Project S requires an initial outlay at t = 0 of $14,000, 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 $46,000, and its expected cash flows would be $10,600 per year for 5 years. If both projects have a WACC of 13%, which project would you recommend? Select the correct answer. a. Both Projects S and L, since both projects have NPV's > 0. b. Project L, since the NPVL > NPVS. c. Neither Project Snor L, since each project's NPV 0. O e. Project S, since the NPVs > NPVL