What I Ignored
The calculation also assumes that newspapers are 100% recyclable, which is not particularly true. You can vary the degree of "recyclability" and determine what it would take to save trees accordingly.
I also ignored the energy and economic costs associated with growing, cutting, and processing live trees to make pulp and newspapers, as compared with costs for recycling (it ain't free, folks).
Including such factors would be a nice student project as well. Gotta leave something for you to do!