Crenshaw Enterprises has gathered projected cash flows for two projects.

Year Project I Project J

$0$$$251,000$$$251,000$

$1114,90085,600$

$2103,20099,100$

$387,200101,100$

$476,200108,100$

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

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