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Help me understand why award pricing is higher than expected (complex itin)

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I am holding an award itinerary which is US-MEX with a stopover. It is First Class and it is all on partner airlines (therefore all segments are at "low")

The itinerary is:

SEA-BLI-LAS stopover
LAS-MEX-CUN destination
CUN-MEX-GDL-SMF-SEA

While US-MEX in F is 60k, this is pricing out at 105k.

I should note that there is a long layover at SMF: arrive late at night and depart first flight in the morning, 7.5 hours later. I assumed that this was counting SMF as an extra stop, and therefore adding 45k for SMF-SEA. And so, I assumed that "last flight in and first flight out" no longer extends the acceptable layover duration, and I asked the agent what would happen upon removing the SMF-SEA segment entirely. In that case it is still pricing at 105k. I thought maybe this was creating an issue with open jaw + stopover (SEA-LAS, LAS-CUN, CUN-SMF) but this doesn't seem to raise issues normally, for myself and others. See here for examples.

Any thoughts on why I can't get them to price this at 60k? The agent and supervisor both understood my point, but couldn't provide an explanation for the discrepancy.

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