Replacing currently published app with an upgraded version?

I apologize in advance because I know this had to have been answered somewhere, probably very explicitly, but, here I am.

Our company has a published app.

Things went well, but we need to update a couple things. It's been years, but we have the package keys/password to publish.

How do I replace the current application with the newer application?

Approvals aside...
a) Is there a 'replace' option?
b) Approve a new public channel and delete the old one through the developer portal?
c) Something else I'm not thinking of.

As the logos will likely be the same. Just addressing some internal corner-cases.

Thank you in advance.