My dad just went through the same problem on his 96 Ford Taurus GL 3.0 auto. The sensor had to be replaced cost $59 and also had to replace the synchronier cost for part $150. I personally saw this piece which is about 4inc. in length and attach next to the sensor some how it broke a part (looked ass if something started to chew on it). It all works together with the sensor. If you have problems locating it go to Ford ask for a print-out of the location of the sensor.
