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Default Help with a formula

I am new to Excel. Using Excel 2003. Need help with the following formula:
Cell I43
=If(B40="no",SUM(E16+I16+M16*2)*22+(I43*B42)+(I43* B43)+(I43*B44)
What I do know is that this is a circular reference. It is showing a value
of 535. The value I hoped to see was 518 (I manually did the math). Here is
the referenced cells and values:
Cell E16=10 I16=10 M16=0
Cell B40=no B42=10% B43=0% B44=7.75%
Is there another way to write this formula? Any help or suggestions will be
appreciated. Thanks
--
Lynn
 
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