Re: OMC Cobra 1989 4.3L, model:985269 Sending unit part#
Easy to replace, getting the wires through the transom will keep you busy for a while.
Turn the drive to starboard; Get a piece of pipe, can't remember, 1/4 or 3/8, and cut a slit down one side big enough for the wires to fit in.
Grease the wiring grommet, and use the pipe to push on the grommet, as someone pulls the wires from inside the boat. The pipe may need a whack from a 2x4 to seat it.