Cullumber 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 company's tax rate is 34 percent. Sales = year 1: $128,450 year 2: $172,875 year 3: $248,455 year 4: $252,440 year 5: $262,125. Expenses=year 1: $137,410 year 2: $130,488 year 3: $139,289 year 4: $142,112 year 5: $134,556. Cullumber will accept all projects that provide an accounting rate of return (ARR) of at least 45 percent. Calculate the accounting rate of return. (Round answer to 1 decimal place, e.g. 15.2%)