You can go about it two ways... if you want to replace the entire end-rod, you simply loosen the jam-nut and then use a wrench on the other side of the bushing. You'll need to hold the other side. I use either another wrench or a pair of vise-grips to keep the cylinder from rotating. Then unscrew it from the shaft.
If you want to just replace the dust cover/boot, you can loosen the jam-nut, then unbolt the tie-rod, pop the tie-rod (use a rubber mallet) out of the knuckle, then unscrew the tie-rod off the shaft. Remove the jam-nut off the end-rod, then remove the clip and ring off the boot (I simply cut the ring off with a pair of side cutters).
To reinstall, just repeat the process of whichever you chose. However, you'll need to realign the front end or else your tractor will drive funny because the toe will be off. I use the wood, level, and tape measure method...
Now you can *try* to count the threads, but I've never had much luck with that other than getting the toe somewhat close for a starting position. Then I finish it off using the wood, level, and tape measure method for the final alignment.
Here's the parts and some suggestions...
I recommend replacing the entire tie-rod end... but the price is a little steep (then again, a M7040 is a pretty premium machine)... KPN: 3A121-62980 @ ~$207.
Or you can just repack it with grease and replace the boot: KPN: 35533-62850 @ ~$18, along with the clip KPN: 35533-62820 @ ~$2, and the ring: KPN: 35533-62860 @ ~$2 (Total: ~$22).
