Its a valid formula, but:
1. For a certified liquid trim valve, Kp always = 1.0, only for valves with older trim (older Farris models) is Kp required.
2. The part of your formula "27K" is actually derived from an ASME/API formula based on the manufacture's calculated Kd. In the API equation, this is replaced with the term "38*Kd". So if Kd is equal to 0.74 for a Crosby valve (for example), your K factor is equal to 38*0.74 = 28.14; which is what CROSBY shows in their engineering handbook:
A = GPM * SQRT(G) / 28.14 * Kw * Kv * SQRT(dP).
I have copied a segment from an excel program I wrote to size a relief valve. Technically, you should be able to take any vendor's equation and with manipulation obtain the formulas I am forwarding to you. Please be aware that it could contain typo's since I had to re-structure it after pasting.
"Begin Paste:
The following equations are used:
The equations may be used for either ASME or API area depending on the Kd used. For ASME area, Kd = 0.9*Kd determined by vendor.
For Gases and Vapors:
(1) Area Orifice = (W*SqRt(T*z)) / (Kd*C*P1*Kb*SqRt(M))
For Steam:
(2) Area Orifice = (W) / (51.5*Kd*P1*Kb*Ksh*Kn)
For Liquids
(where 23.56 = (38*K) if Kd is assumed to be = 0.62):
A. Standard Trim for ASME Non-Certified Liquid Capacity:
(3)Area Orifice = (Q*SqRt(G)) / (23.56*Kp*Kw*Kv*SqRt(P1-Pb))
Equation Requires P1=(1.25 * Set Pressure Ps in PSIG)+ 14.7
Kp factor adjusts for overpressure other than 25%
B. Liquid Trim for Certified Capacity at 10% Overpressure

Required for Valve Capacity per ASME Code in Liquid Service)
(4) Area Orifice = (Q*SqRt(G)) / (23.56*Kw*Kv*SqRt(P1-Pb))
Note: Kp = 1.00 & P1 includes allowable overpressure
See API 520 for reference on liquid sizing formulas. Note that equation (3) for P1 at 25% overpressure is equivalent to:
(5)Area Orifice=(Q*SqRt(G))/(23.56*Kp*Kw*Kv*SqRt(1.25P1-Pb))
End of Paste"
I am also attaching info on the Kd factor that I have found to be true:
Begin Paste:
Relief Valve Coefficient: I
If not known use API Kd of:
0.62 for non-certified liquids (Farris = 0.64)
0.65 for certified liquids
(varies from 0.724 to 0.744 depending on vendor)
0.975 for vapor, gas or steam
(varies from 0.950 to 0.975 depending on vendor)
Note: ASME Kd = 0.9*API Kd if ASME Area is desired
Gets confusing sometimes, Good Luck. Charlie D.
The more you learn, the less you are certain of.