Project S requires an initial outlay at t = 0 of $16,000, and its expected cash flows would be $4,500 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $39,000, and its expected cash flows would be $11,650 per year for 5 years. If both projects have a WACC of 14%, which project would you recommend? Select the correct answer. Oa. Project S, because the NPVS > NPVL- Ob. Both Projects S and L, because both projects have IRR's > 0. Oc. Project L, because the NPVL > NPVs. Od. Both Projects S and L, because both projects have NPV's > 0. Oe. Neither Project Snor L, because each project's NPV