Crenshaw Enterprises has gathered projected cash flows for two projects.

Year	Project I	Project J
0	$ 253,000	$ 253,000
1	114,700	86,800
2	103,600	99,300
3	87,600	101,300
4	76,600	108,300

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.

Which project is better if the required return is above this interest rate?