Can't help directly - mine is a 2003. But transom is solid, no water in it. I would absolutely replace all hoses going to thru-hulls. Mine were leaking between the cockpit and the thru-hulls in the transom. My (2X) 2003 F200's are only exhibiting mild exhaust corrosion, but I know my day is coming. Biggest issue I have is that the transom, fishbox drain, and livewell drain thru-hulls are all below the waterline with any crew aboard (not so much for mid-ship thruhulls at the dock). Check those mid-ship side compartments to look for corrosion/leakage issues for the fishbox and livewell thru-hulls. Access/repairs are doable, but not fun.