I recently purchased the Irwin extractors to remove a broken .370 shaft tip from a 7 iron. I assumed incorrectly that the tools would fit into my power drill. What is the best way to use these tools so I can remove the broken tip and re shaft the 7 iron?

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definitely need to do it by hand. A T-Handle or the “extractor” tool work best. I prefer the T-Handle:
https://www.golfworks.com/heavy-duty-chucking-handle/p/gw0118/