Just pray it is the slave cylinder and that it is mounted outside of the transmission. With my dad's F-150 the slave cylinder has gone bad twice and it is located on the inside of the bell housing, so the entire transmission had to be dropped. That isn't a fun undertaking unless you have a lift.
Oh yeah, when the slave cylinder went in the F-150, there was clutch fluid coming from it. Look to see if anything is leaking.
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The pond, waterfowl, and yellow labs...it don't get any better.
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