Project S requires an initial outlay at t- of $18,000, and its expected cash flows would be $6,500 per year for 5 years. Mutually exclusive Project L requires an Initial outlay at t = 0 of $37,500, and its expected cash flows would be $3,900 per year for 5 years. If both projects have a WACC of 16%, which project would you recommend? Select the correct answer OOO a: Project L, since the NPV > NPVS b. Neither Project Snor, since each project's NPV 0. d. Both Projects and since both projects have NPV's > 0 e. Project S, since the NPVs > NPVL