Handy Enterprises has gathered projected cash flows for two projects.

Year	Project I	Project J
0	$253,000	$253,000
1	114,700	86,800
2	103,600	99,300
3	87,600	101,300
4	76,600	108,300

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? J or I