Hodgkiss 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

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?