Crenshaw Enterprises has gathered projected cash flows for two projects.

Year	Project I	Project J
0	$ 197,000	$ 197,000
1	95,500	72,600
2	87,600	77,800
3	65,200	81,400
4	59,800	87,000

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., 32.16.

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