There are too many unknown variables to compute. For instance, how many amps does the motor draw at 40% keeping in mind its not linear? The condition of the batteries, (group 27 are rated at 85-105 amps). Then you have to consider that your motor has a maximizer. When running wide open it basically does nothing, but at 40%, how much current does it save you? Useing guestimates like saying the motor draws 20 amps at 40%, I come up with the same you do, 2-2½ hours. Maybe Canepole can shed some better info on this.
Fair Winds and Following Seas
Bill H. PTC USN Ret
Chesapeake, Va