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You are considering the following two mutually exclusive projects. The crossover rate between these two projects is ___ percent and Project ___ should be accepted if the required return is greater than the crossover rate.

Year	Project A	Project B
0	$36,000	$36,000
1	21,500	13,690
2	13,500	11,500
3	13,500	25,300

That is, to choose the project that has higher initial cash flows, you should choose Project A or B

2-

Harpeth Valley Water District has a bond outstanding with a coupon rate of 3.55 percent and semiannual payments. The bond matures in 22 years, with a yield to maturity of 4.11 percent, and a par value of $5,000. What is the market price of the bond?