Crenshaw Enterprises has gathered projected cash flows for two projects.

Year	Project I	Project J
0	$256,000	$256,000
1	114,400	88,600
2	104,200	99,600
3	88,200	101,600
4	77,200	108,600

a.	At what interest rate would the company be indifferent between the two projects? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
b.	Which project is better if the required return is above this interest rate?