The time estimate in the prior post is just plain silly.
But whatever time it takes to get it out what then? The list for the transmission (PN: 66-8030) in a Power Shifter model 38540 is $959.93 but you can probably find it for less, maybe $600-800. There's a used one on Ebay for $499.
On some models the parts list only has the transmission as an assembly. There are models where the drawings for the transmission internal parts are broken out and can be purchased. You'd have to check on your model specifically to see if internals are available. Maybe you'll luck out with a linkage problem.
For cracking it open take a look at this series of YouTube videos on working on one. Note: not just one but a series of videos because the job is so extensive. Just opening it up and cleaning the gears in there would take a couple of hours and that would be with a tank cleaner with flowing solvent, but I’m sure if done by ajallen could be done under 2 minutes with a rag.
Repair video: https://www.youtube.com/watch?v=hHFgpdpYzDc
Parts:
http://www.toro.com/en-us/parts/Pages/PartsDetails.aspx?mybeid=19886&serialNumber=8900001&modelNumber=38540&searchTerm=9lzIRv+p5zd2NP/eK/kYAD+aQn+0Z4slTWTXkmrTa99ETtUZ3ntRpMgJmh6rhrY+&defaultTab=parts
This message was modified Feb 14, 2015 by trouts2