Question: Consider the two projects whose end-of-year cash flows, in dollars, are shown in the table below. The cash flows in the column labeled 0 occur

Consider the two projects whose end-of-year cash flows, in dollars, are shown in the table below.

The cash flows in the column labeled 0 occur at the present time.

Years

0 1 2 3 4 5
Project 1 200 60 60 60 60 60
Project 2 150 46 46 46 46 46

At what annual rate of interest are the net present values of the two projects equal?

Please express your numerical answer in percentage form (not decimal) and round your answer to the nearest integer.

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