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Crenshaw Enterprises has gathered projected cash flows for two projects. Year 0 123 4 Project I -$ 267,000 113,300 106,400 90,400 Project J -$

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Crenshaw Enterprises has gathered projected cash flows for two projects. Year 0 123 4 Project I -$ 267,000 113,300 106,400 90,400 Project J -$ 267,000 95,200 100,700 102,700 79,400 109,700 a. At what interest rate would the company be indifferent between the two projects? Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16. b. Which project is better if the required return is above this interest rate? a. Interest rate b. %

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