Hodgkiss Enterprises has gathered projected cash flows for two projects. Year 1 2 3 4 Project 1 -$265,000 113,500 106,000 90,000 79,000 Project 3 --$265,000 94,000 100,500 102,500 109,500 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) (Click to select) Project 1 Project