Hard Choice Inc. is considering the following two projects, which are mutually exclusive meaning the company can only take one. The cost of capital is 11.0%. 0 1 3 4 2 $300 $530 Project 1 Project 2 -$2,950 -$2,950 $160 $310 $400 $300 $400 $180 At what cost of capital are Hard Choice Inc. indifferent between the two projects? Note: This question will require Excel or a financial calculator. % (Round your answer to 2 decimal places in % term, e.g. 1.11%.)