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To install that trans into the 240, you need the shorter 240 shifter assembly. Also if the 740 uses the hydraulic clutch, it needs to be swapped to a cable clutch arrangement. Think you just swap the position of the pivot ball. Otherwise the trans is basically the same.
The driveshaft is different. You'd need a 76-86 240 manual trans driveshaft, if the 87 is an automatic. You'd also need pedals and clutch cable for a manual 240, and the flywheel/clutch/pilot bearing from the 740.
IT's doable but is it worth it? I dunno.
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