I just did a rough measure of the actual swingarm to the inside flat area of the lower mufflers on a friend's K4 with original 341 mufflers on it still, original owner.
Right side where nut usually is, @ 44mm. Left side is @ 34mm.
Swingarm clearance to frame just above the muffler/passenger peg bolt is just over 7mm.
As a reference for you to measure your bike, this is on my lift table, sitting on the rear wheel.