Item Prices based on enchanting percentages

As a quick "I wanna know" type question, I have written a quick program to provide a first order price guide per 1 million gold what the value of an enchanted item should be. This guide does not take into account the cost of mana or the time taken away from hunting. So these would be low order numbers.
The formula used is very simple, hence first order only. (1/chance = value) iterate with value till chanted. 
189 Chant Line
Clean = 1 million: 1x=1.11111 M: 2x=1.23457 M: 3x=1.54321 M: 4x=3.08642 M: 5x=15.43210 M: 6x not available
204 Chant Line
Clean = 1 million: 1x=1.11111 M: 2x=1.23457 M: 3x=1.37274 M: 4x=1.741468 M: 5x=3.42936 M: 6x 17.146800M
Just a simple calculation send corrections or possible updates to FIVED or FIVES