Project Drop Top Bullitt came from the factory with 3.27 gearing for the rear axle.
From 1994 – 1995 the SN95 Mustangs came with the following gearing:
M = 2.73
Z = 3.08 (T-5 option)
E = 3.27 (AODE option)
You can find your gearing by looking within the rear differential if you are servicing it, or by looking at your VIN plate in the driver’s side door jam.
Under the lettering AX, which stands for axle, will be one of the letters above which corresponds with the factory gear ratio for your Mustang.
Information found here: http://www.sn95forums.com/showthread.php?42007-Gear-Ratio-for-1994-mustang-GT-5-0