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2 w0 JL's (12"), maybe even in a sealed or ported box. (only one of them was usually played at a time).
ppi 2360 amp (2x90,2x180 or 1x360 rms)
$300 for everything.
I know you said preferably 2 12" and around $400
But I have
15" Orion HCCA, in a ported box with
Boss RIPD3
for $500
It would pretty much destroy anything else you could get for that price.