Sunland Corp. management is considering purchasing a machine that will cost $117,250 and will be depreciated on a straight-line basis over a five-year period. The sales and expenses (excluding depreciation) for the next five years are shown in the following table. The companys tax rate is 34 percent.

		Year 1		Year 2		Year 3		Year 4		Year 5
Sales		$126,450		$178,875		$246,455		$260,440		$266,125
Expenses		$139,410		$132,488		$147,289		$145,112		$130,556

Sunland will accept all projects that provide an accounting rate of return (ARR) of at least 45 percent.

Calculate accounting rate of return. (Round answer to 1 decimal place, e.g. 15.2%.)

Accounting rate of return