99 Ranger ABS Light/Speed Sensor

My 99 Ranger had the Check Engine Light and ABS light on along with speedometer problems.
The OBD computer reported 'speed sensor' failure. Further research says
that the speed sensor failure will cause all the symptoms I have experienced. I reset the check engine light but the ABS light did not go out and after about 20 miles the check engine light came back on.
Where is the abs speed sensor located? Is in on the transfer case or the transmission and how can I recognize it?
Is there a special tool outside of normal sockets etc that is required to replace it?
Thanks
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George W. Barrowcliff
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I imagine it is in the same place as it is on F150's and SuperDuties....on the top of the rear differential. They take either a 10 or 8mm wrench, can't remember. The part for the big trucks is only $28 or so.

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