It's just a simple matter of calculating three numbers:
Rolling Resistance:
This is generally considered to have a linear relationship to weight. To find the resisting force, you simply multiply the Rolling Resistance Coefficient (RRC) by the vehicles weight. Here's a link to a list of LRR tires to give you an idea:
RRC
Aerodynamic Drag:
The aerodynamic drag is simply a function of CdA and the speed according to the following formula:
Drag = 1/2*rho*V^2*Cd*A
Where:
rho = .002378 (at sea level)
V = velocity (in feet/second)
Cd = (coeffient of drag)
A = frontal area (square feet)
Powertrain Losses:
Typically this would be 15% for a manual transmission.
For this particular case, I'd throw out a guess of 550 lbs operational weight, Cd of .10 and frontal area of 4 square feet. That works out to the following:
Drag = 1/2*rho*88^2*.10*4 = 3.7 lbs
RR = 550 * .005 = 2.8 lbs
hp = force*speed/550 = (2.8+3.7)*88/550 = 1.04 hp.
Factor in a drivetrain efficiency of 85% and you get 1.22 crank hp required.
Since all the above is really a bunch of guesses, I'd say it's easily less than 2.5 hp to maintain 60 mph on level ground.