I think you are right.
Basically 14.2 quarts of water (roughly 3.5 gallons) of water heated to 162.5 degrees added to 11.38 lbs of grain will combine (in theory) to a temperature of 151 degrees.
Keep it at that temperature for 75 minutes
Then sparge with (whatever temp water the recipe called for, I forget cuz I cant see it right now)
and then stop when you get to whatever your pre-boil volume is supposed to be.
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