Handy Enterprises has gathered projected cash flows for two projects.

Year	Project I	Project J
0	$260,000	$260,000
1	114,000	91,000
2	105,000	100,000
3	89,000	102,000
4	78,000	109,000

Requirement 1:

At what interest rate would the company be indifferent between the two projects? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g.,32.16).)

Interest rate

%

Requirement 2:

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