The intensity of light entering water is reduced according to the exponential equation

I = I ₀e^-kd

where I is the intensity d feet below the surface, I0 is the intensity at the surface, and k is the coefficient of extinction. Measurements in the Sargasso Sea have indicated that half of the surface light reaches a depth of 73.6 feet. Find k (to five decimal places), and find the depth (to the nearest foot) at which 1% of the surface light remains.