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Project S requires an initial outlay at t = 0 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 $29,500, and its expected cash flows would be $9,450 per year for 5 years. If both projects have a WACC of 16%, which project would you recommend? Select the correct answer. O O O O O a. Project L, since the NPVL > NPVS. b. Both Projects S and L, since both projects have NPV'S > 0. c. Neither Project S nor L, since each project's NPV 0. e. Project S, since the NPVS > NPVL