Nick,
The truthful answer is I don't know what the backward impedance into the FCV-295 is. As you probably already know that there are quite a few elements that are figured into a transducers "Impedance" value, like Parallel Resistance/Capacitance, Parallel Conductance/Susceptance, Series Resistance/Reactance, Phase angle and others. All these values change with frequency also.
If I had a Simrad machine with a Combi transducer I could put an O'scope on the sounders output to measure the VP-P that was being transmitted, unfortunately I don't.
Just know that the TAP settings are a course output power adjustment with the "A TAP" being the lowest. The FCV-295 also has a 1-10 output power control in the TX/RX menu which you can further reduce the sounder TX output power. So at this point I would rather ping the transducer will a little less power than to over drive it and take the risk of damaging it.
Snips