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1975 Johnson 4w75a 4hp weedless drive. Lower unit seems to be leaking gear oil. Found fresh gear oil on prop shaft and on plastic/rubber splines behind prop. Am I right in assuming the bearing assembly needs to be replaced?
Well, that would be one way of doing it ($$$). You could also just replace the seal at far less cost. Seal is part number 314167 (or Sierra Marine 18-2024)