Capitol Corp. management is expecting a project to generate after-tax income of $47,990 in each of the next three years. The average book value of the project’s equipment over that period will be $261,410. If the firm’s investment decision on any project is based on an ARR of 37.5 percent. (Round answer to 1 decimal places, e.g. 5.2%.) What is the project’s accounting rate of return? Should the firm accept this project?