Let me first begin this with a disclaimer to the fact I would not consider myself an expert,but here are a couple of my thoughts.
Some race gas already is mixed with ethanol,in particular I believe the unleaded varieties are.
So I would think that a relatively small percentage would be possible.
As long as you establish if there were any present in the original fuel to begin with.
There might be some fine tuning to iron out a slight change in the fuel curve but it should not be impossible to get it right.
Some info on this site
VP fuels.
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