Crenshaw Enterprises has gathered projected cash flows for two projects. Project I Project J -$ 253,000 -$ 253,000 114, 700 86, 800 103, 600 99, 300 87, 600 101, 300 76,600 108,300 Year 0 1234O 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? a. Interest rate b. Project I 15.00 %

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