So I'm taking part in the NL beginner's course. I am now trying to work my way through the exam, but there's one problem. There's a couple of questions where you have to determine what implied odds you need to call. However, I don't recall ever having seen how this is done? Maybe I just forgot it or confused it with something else? I've seen an excel sheet in the coachings, but I have no idea how to calculate what exact implied odds we need. I know how to calculate the amount of money we need to extract by the river, but I don't think that's the same thing. What I'm thinking is this, but I'm not 100% sure.
Consider this situation:
CO $100
BU (Hero) $100
Hero has 5♥6♥
CO raises to $4, Hero calls, SB Folds, BB folds
Flop ($9.50): 3♣4♦A♠
CO bets $7, hero...
Now, we will make our straight 17% of the time (about 5:1). So we're not getting the right pot odds to call here directly. In fact, we're getting only 1.35:1. That means we need to extract $25.55 from villain by the river in order to call profitably.
Now, does that mean we should treat the pot as being $9.50 + $7 + $25.55 = $42.05? If so, that means we are getting 6:1 and have an easy call. However, I'm not sure if this is the right way to think about this.
Some input would be great 
