How do I see what the shellcode replace is and what it does

I'm trying to see if there's anything malicious in the replacement for this shellcode, how do I decipher what this does to see if there's anything malicious inside?

perl -pi -e 's/\x03\x00\x85\xC0 \x74\x7A\xE8/\x03\x00\x85\xC0\xEB\x7A\xE8/g;' -e 's/\x20\x04\x00\x34\x61\x44\x00\x94/\x20\ x04\x00\x35\x61\x44\x00\x94/g' myapp