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Title is mis-leading. You have a 40hp, not 4hp
Not sure what bushing you mean. The one that holds the vertical throttle shaft/gear? If so, you have to remove the vertical shaft and gear. then drive the bushing out from below.
Don't know if you have a tiller or not. Anyhoo, the horizontal gear/shaft has to be removed to get the pinion gear out of the way first.