Project S requires an initial outlay at t = 0 of $13,000, and its expected cash flows would be $7,000 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $34,500, and its expected cash flows would be $14,200 per year for 5 years. If both projects have a WACC of 14%, which project would you recommend?