On to step 2:
Figure the pattern.
rule 1: When completed, none of the original wood can remain.
So,
Calculate:
The "Columbian product" is 0.00713254693"
The soda can is0.003257397"
so, each layer will, clearly, be 0.0138994393, but don't forget we want to start and stop with a "Columbian product" so there MUST be an odd number.
Our kerf size is 1/8". BUT, is it REALLY?

EIGHT full layers and the extra one, plus the CA, should work out just perfectly........Don't you think?

?
(The snoring on my side of the phone line NEVER discouraged Eagle, I could always tell him APPROXIMATELY what he had said. Even at my BEST, I could never hope to do more than that!!!)
NOW< you ALL have the benefit of the starting calculations!!
Good Luck!
Ed
Will the bit be sharp enough to cut cleanly? OR will we need to make allowances for a slight angle to the sides of the cut??
For now, let's assume 1