Project S requires an initial outlay at t=0 of $14,000, 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 $28,500, and its expected cash flows would be $9,250 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. Neither Project S nor L, since each project's NPV NVS. d. Both Projects S and L, since both projects have IRR's >0. e. Project S, since the NPVS >NN L