Project S requires an initial outlay at t = 0 of $13,000, and its expected cash flows would be $4,500 per year for 5 years. Mutually exclusive Project L requires an initial outlay at t = 0 of $38,000, and its expected cash flows would be $8,900 per year for 5 years. If both projects have a WACC of 13%, which project would you recommend? Select the correct answer. O a. Both Projects S and L, since both projects have IRR's > 0. O b. Project L, since the NPVL > NPVS. C. Neither Project Snor L, since each project's NPV 0. e. Project S, since the NPVs > NPVL