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

b$.$ Which project is better if the required return is above this interest rate?Crenshaw Enterprises has gathered projected cash flows for two projects.

Year Project I Project J

$0$$ $264,000$$ $264,000$

$1113,60093,400$

$2105,800100,400$

$389,800102,400$

$478,800109,400$

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?