116 would be a 3% drop in voltage. Your system is probably rated 115/120 look at the name plate or manual. Even if it is rated 120v it will handle a 3% drop. The trick is not to drop any between your service and the outlet that runs your equipment. I would recomend going to a #10 dedicated circuit for a run under 200' and # 8 for a run 200'-300'. This should do the trick for voltage drop. Test the voltage with a meter at your service then check it at the outlet that will let you know what you are dropping now.
