According to AU 350, the auditor should project the misstatement results of the sample from which the sample was selected. Assume the population of an account balance included 1,200 items. The auditor tested 80 items and discovered $2,900 in errors. Following the example in AU 350.26, project the sample misstatement to the population. If your materiality threshold were $45,000 for this specific account, would you accept the balance as fairly stated? Explain.