it is part #77
if it does not drain, disconnect the raw water hose that goes from the transom mount to the impeller housing. Hold it up and fill it with -100 marine antifreeze till it runs out the outdrive water intakes. This will flush all the water out of the hoses and the power steering cooler on the back of the engine. I did it this way for years on my OMC Cobra which has a very similar set up except that the Volvo does not have the raw water pump in the drive.