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"I am strapped into the capsule, and I am ready to go." Felix Baumgartner to Joe Kittinger in Mission Control #stratos #livejump
The acceleration due to gravity at this extreme height is not the standard value of 32.2 ft/s² (9.81 m/s²) but a slightly lower value around 31.9 ft/s² (9.72 m/s²). This value can be verified using the Atmospheric Properties Calculator.
Solving this equation with the values provided tells us that Kittinger's theoretical top speed is about 905 ft/s (275 m/s), or 615 mph (990 km/h). This answer is quite close to the top speed reported by Joseph Kittinger in his publications. We can also rearrange this relationship to solve for the altitude he would have had to jump from in order to reach 714 mph. In so doing, we find that the Excelsior balloon would have had to have been at an altitude of about 107,000 ft (32,600 m), or over 4,000 ft (1,300 m) higher than it actually was.