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I must be interpreting the 11.5.3 EV formula wrong. For example, at time 39, I have my formula performing (since Profit(40) > 0) do Profit(40)/(1.1) + Profit(39), where Profit = Distributable Earnings. I copied this formula all the way to time 1. Now what? I feel like I’m missing something. Any help is greatly appreciated!