<p>The asset conversion rate is 12%. You’re missing the factor applied to adjusted available income, which is this:</p>
<p>Contribution from AAI ( $7,926 + 47% of AAI over $29,300).</p>
<p>47% of 12% is 5.64%.</p>
<p>AAI = (AGI - taxes - other allowances) + (assets - asset protection allowance) * 12%</p>