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Despite the widespread deployment of IEEE 802.11 wireless local area network (WLAN) protocol, not much analysis has been done on modeling its performance. In this paper, we modify a previously introduced station model along with a channel model to deduce the channel throughput under finite load traffic. Our approach allows modeling of all system parameters like the channel state and the average service time of a frame. Although our model assumes a Poisson arrival process, the proposed approach could be easily extended to more general processes.