Crenshaw Enterprises has gathered projected cash flows for two projects.

Year	Project I	Project J
0	$ 258,000	$ 258,000
1	114,200	89,800
2	104,600	99,800
3	88,600	101,800
4	77,600	108,800

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?