Ivanhoe 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. Year 2 Sales Expenses Year 1 $129,450 $140,410 $175,875 $131,488 Year 3 $239,455 $142,289 Year 4 $253,440 $139,112 Year 5 $265,125 $128,556 Ivanhoe will accept all projects that provide an accounting rate of return (ARR) of at least 45 percent. (a1) Calculate accounting rate of return. (Round answer to 1 decimal place, e.g. 15.2%.) Accounting rate of return %