With one caveat, yes. Keep in mind that 40x30 is 4:3 ratio, and your sensor is 3:2 ratio. If you want actual edge-to-edge on 40x30, you'll have to crop the image from the camera, which will reduce the overall resolution. Some quick scribbling says you'll wind up at ~ 275 DPI instead of 300 DPI-- there are tools now that can do a remarkable job of recovering that resolution, but you'll want to start with as high a quality image as possible, given that you'll produce a "slightly" soft image for the final product.
I think if I were you, I'd pay to have one image printed from your equipment at the desired size, and see if it meets your expectations.