The magnet is supposed to be in the pan. It goes in the lowest corner of the pan to catch any metal shaving that the tranny produces. You shouldn't have to replace it. Just clean it and put it back in the pan. Hope this helps.
This round magnet is supposed to stay in the bottom of the Transmission pan to catch any metal flakes, shavings that may exists. This magnet should be cleaned, and replaced into the original spot in the transmission pan where you found it.
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