C040D Mercury Park Lane is described as Oxygen Sensor Circuit No Activity Detected (Bank 1, Sensor 1). This means there's a problem in the front oxygen sensor on Bank 1, as the O2 sensor is inactive. As you drive and when specific conditions are slowly met, the vapors will gradually purge from the charcoal canister and will get burned within your engine.
Possible Causes :
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With the valve disconnected, the red voltmeter lead should be attached to the IMRC valve power wire and the black voltmeter lead connected to ground. Pack the connector cavity with dielectric silicone compound (same stuff they use for light bulb sockets and spark plug wires) and reassemble.
Diagnostic trouble code C040D Mercury Park Lane is not difficult to diagnose and repair. Thus, it always pays to have a qualified technician to look after your vehicle should this error code arise.
Diagnosing this code requires the engine to be in good running shape, without unmetered air entering the engine. If other codes that relates to misfiring condition, lean running or air entering the engine is present, then you must first fix those error codes before C040D Mercury Park Lane.
Fortunately, C040D Mercury Park Lane is a fairly common OBD code, meaning that it applies to all makes and models of vehicles made after 1996.