Your company is considering starting a new project in either France or Mexico-these projects are mutually exclusive, so your boss has asked you to analyze the projects and then tell her which project will create more value for the company's stockholders. The French project is a six-year project that is expected to produce the following cash flows: Project: French Year 0: -$800,000 Year 1: $380,000 Year 2: $400,000 $420,000 Year 3: Year 4: $375,000 Year 5: $110,000 Year 6: $85,000 The Mexican project is only a three-year project; however, your company plans to repeat the project after three years. The Mexican project is expected to produce the following cash flows: Project: Mexican Year 0: - $530,000 $280,000 Year 1: Year 2: $290,000 Year 3: $310,000 Because the projects have unequal lives, you have decided to use the replacement chain approach to evaluate them. You have determined that the appropriate cost of capital for both projects is 9%. Assuming that the Mexican project's cost and annual cash inflows do not change when the project is repeated in three years and that the cost of capital remains at 9%, answer the following questions: The NPV of the French project is: $597,448 $627,320 $477,958 $537,703 The NPV of the Mexican project is: $372,770 $428,685 $335,493 $391,409