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Well, its not a direct calculation, but in general most people say to estimate about 15% loss through the driveline for a manual car. It is near 20% for a automatic.

Of course people will dispute those percentages, some say manuals are only 10%, and autos higher... but it really depends on the type of chassis dyno you used.


So take your 295 hp and calculate what number, less 15%, gives you 295. (you should not take 15% OF 295 and add it to 295...because 295 is a result of 15% loss)
 

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Multiply it by 1.1765 to get 347fwhp. 347 x .85 = 295. To get a 15% margin, you mark it up by 17.65% because 15% of 100 equals 17.65% of 85.
 
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