explain please.

9. Projects S and L are equally risky, mutually exclusive, and have normal cash flows. Project S has an IRR of 15%, while Project L's IRR is 12%. The two projects have the same NPV when the WACC is 7%, which of the following statements is CORRECT? (3 points) a. If the WACC is 10%, both projects will have positive NPVs. b. If the WACC is 6%, Project S will have the higher NPV. c. If the WACC is 13%, Project S will have the lower NPV d. If the WACC is 10%, both projects will have a negative NPV. e. Project S's NPV is more sensitive to changes in WACC than Project L's