Project S requires an initial outlay at t=0 of $19,000, 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 $32,500, and its expected cash flows would be $12,100 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 S nor L, since each projects NPV 0 c. Both Projects S and L, since both projects have IRR's >0. d. Project 5 , since the NPV > NPVL. e. Project L since the NPV L>NPV s