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A parallel computational method, amenable for efficient hardware-level implementation, is described. It provides a simple and fast algorithm for the evaluation of polynomials, certain rational functions and arithmetic expressions, solving a class of systems of linear equations, or performing the basic arithmetic operations in a fixed-point number representation system. The time required to perform the computation is of the order of m carry-free addition operations, m being the number of digits in the solution. In particular, the method is suitable for fast evaluation of mathematical functions in hardware.