Hodgkiss Enterprises has gathered projected cash flows for two projects.

Year	Project I		Project J
0	$	261,000	$	261,000
1		113,900		91,600
2		105,200		100,100
3		89,200		102,100
4		78,200		109,100

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.)

Interest rate %

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

(Click to select)Project IProject J