A manufacturer specializing in packaging materials is evaluating a new project that has a projected risk-adjusted return on capital (RAROC) of 15%. The financial environment provides a risk-free interest rate of 3% per annum and an anticipated market rate of return of 11% per annum. The firm has an equity beta of 1.8. Based on these parameters, determine whether the company should undertake the project by analyzing it through the adjusted risk-adjusted return on capital (ARAROC) metric.