You need to dry the wood out as best you can, then get a drill bit and drill a few holes in the middle of it to let the epoxy soak in and penetrate the wood. I've done this on rotted transoms before, and was surprised at how stout they were afterwards. Open it up and put a halogen light next to it for a few days to dry it out some, then do the kwik poly to it.
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2011 SUNDANCE B20CCR SKIFF, 2011 YAMAHA 90HP 4 STROKE, 2011 KARAVAN SINGLE AXLE ALUMINUM TRAILER, LOWRANCE ELITE-7 HDI, MINN KOTA RIPTIDE TROLLING MOTOR
2000CC HYDRA-SPORT 225+HP EVINRUDE SOLD 
AND THE PINK JEEP!!!! R.I.P.
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