Handy Enterprises has gathered projected cash flows for two projects.

Year	Project I	Project J
0	$266,000	$266,000
1	113,400	94,600
2	106,200	100,600
3	90,200	102,600
4	79,200	109,600

Requirement 1:

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

Interest rate

%

Requirement 2:

Which project is better if the required return is above this interest rate?

(Click to select)Project IProject J