Crenshaw Enterprises has gathered projected cash flows for two projects. Year 87234 0 1 Project I -$ 257,000 114,300 104,400 88,400 77,400 a. Interest rate b. Project J -$ 257,000 89,200 99,700 101,700 108,700 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? %

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