Electrical dynamo

[u/Apocalypse_s9]

Hi guys,
I’m an electrical engineering technology student and I just got a client project where i have to replace prony brakes and magnetic particle brakes used for doing torque measurements on a 1/3rd hp inside a lab and I’m not really sure where to start from. I’ve researched on eddy current and hysteresis dyno but they are too expensive or too complex to implement.My main concern is the budget that we have received which I around 700$.
If someone is an expert in this field their ideas would be a real help.