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I'd suggest against trying to figure formulas for ranging on different powers as it will probably be more confusing than helpful and sometimes scope power rings aren't 100% correct.
That's simply not true, and it amazes me that so many people still think it is. If your scope is set up to range at 10x, as most SFP variables are, then you simply divide your mils by the power divided by 10. So if you range at 18x, take 2 seconds and divide your mils by 1.8. This isn't some sort of approximation, it's exact. Also, you're not any more likely to be bang on 10x when ranging (unless there is a click stop for it) than you are for any other marked power setting on the scope. Ranging at 18x (or whatever your max power is) has the benefit of the target covering more of the reticle, which makes your mil reading inherently more accurate. If your scope ranges at some other power than 10x, simply make a table where you take all the marked powers on your scope power ring, divide them by the ranging power, and *bang* that's your correction factor.
Vern and I have been doing this with the FleaScope ranging at 18x, and I for one would never go back. If you have a FFP scope, it's not an issue, as pointed out above.
This question seems to come up about once a month.
Cheers,
--Hawk