I solved the problem by solving for the time of the fall. I came up with a fall of roughly 59, 60 feet. Then when I went to solve for the time of that fall, I used 9.8 meters per sec per sec for acceleration and not 32 feet per second squared so my time came out roughly twice what it should have bee. The correct time of fall for the compact is roughly 1.9 seconds and the velocity of course is given by the square root of (2gh), or equivalently as I solved it acceleration X time or 32 x 1.9 gives 60.8 feet per second or 41.5 miles per hour give or take.
Obviously just solving for the square root of 2gh is the easiest most straight forward way, but I was looking to provide all of the details of the event, time of fall and so forth.
Thanks for pointing that out. Your first answer is also incorrect as I am sure you have by now realized.