eBook Project Srequires an initial outlay at t = 0 of $11,000, and its expected cash flows would be $7,000 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t - 0 of $30,000, and its expected cash flows would be $13,700 per year for 5 years. If both projects have a WACC of 14% which project would you recommend Select the correct answer a. Project L. since the NPVL > NPVS b. Project S, since the NPVS > NPVU c. Neither Project Snor L, since each project's NPV 0. e. Both Projects S and L. since both projects have IRR's > 0