er 11 End-of-Chapter Problems Question 2 of 4 Check My Work (1 remaining) Problem 11-11 Capital budgeting criteria: mutually exclusive projects Project S costs $11,000 and its expected cash flows would be $4,500 per year for 5 years. Mutually exclusive Project L costs $35,000 and its expected $10.700 per year for 5 years. If both projects have a WACC of 14%, which project would you recommend Select the correct answer. 1. Both Projects 5 and L, since both projects have NPVS > 0 11. Project L, since the NPVL > NPVS. III. Both Projects S and L, since both projects have IRR'S > 0. IV. Nelther Sor L, since each project's NPV NPV. . Check My Work (1 remaining) O leon Key o e hp