Project S requires an initial outlay at t = 0 of $11,000, and its expected cash flows would be $5,000 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $34,000, and its expected cash flows would be $7,850 per year for 5 years. If both projects have a WACC of 15%, which project would you recommend? Select the correct answer. O a. Both Projects and L, since both projects have IRR's > 0. O b. Project L, since the NPVL > NPVs. O c. Neither Project Snor L, since each project's NPV 0. O e. Project S, since the NPVs > NPVL