It was a beautiful day for flying. The takeoff from Waco Regional Airport in Waco, Texas, was routine and uneventful as I turned onto a northwest heading as indicated by the GPS. I had reduced from takeoff power to about 2,450 rpm and about 24 inches of manifold pressure. As I was leaving 1,500 feet and exiting Waco tower's airspace, tower advised us to contact Fort Worth Center. I switched over and made the call. "Fort Worth Center, Bonanza 9792R with you, 1,500 climbing to 2,500." After getting an acknowledgement, I began adding about an inch of manifold pressure when I heard a sound similar to a shot from one of those Roman candles that we played with as children. The sound was followed immediately by a puff of white smoke from just behind the propeller and then - no sound. We had just become a glider.
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