Transom cap trim

I argued with myself about this. Should the rub rail be installed first with the transom top trim running across it or do I install the transom trim first and run the rub rail past it? The second choice won out, not for looks, but I figured I'd let the rub rail take any abuse at the stern rather than the transom trim. The dark piece on the transom is walnut and the lighter rub rail is white ash. All will be painted.

Done