The data is received after N LMFC periods and before N+1 LMFC periods so the min deterministic latency is T plus one LMFC plus the fixed input delay at the FPGA and the fixed output delay at the DAC:
TLAT = (T + LMFC) + TTXIN + TRXOUT
Substituting (N*LMFC - TTXLMFC + TRXLMFC) for T gives:
TLAT = ((N*LMFC - TTXLMFC + TRXLMFC) + LMFC) + TRXOUT + TTXIN
= (N+1)*LMFC - TTXLMFC + TRXLMFC + TTXIN + TRXOUT