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Ratings depend on how many channels (speakers) are used (and several other factors). I believe that 145w rating is for one channel / 1 kHz / 10% distortion / 6 ohms. The most meaningful rating is 80 watts per channel through 2 channels / 20 - 20,000 hz / 0.09% distortion / 8 ohms. I believe the 260w tag you saw is the power supply.
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