It has always struck me as strange that almost all compilations of K-values include tapered (conical) reducers but very seldom include standard pipe reducers when in actual plants you will see MANY more standard reducers than you will ever see conical ones. Even the very practical and comprehensive Crane 410 manual ignores standard pipe reducers.
The article "Calculate Head Loss Caused by Change in Pipe Size" by William B Hooper, published in Chemical Engineering, Nov 7, 1988, pgs 89-92 does give a correlation specifically for standard reducers. But Hooper includes the caveat "The correlation given in the table looks reasonable, but no published data are available for checking its accuracy".
Hooper is the developer of the "2K" method. Traditionally K-values are assumed to be constant for a given type of fitting, irrespective of size or flowrate. The "2K" method is aimed at correcting the K values of various fitting for varying size and flowrate.
Hooper's correlation for standard pipe reducers in "reducing mode" is
K = (0.1 + 50/Re)((D/d)^4 - 1)
D is upstream diameter (larger diameter)
d is downstream diameter (smaller diameter)
Re is Reynolds number in upstream pipe (diam = D)
When used in "expanding mode" Hooper recommends that you assume a sudden expansion.
This correlation in "reducing mode" will give less friction than a conical reducer, so if you want to be conservative use the conical reducer K-value. It depends on the purpose of your calculation.
My catalog does show a 24"x14" reducer as being a standard, but I would expect them to be hard to come by. If you are going to make up a compound reducer (e.g. 24"x18" plus 18"x14") then you are going to introduce additional turbulence and losses. In this case it might be better to simply assume K=1, but as stated above, it depends on the purpose of your calculation.
Be careful with your h calculation - remember that (V1-V2)^2 is not equal to V1^2 - V2^2.