Project S requires an initial outlay at t = 0 of $10,000, and its expected cash flows would be $4,000 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $49,500, and its expected cash flows would be $15,000 per year for 5 years. If both projects have a WACC of 14%, which project would you recommend? Select the correct answer O a. Both Projects 5 and L. since both projects have NPV's > 0. O b. Neither Project Snor L, since each project's NPV NPVL O d. Both Projects S and L, since both projects have IRR's > 0. O e Project L. since the NPV > NPVS