Sec. 10.2. In the reporting year immediately following the determination of a cohort's four (4) year graduation rate under section 10(a) of this chapter, the department shall calculate a five (5) year graduation rate for the cohort using the following formula:
STEP ONE: Determine the number determined under STEP FOUR of the formula established in section 10(a) of this chapter.
STEP TWO: Add:
(A) the number determined under STEP ONE; and
(B) the number of students in the cohort who have graduated during the current reporting year.
STEP THREE: Divide:
(A) the sum determined under STEP TWO; by
(B) the remainder determined under STEP THREE of the formula established in section 10(a) of this chapter.