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I think there is only one N54 engine right now and it produces roughly 300hp and 300ft-lb. I think you're thinking of the N52 in the 128i, which will be the de-tuned 230hp version, the same one that's found in the 328i sedan and coupe. The 260hp version of the N52 is used mostly in the X3 and X5.
I think $45k for the 135i would be more than the market could bear. Based on the comments so far, I'm going to change my guess to $41k for the 135i and $33k for the 128i. There needs to be a significant cost differential between the two and you could still option out a 128i (even with the cost of BMW options) and still be $4k less than a base 135i. It all depends on what the equipment level will be for the base models.
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