Their cash flows are depicted in the table below:

Project	Year 0	Year 1	Year 2	Year 3	Year 4
T	-$105 million	$62 million	$62 million
F	-$105 million	$33 million	$33 million	$33 million	$33 million

Assuming a WACC of 7.5%, use the replacement chain approach (RCA) to compare the projects and pick the better choice, given repetition. Note that the investment in project T rises by 7% when repeated, but the other cash flows stay the same.

A) Project T is better as its NPV is higher by $89,657

B) Project T is better as its NPV is higher by $797,274

C) Project F is preferable without repetition, and T is preferable with repetition

D) Project F is better as its NPV is higher by $797,274

E) Project F is better as its NPV is higher by $89,657