Not approximately. 14px at 1.7143 is exactly 24px; 16px at 1.75 is exactly 28px. The grid below is the real one, at the real spacing, and every row on this page sits on it.
The quick brown fox jumps over the lazy dog
12 / 20 · 2.5 baselinesThe quick brown fox jumps over the lazy dog
14 / 24 · 3 baselinesThe quick brown fox jumps over the lazy dog
16 / 28 · 3.5 baselinesThe quick brown fox
20 / 28 · 3.5 baselinesThe quick brown fox
32 / 40 · 5 baselinesGrid Bureau
64 / 64 · 8 baselines