What calculation is this and can it be done in a formula?

I realize this is a bit of a long-shot but I thought there may be no harm in asking!

We are currently using a Bloomberg terminal to convert numbers like: 116-01 3/4 to: 116.05468750
However, I'm not sure what calculation is occurring here to get the end number which we need. Therefore my question is-

Is anyone able to tell what calculation/conversion is happening to get from: 116-01 3/4 to 116.05468750? and can this be done on excel (eg. through a formula?)

Many thanks for any help! Apologies if this is a stupid question

Could you give one or two more examples of the original data and the number?

Sure! Please see 2 more examples below:

119-03 3/4 = 119.11718750

117-08 7/8 = 117.27734375

The fractions are 32nds:

01 3/4 = 1.75/32 = .0546875
08 7/8 = 8.875/32 = .27734375

How on earth did you manage to work that out!? o.o Thank you, that's extremely helpful!!

Glad I could help! I stumbled about in the dark for a bit, then tried subtracting the value for 01 3/4 from the value for 03 3/4 and ended up with 2 = .0625 = 1/16, so 1 = 1/32. Thanks for finishing off the formula, Ford, your formula ended up being about 1/7 the length of mine!