@the_bob
If your doubt is cleared then please let me know the reason too. What I believe is if there are synchronous transfer / constant clocking rate terms are used then we need to use max(d1, d2, d3) where d1, d2, and d3 is the delay of stages S1, S2, S3 because then we need to have constant transfer for all the stages. And if those above-mentioned terms aren’t used then consider time for each stage of instruction, then using summation and the required formula we can easily calculate as we have done in this problem. If I am wrong then please correct me.