A firm with a WACC of 10% is considering the following mutually exclusive projects: Select the correct answer. a. Both Projects 1 and 2 , since both projects have IRR's >0. b. Project 1 , since the NPV 11>NPV2. c. Neither Project 1 nor 2 , since each project's NPV NPV 1. 8. Both Projects 1 and 2 , since both projects have NPV's >0. Project s requires an initial outiay at t=0 of $16,000, and its expected cash flows would be $5,500 per year for 5 years. Mutually exclusive Project L requires an initial outiay at t= 0 of $37,500, and its expected cash flows would be $12,200 per year for 5 years. If both projects have a WACC of 16%, which project would you recommend? Select the cortect answer. 1. Both Projects S and L, because both projects have IRR's >0. b. Both Projects S and L, because both projects have NPV's >0. \& Neither Project 5 nor L, because each project's NPV NPVL e. Project L4 because the NPV > NPV