Where did ASME VIII div1 got its wall thickness theory from?

Hi all, just wanted to understand how ASME VIII arrive at the wall thickness equation for circumferential stress in UG-27 from?

I believe it is from the thin cyclinder theory, hoop stress = Pd/2t, i tried to back track on the equation from ASME, but i arrive at a equation like hoop stress = Pd/

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