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Project S requires an initial outlay at t = 0 of $18,000, and its expected cash flows would be $5,000 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $41,500, and its expected cash flows would be $8,300 per year for 5 years. If both projects have a WACC of 12%, which project would you recommend? Select the correct answer. a. Both Projects S and L, since both projects have NPV's > 0. 3 b. Both Projects S and L, since both projects have IRR's > 0. c. Project S, since the NPVs > NPVL, d. Project L, since the NPVL > NPVS. e. Neither Project Snor , since each project's NPV