Let [tex]\varepsilon > 0.[/tex] Assume the existence of a [tex]\delta > 0[/tex] such that [tex]0 < |x-1| < \delta.[/tex] Then
[tex]\left|\frac{1}{x} - 1\right| = |x-1|\cdot\frac{1}{|x|} .[/tex]
The |x-1| term already has a bound, so we need some bound on 1/|x|. Suppose that [tex]\delta \leq 1[/tex] so that
[tex]|1| - |x| \leq |1-x| < \delta \Rightarrow |x| > 1 - \delta \Rightarrow \frac{1}{|x|} < \frac{1}{1-\delta}.[/tex]
This implies that
[tex]\left|\frac{1}{x} - 1\right| = |x-1|\cdot\frac{1}{|x|} < \frac{\delta}{1 - \delta}.[/tex]
Requiring this last expression on the right to be [tex]\leq \epsilon,[/tex] we find that setting
[tex]\delta = \min(1, \frac{\varepsilon}{\varepsilon + 1})\mbox{ ensures that } \left|\frac{1}{x} - 1\right| < \varepsilon.[/tex]
Note: We chose delta to be less than or equal to 1 to make it easier to find a bound for 1/|x|, but we could have picked a number smaller than 1. Any number a > 1 would not work, since this would imply that |x-1| < a which would mean that x is in (1-a, 1+a) and since 1-a < 0 < 1 + a, division by zero could occur.
Note: Plugging in epsilon = .07 gives the delta you were looking for.