Project S requires an initial outlay at t = 0 of $14,000, and its expected cash flows would be $5,500 per year for 5 years. Mutually exclusive Project L require an initial outlay at t = 0 of $43,500, and its expected cash flows would be $12,450 per year for 5 years. If both projects have a WACC of 14%, which project would you recommend? Select the correct answer. O a. Neither Project Snor L, since each project's NPV NPVs. X O O O c. Project S, since the NPVS > NPVL. d. Both Projects S and L, since both projects have NPV's >0. e. Both Projects S and L, since both projects have IRR's >0