[franknagaijr]

I think you need to multiply the 10% times the chip stack and calculate your equity based on that, and it will presumably be less than 7.72. I'm suggesting that if it was anywhere close to a coin flip, you would have been correct to put the last of the chips in. I'll think about this a little more over the next week and confirm.

BTW: If you've got Harrington 3, the ICM basics are walked through in problem 39 on page 257.

Congrats on making it through a large field.

EDIT: The correct way to solve this problem is as follows:

1) Calculate net worth if you win, chop or lose the hand.
2) Calculate percentage chances of winning and chopping and losing the hand.
3) Multiply the percent of winning times value if win, chop if chop, lose if lose and sum the three figures.
4) Compare this figure with your net worth if you fold on the flop.

Since the chance of chop/win is so small, the number will be painfully close to 7 I'm sure. It is a correct fold.