eBook Project S requires an initial outlay at t - 0 of $10,000, 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 $48,000, and its expected cash flows would be $9,550 per year for 5 years. If both projects have a WACC of 16%, which project would you recommend? Select the correct answer a. Project L, since the NPV > NPV- b. Both Projects and since both projects have NPV's > 0. c. Project 5, since the NPVs > NPVL. d. Neither Project Snor L, since each project's NPV 0 Hide Feedback Incorrect