Consider the following two mutually exclusive projects:
Year Cash Flow (X) Cash Flow (Y)
0 –$ 23,000 –$ 23,000
1 10,490 12,000
2 10,900 9,360
3 10,500 10,400
What is the crossover rate for these two projects? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
