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Has anyone scanned the engine to see what the code is?
Ok, there are 4 main causes for this alarm, the oil tank, water in the fuel, low battery voltage, and a sensor out of range.
How long after starting the engine do you get the alarm?
Are the gauges SmartCraft?
How do your spark plugs look?
Are you near the boat now?
the gauge can tell you the code. When the alarm goes off, press the button for more. It will have a text there. With that, I can tell you how to fix this engine. It may even show a number.