You are doing the test right. Typically garden tractor charge coils will put out somewhere above 28vac. However being a repower you don't know what is in it. But we do know the 318 needs more than its putting out. Cast into the side of the block is the model number and serial number. If you take those numbers into a Honda dealer they should be able to get you a charge coil and voltage regulator with the out put you need.