Project S requires an initial outlay at t = 0 of $10,000, 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 $35,500, and its expected cash flows would be $9,700 per year for 5 years. If both projects have a WACC of 14%, which project would you recommend? Select the correct answer. a. Neither Project Snor L, since each project's NPV NPVS. c. Both Projects S and L, since both projects have NPV's >0. d. Project S, since the NPVS > NPVL e. Both Projects S and L, since both projects have IRR's > 0. Hide Feedback Incorrect