Handy Enterprises has gathered projected cash flows for two projects.
Year Project I Project J
0 –$215,000 –$215,000
1 104,000 75,000
2 93,000 86,000
3 79,000 96,000
4 72,000 105,000
Requirement 1:
At what interest rate would the company be indifferent between the two projects? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
Interest rate: %