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Is alternator or regulator bad on my Craftsman tractor Model No. 917.275682?

Tractor quit while mowing lawn wouldn't restart. Battery dead, ruined battery, starts with another battery. Amp gauge shows a charge for a while then drops of to 0 or discharges. If I shut off PTO and turn back on or shut off engine and restart, Amp gauge shows a charge again for awhile then discharges again. Output of alternator seems to be okay. Is this a problem with the regulator?
Larry, March 2013
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