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

1. (5) year graduation rate for the cohort using the following formula:

   1. (A) the number determined under STEP ONE; and

   2. (B) the number of students in the cohort who have graduated during the current reporting year.

      STEP THREE: Divide:

   3. (A) the sum determined under STEP TWO; by
   4. (B) the remainder determined under STEP THREE of the formula established in section 10(a) of this chapter.

   STEP ONE: Determine the number determined under STEP FOUR of the formula established in section 10(a) of this chapter.

   STEP TWO: Add:

As added by P.L.229-2007, SEC.5. Amended by P.L.159-2019, SEC.14.