Back to Assignment Attempts Keep the Highest/5 4. Problem 11.11 (Capital Budgeting Criteria: Mutually Exclusive Projects) ebook Project requires an initial outlayatt- of $20,000, and its expected the flows would 6.500 per year for years. Mutual exclusive Project requires an initial outly att of $40,000, and its expected cash flows would be $1,600 per year for years. If both projects have a WACC of 10% which project would you recommend? Select the correct answer Ca. Neither Project Snor, since each project's NPV 0 c. Project 5, since the NPVs >> NPV. d. Both Projects S and L, since both projects have IRR'S > 0 Ce, Project L, since the NPV > NPVS