Shouldn't such things be calculated using the velocity of the bullet at the impact range? Art Alphin lists different ranges when discussing his penetration index. Why not for TKO? There is a difference.

For example:

338 Win Mag Federal, 225gr Trophy Bonded
TKO @ muzzle = 33
TKO @ 100yds = 30

9.3x74R Win Mag Federal, 286gr Barnes Banded
TKO @ muzzle = 35
TKO @ 100yds = 30

458 Lott Federal, 500gr Trophy Bonded
TKO @ muzzle = 75
TKO @ 100yds = 66

470 N.E. Federal, 500gr Trophy Bonded
TKO @ muzzle = 75
TKO @ 100yds = 63

Tools like TKO, MV, ME, and PI allow us to compare and contrast loads and cartridges. Values in one tool favor one load whereas values in another tool favor another load. Application to the "real world" is useful but limited. Effectiveness on game has to do with many factors, including bullet construction. For example, would it be better to shoot a bear with a soft nose .338 or a solid .458? Another example is the Paradox bullet. It has a high TKO but, because it is soft lead and will deform against hard targets, it does not conform to the "non-deforming" projectile used in Art Alphin's penetration index. Also, The Paradox bullet scores a whopping Thornily Stopping Power Scale value of 298 but, because of bullet construction, it is not recommended against "Hippopotamus, Rhinoceros, Cape Buffalo, or Elephant".

Still, just for fun,
.735 Fosbery Paradox bullet, 740gr lead
TKO @ muzzle = 81
TKO @ 100yds = 76