A firm with a WACC of 10% is considering the following mutually exclusive projects: 0 1 2 3 4 5 Project 1 -$300 $80 $80 $80 $240 $240 Project 2 -$400 $200 $200 $45 $45 $45 Which project would you recommend? Select the correct answer. I. Both Projects 1 and 2, since both projects have NPV's > 0. II. Both Projects 1 and 2, since both projects have IRR's > 0. III. Project 1, since the NPV1 > NPV2. IV. Project 2, since the NPV2 > NPV1. V. Neither Project 1 nor 2, since each project's NPV < 0.