Crenshaw Enterprises has gathered projected cash flows for two projects. Year 42340 1 Project I -$ 254,000 114,600 103,800 87,800 76,800 a. Interest rate b. Project J -$ 254,000 87,400 99,400 101,400 108,400 a. At what interest rate would the company be indifferent between the two projects? Note: 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? 2 %

Crenshaw Enterprises has gathered projected cash flows for two projects. a. At what interest rate would the company be indifferent between the two projects? Note: 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