OK, This was driving me crazy (very short drive, BTW), so I went & cut two 4 7/8" squares. Sewed a 1/4 seam on all 4 sides. Made 2 cuts from corner to corner, as I thought I saw in the attachment. The 4 HST came out at 3", so I stand by my calc ;-)
Except now that I re-read her post and look at the pic, I realize that I misunderstood what she was asking.
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