Yeah the most accurate drivetrain loss figure is probably 17.5%, I was over-estimating it a tad. But 17.5% would make a 200 crank horsepower engine put down around 165 horsepower. The whole specific percentage of drivetrain loss isn't 100% accurate and doesn't hold in every scenario, but gives a pretty general idea on crank horsepower versus wheel horsepower when comparing stock power levels versus modified power levels.
Yep, the 2004 3.0 Taurus Duratec engines made 240 crank horsepower. Crank horsepower is not affected by the drivetrain, only the wheel horsepower is. Horsepower at the wheels in the only number of the two that fluctuates as you transfer the same engine between different cars. Only if you're changing cylinder heads, upper intake manifolds, etc does the crank horsepower change, but otherwise with a full 3.0 motor, if it makes 240 crank horsepower in a Taurus, it makes 240 crank horsepower in a Contour, Cougar, Lamborghini Diablo, and Geo Metro. Swapping an engine from an automatic transmission to a manual transmission results in [/U]higher[/U] wheel horsepower. So going from an automatic Taurus to a manual Contour should gain just a few fwhp. Again, crank horsepower remains the same.
And based on the crank horsepower of 280 and following the 17.5% drivetrain loss figure, it would only require 231 fwhp to achieve 280 at the crank.

Again, the drivetrain loss percentage only holds so much water though, but if you use that figure that is the result you'll get.
By the way, just as an FYI you have the math slightly backwards. You can't take the whp estimate and multiply it by 1.18 or 1.175 to get the estimated crank horsepower. You have to take the estimated crank horsepower and multiply it by .82 (for 18% dt loss) or by .825 (for 17.5% dt loss). It makes a slight difference in your results, and the larger the numbers you're dealing with, the further off your calculation will be.