Bruin, Inc., has identified the following two mutually exclusive projects:

Year	Cash Flow (A)				Cash Flow (B)
0	$	30,000			$	30,000
1		15,400				4,800
2		13,300				10,300
3		9,700				16,200
4		5,600				17,800

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