Question Apts Questions A9-A13 are based on the following information. Two projects have the same time to maturity of 5 years. The projects are mutually exclusive. Start-up costs are $20,000 for project (S) and $35,000 for project (L). Cost of capital is 10% for each project. Project (S) generates cash flows of $7,500 per year for 5 years. Project (L) generates cash flows of $9,500 per year for 5 years. All. If your decision criterion is NPV, which project would you choose at a cost of capital of 10%? (a) either one since their IRRs are both positive (b) project S since, NPVs > NPV (c) project L since, NPVs