I wouldn't let that go too long. Even reinforcement won't get you by forever and problem is that with a plate your transom will just keep rotting and rotting until it breaks loose. Not a good situation. I'd fix it.
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Current boat(s):
1985 V-20 Cuddy/ 470 IB/OB
1972 Egg Harbor 38’ Sedan/ 454 Crusaders
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