It's the strut mount bearing bushing. It comes all in one piece as the strut mount bearing. The SKF version is $45 each from FCP. See the site below. The job to replace them is reasonably difficult, or maybe you could say it takes mid-range mechanical skill, care and patience to do it. It just requires a few steps, and care when using the necessary spring compressors so you don't injure/kill yourself. If you are doing the strut mount bearings, it would be the time to do strut inserts, strut boots and possibly strut bump stops. Get it aligned when finished. When I did mine, I read up on it a bunch of times and planned it all out. The job went smoothly. It can be difficult though so read up before you start and get others' advice. The IPD catalogue and and maybe their website, has step-by-step directions. Also check (http://www.brickboard.com/RWD/index.htm?id=769381). A BB poster said there is good info there too.

For the parts check: http://www.fcpgroton.com/volvo240shocks.htm

Good luck.
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Thanks everyone for all the help, Doug C. 81 242 Brick Off Blocks, turbo bars and wheels, M46; 86 244, B230, 150k , auto.