[Stillrunning]

Replacing the cap is not going to help your problem it will only cover it up for a little time. I would do as others said and drill a few test holes under the water line and see how the wood looks and leave them open for a couple of day to see if any water comes out. I replaced my transom about 5 yrs ago by taken the boat apart (removing the inner shell) and it was not that bad of a job. The repair can be made from the inside of the boat and you don't have to tear up the outer shell. If you find it needs replacing and would like to know how we did the repair let me know.