I need your help.   I'm not sure what questions to ask or where to even begin looking to solve this issue.
I use Bobcad V21 and Mach3 2.0.  I am trying to cut a simple round circle.  The G-code looks correct in both Bobcad and in Mach3 but the circles are not round.  They are off about a 1/16” on a 2” circle.  I noticed this when I started to cut out gears and they would not line up correctly, so I thought I would try just a std circle to see if I could identify the problem.  The X dimension is correct.  The Y dimension is correct.  It is the verticals that are off and causing it to be slightly oval.    
The frustrating part is that I used to be able to cut circles perfectly on this machine with this software.  I have changed nothing (as far as I can recall). 
Where should I start looking.
Here is the G code I tested with.
N1 G00 Z0.5
N2 X1.
N3 G01 Z-0.12 F50
N4 G03 I-1. J0.
N5 G01 Z-0.24
N6 G03 I-1. J0.
N7 G01 Z-0.36
N8 G03 I-1. J0.
N9 G01 Z-0.48
N10 G03 I-1. J0.
N11 G00 Z0.5