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Crenshaw Enterprises has gathered projected cash flows for two projects. Year Project 1 Project -$255,000 $255,000 O 1 2 3 4 114,500 104,000 88,000 77,000

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Crenshaw Enterprises has gathered projected cash flows for two projects. Year Project 1 Project -$255,000 $255,000 O 1 2 3 4 114,500 104,000 88,000 77,000 88,000 99,500 101,500 108,500 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? a. Interest rate b

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