Or rather, why is there such a big discrepancy:
In CP's book, page 166, he says 5 lb of light malt extract/ 5 gallon would give a final gravity of 1.035 to 1.039, resulting in 3 to 3.5% ABV.
CP does not say if this is dry or liquid ME, but later on he says 1 lb of liquid ME/gallon should give an OG of 1.033 to 1.038 and dry ME gives 1.038 to 1.042
Tastybrew.com calculator says liquid ME would give 1.026 (2.5% ABV).
That is a big difference. What do you think?