Expansion versus replacement cash flows Tesla Systems has estimated the cash flows over the 5-year lives for two projects, A and B. These cash flows are summarized in the following table. contents of the data table below into a spreadsheet.) Project A Project B Initial investment $4,651,000 $1,544,000* Year Operating cash flows $569,000 $384,000 931,000 384,000 1,354,000 384,000 2,233,000 384,000 3,396,000 384,000 *After-tax cash inflow expected from liquidation 4 a. If Project A, which requires an initial investment of - $4,651,000, is a replacement for Project B and the $1,544,000 initial investment shown for Project B is the after-tax cash inflow expected from liquidating it, what would be the net cash flows for this replacement decision? b. How can an expansion decision such as project Abe viewed as a special form of a replacement decision? Explain. a. Calculate the relevant cash flows for this replacement decision: (Round to the nearest dollar.) Year Relevant Cash Flows $ $ 1 2 $ 3 4 5 $ $