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replace all and replace and find are very different. In the first case every search is run all matches are found and replaced. In particular it means that search 2 is run on the text after all replaces from search 1 are done. Similarly for search 3 it is run on text after all replacements from 1 and 2 are done and so on.
Whereas for replace and find, you are doing one replace then jumping to the first match from any of the searches in the remaining text.
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