Answer:
P = W / t definition of power
P = F s / t = F v t / t = F v power expended
v = 2 pi R f f = frequency = rev / sec (S = 2 pi R n = 2 pi R f t)
and v = S / t
P = F 2 pi R f = 47.3 lb * 6.28 * .741 ft * 7.42 / sec = 1630 ft-lb/sec
(1630 ft-lb/sec) / (550 ft-lb/sec / HP) = 2.96 HP