Crenshaw Enterprises has gathered projected cash flows for two projects.

Year	Project I	Project J
0	$255,000	$255,000
1	114,500	88,000
2	104,000	99,500
3	88,000	101,500
4	77,000	108,500

a.	At what interest rate would the company be indifferent between the two projects? (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?