A 16lb Taylorcraft doesn't need anywhere near a 35-40cc engine.

I have a 15.5 lb Sig Cub that is vastly overpowered on a Laser 150 4 stroke. My friend fly's a Great planes 1/4 scale Super Cub that weighs 17lb, on a Zenoah 26, no problem at all.

All you'll do is overpower the airframe and make the model a pig to fly. A clipped Taylorcraft isn't meant to be flown like a Sukhoi !

Try and keep it as light as possible