Crenshaw Enterprises has gathered projected cash flows for two projects.

Year Project I Project J

$0$$ $260,000$$ $260,000$

$1114,00091,000$

$2105,000100,000$

$389,000102,000$

$478,000109,000$

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$.,32\mathrm{.}16.$

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