Garage, Inc., has identified the following two mutually exclusive projects:
Year Cash Flow (A) Cash Flow (B)
0 -$ 29,700 -$ 29,700
1 15,100 4,650
2 13,000 10,150
3 9,550 15,900
4 5,450 17,500
At what discount rate would the company be indifferent between these two projects?