First of all, are your sure your panel is 44" wide?? Most are around 42.5" Here is a sample from EQ7. Quilt size finished is 58" x 72"
Panel size finished is 24" x 42"
1st side border are 2" finished; These are necessary to achieve your final quilt size
2nd Border 2.5" finished
3rd Border 5" finished
Outside Border 7.5" finished
Finished size does NOT include the 1/4" seam necessary on both side. Hope this helps. You might also look in Google under Panel quilts and see if there are any patterns that will help you with additional information.
Welcome to the board!