eBook Project S requires an initial outlay at t = 0 of $13,000, and its expected cash flows o would be $4,500 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $36,000, and its expected cash flows would be $10,800 per year for 5 years. If both projects have a WACC of 14%, which project would you o recommend? Select the correct answer. O a. Both Projects S and L, since both projects have IRR's > 0. b. Project L, since the NPVL > NPVS. O c. Both Projects S and L, since both projects have NPV'S > 0. d. Neither Project Snor L, since each project's NPV NPVL