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Code 740 on 1997 Dodge Caravan

Rookie cbe0621eac06868b3efe0d8d1d3611e23c60d3114864ea2ec19a68cfbd3eebab
My check engine light came on and it coded 740. Is this a serious problem. Do I need another transmission. Please advise.
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(1) Answer
We would really need to run some tests to give you an accurate answer if you need a transmission.