ANDS - I think slide 9 from the link below would have saved you the time that you spent on the calculator:) Clearly they are using a number different from n to calculate the EVR though the slides don't appear to give a good reason for that. http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzgzNjYwfENoaWxkSUQ9Mzg0OTE4fFR5cGU9MQ==&t=1