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. (Click on the icon here e in order to copy the contents of the data table below into a spreadsheet.) Project A Project B Initial investment - $4,651,000 $1,555,000* Year Operating cash flows 1 $551,000 $380,000 2 930,000 380,000 3 1,353,000 380,000 4 2,216,000 380,000 5 3,396,000 380,000 *After-tax cash inflow expected from liquidation. a. If Project A, which requires an initial investment of - $4,651,000, is a replacement for Project B and the $1,555,000 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 A be viewed as a special form of a replacement decision? Explain