The discussion focuses on calculating the components and errors of an AC voltage waveform comprising a fundamental voltage of 100V rms at 120Hz, along with 3rd and 5th harmonics. The voltage waveform is expressed as v(t) = (141.4sin(240∏t)) + (28.3sin(720∏t)) + (14.1sin(1200∏t-1.2)). Participants discuss how to sketch the waveforms of these harmonic components and determine the voltage at 20ms, which is calculated to be approximately 96.88V. The percentage error compared to the ideal voltage is debated, with calculations suggesting an error of around 16.5%. The conversation emphasizes the importance of using appropriate values and methods for accurate waveform representation and error calculation.