Ja, them is inches... inches of ATF. 40 inches of ATF should be about 46" of water ("WC). (40/.87)46 / 27.7 = 1.66psi. So, the banjo outlet is handling ~1.7psi. 12/.87 = 13.8" of vacuum due to the tank means the IP out bolt orifice is actually outputting 59.8" WC of pressure, or 2.2psi... but the tank vacuum lowers the pressure in the fitting.