Well, to be fair you said your value ranged from 0 to 4096, that's 4097 "steps" ;-)
pc1 = CH1_PWM ** 1601
There WILL be rounding (or truncating rather) issues, yes.
pc1 = CH1_PWM ** 16004 is better and will give you the result in steps of 0.1% as show before.
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