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Again, please ask questions! Bay times and meetings will dedicate time for launchpad discussions, if you are new to embedded, this stuff may seem really confusing and we are here to help make it less daunting.
Bonus: As mentioned, the LED that is being blinked in this program is not on the board, its connected to a floating gpio pin. While I may get some setups myself for you to use, if you want to do a little breadboarding, feel free to setup your own breadboard (we have some in the bay) and connect an external LED (we will have some in the bay). You may need to do some EE math to figure out what resistor to use so that you don’t explode the LED :)