Bohemian Manufacturing Company is a u.s. firm that wants to expand its business internationally. It is considering potential projects in both Spain and Ukraine, and the Spanish project is expected to take six years, whereas the Ukrainian project is expected to take only three years. However, the firm plans to repeat the Ukrainian project after three years. These projects are mutually exclusive, so Bohemian Manufacturing Company's croplans to use the replacement chain approach to analyze both projects. The expected cash flows for both projects follow Project Spanish Year : -$800,000 Year 11 $380,000 Year 2 5400,000 Year 3: $420,000 Year 4: $375,000 Year 5 $110,000 Year 6 585,000 Project Year : Year 1 Year 2 Year 3: Ukrainian -$425,000 $175,000 $200,000 $210,000 If Bohemian Manufacturing Company's cost of capital is 10%, what is the NPV of the Spanish project? $451,198 $507,597 $563,997 $592,197 Assuming that the Ukrainian 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 10%, what is the NPV of the Ukrainian project, using the replacement chain approach? $115,114 $105,104 $100,099 $90,089