There's a balance to be struck with an automatic. On the one hand, tromping it raises the engine RPM's, which wastes fuel. On the other hand, the engine is most efficient near wide open throttle, and the closer you get to closed throttle the less efficient it is.
The balance I've found for most ~4L engines with automatic transmissions is to accelerate as hard as possible while keeping the revs around 2K, or 2.5K for looser torque converters that are usually equipped in 4WD and AWD transmissions.
Also, accelerating to 45 instead of 40 may yield more benefits, if it is possible to do. Most automatic transmissions will lock the torque converter at 45, dropping engine RPM's substantially.
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