Bingo @type12.
Be careful with your analysis here. When considering half-lives focus on the progression from one amount to another, not the number of starting and ending points per se.
The progression is 1 while you move from 2 numbers and there are 2 progressions in this example - one from 1/20 to 1/40 and the other from 1/40 to 1/80. So there are 2 half lives.