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The first step into seeing why the check engine light is on is to scan the codes, the computer will turn on this light when it sees a problem and then it stores codes . the codes are stored to tell you what part of the system has failed, you will need to go to an auto part store and they will scan it for free and give you a printout of the codes, good day.
The battery light will only come on if the voltage supplied to the alternator is lower than the current battery voltage. It is either the alternator or instrument panel. I've never seen an instrument panel go bad on those. Look at the alternator, I've seen one with a motor mount that went bad and the alternator was laying on the frame grounding out the alternator.
You'll also need to change the steering box. The stock axle should be okay to use. Be careful hooking up the new box and make sure it is centered, the same number of turns to the stop when you turn it left or right. Also make sure the pitman arm is the same length, on the Ranger, so the front end isn't out of whack, and check the clearance at the radiator and fan. Hope this helps.
It could be the EGR valve and a bunch of other things. Your truck is new enough it supports OBD-II. You'll need to get the trouble codes read from the truck's computer and that will tell you more information about where the problem lies. Don't guess, get those codes and do a proper diagnosis. You can look up the codes at http://www.check-engine-light.com Good luck!