Look at the red below:
We do have some good questions on this such as:
- Difference between kerning vs letter spacing?Difference between kerning vs letter spacing?
- What is kerning and what is the point of it?What is kerning and what is the point of it?
The way I would come up with the kerning in this example is to use the given tracking. Example of this here:
Do note that the kerning is subjective in nature and is typically ones opinion. There are several articles on the subject but some would argue the best practice of choosing how to kern is to flip the type:
There is a great article on this called: "how to kern type perfectly"