yay, you got it!

Congratulations for taking the time, step-by-step to work through your assumptions until you arrived at good solid answers. You sir have just placed yourself squarely above 50-80% of the posters on this forum in just this one thread.

Good luck in your future endevors, and never hesitate to ask for additional information on even the silliest question (after googling and reading a little on your own - then come here for the final test to see that your interpretation is close to right).