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sensor dont take to long to change and the price depends on were you get it from, but you need to know it is a sensor failed or just blocked. road muck can get stuck in there and give a failed sensor. the message you are getting is it needs to be serviced when the sensor is changed it can take upto 10 meters for the abs to reg the signal. if no abs and speedo jumps its the front pass side sensor. its more common for the front sensor to fail as they get the most rain/muck on them when turning. they rust up.
If they all come on at the same time, chances are its a problem the engine computer has found. The wrench is a warning light for the engine and transmission, the ABS and traction control involve both the drivetrain as well as the brakes. So if a problem pops up in one system the computer knocks out the others too. Have the main computer checked for trouble codes and go from there.
There could be many issues with this light on, only a professional scan tool or the FORD dealer has an OBD scanner that can talk to the ABS module. From a look at some common problems, people have changed the front wheel speed sensors to fix this problem.
The ABS light is for the Anti-lock Braking System. The MIL will illuminate if there is a difference in wheel speed sensors signals to the PCM. So you might have a wheel speed sensor that is going out on you. Does the light come on at low speeds, or just higway speeds? You could take the vehicle to a local parts store and have them pull the codes for you and that will tell you which speed sensor is out of whack. Also road grime, dirt and gunk buildup can cause speed sensors to give false readings. Hope tihs helps you out.......