You are considering two mutually exclusive projects, A and B.

Project A costs $100,000 and generates cash flows of $15,000 for 10 years.

Project B costs $75,000 and generates cash flows of $2,000 for seven years and then generates a cash flow of $115,000 in year 8.

Report rates in percentage form to two decimal places i.e. 10.03% not 10%

1. What is the highest discount rate in which you can still produce a non-negative NPV for at least one project?