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Probably needs new piston and rings.If it has been rebuilt lately it might not need bored but if it hasn't it a good time to do it.IT could also be a broken valve seat.
I have two an 86&87 230 sport that both smoked.
The 87 smoked because valve seats and worn out rocker arms. Valves,cylinder and rings were ok. The 86 still smokes it's next.