I found your request interesting so I ran a couple of laps and did a best of 1'17.701
My first lap was 1'23 something.
Don't be put off though because with the formula the setup is very important, you need to setup everything ( wings, gear ratio, suspension, brake strength ) if you want to do a quick lap so if you didn't bother much with the setup i reckon that's not such a bad time!