Evaluating projects with unequal lives RTE Telecom Inc. is a U.S. firm that wants to expand its business internationally. It is considering potential projects in both Italy and Thailand, and the Italian 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 Thai project after three years. These projects are mutually exclusive, so RTE Telecom Inc.'s CFO plans to use the replacement chain approach to analyze both projects. The expected cash flows for both projects follow: Project: Year 0: Italian -$975,000 $350,000 $370,000 Year 1: Year 2: Year 3: $390,000 $320,000 Year 4: Year 5: $115,000 Year 6: $80,000 Project: Thai Year : Year 1: -$520,000 $275,000 $280,000 Year 2: Year 3: $295,000 If RTE Telecom Inc.'s cost of capital is 12%, what is the NPV of the Italian project? $186,325 O $208,246 O $197,285 $219,206 Assuming that the Thal 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 12%, what is the NPV of the Thal project, using the replacement chain approach? $285,288 O $271,703 O $258,118 O $298,873