1) Rankine's formula considers both compressive stress and buckling stress in columns. It can be used for short as well as long columns with a slenderness ratio greater than 80.
2) The formula is: P = σA + [σA(λ2 - 1)/(1 + aλ2)] where P is the Rankine buckling/crippling load, σ is the crushing stress, A is the cross-sectional area, λ is the slenderness ratio, and a is the Rankine constant which depends on the material.
3) Several examples are provided to demonstrate calculating the safe load of columns using Rankine's formula for different end conditions and materials like steel