Delay of game!!!!

[jaywilk]

My friends and I are going round and round on if a delay of game can be declined or not. Although it is a dead ball foul I believe that it can be declined. Situation: You are at the 40 yard line which is just out of your place kickers reach but not far enough back to really get a good placed punt. So you run out the play clock to get the five extra yards for your punter. I really believe that the defense can decline this so as the punter won't have a better angle and the five additional yards to place the ball inside the 20. Am i correct or not?