a Search this cod work Module 5 Homework Assignment Score: 60.00% Save Submit Assignment for Grading Problem 11.11 Capital Budgeting Criteria: Mutually Exclusive Projects) Ouestion 16 of 20 Check My Work (2 remaining) eBook Project S requires an initial outlay at t=0 of $13,000, and its expected cash flows would be $4,500 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t= 0 of $39,500, and its expected cash flows would be $12,950 per year for 5 years. If both projects have a WACC of 16%, which project would you recommend? Select the correct answer. a. Both Projects S and since both projects have IRR'S > 0. b. Project L. Since the NPV > NPVS. c. Both Projects S and L. Since both projects have NPV's >0 & d. Neither Project Snor L, since each project's NPV