Project S requires an initial outlay at t = 0 of $16,000, and its expected cash flows would be $5,000 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $35,000, and its expected cash flows would be $11,400 per year for 5 years. If both projects have a WACC of 15%, which project would you recommend? Select the correct answer. a. Project S, since the NPVs > NPVL. Ob. Both Projects S and L, since both projects have NPV's > 0. Oc. Neither Project Snor L, since each project's NPV 0. Oe. Project L, since the NPVL > NPVS