Look in zone\client_mods.cpp
Here is where they calc the AC, but I don't see it either
around line 760
	Code:
	else {
//		mitigation = (spellbonuses.AC/4) + (GetSkill(DEFENSE)/3) + ((itembonuses.AC*4)/3);
		mitigation = GetSkill(DEFENSE)/3 + ((itembonuses.AC*4)/3);
		if(m_pp.class_ == MONK)
			mitigation += GetLevel() * 13/10;	//the 13/10 might be wrong, but it is close...
	}