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Is it in the right location? It seems to have a mechanical function as far as I can tell, but the way it is hanging from one screw suggests to me it was put there as a temporary "keep it out of the way" solution by bubba.
Those that said the trip reset cable are correct. It's in the correct location, the bracket is to keep it stationary when you push up to turn the cable.
When I baught my 72, it looked like that, and I was unable to push, and turn it. That was because it's missing a little grip **** to help. After putting on the ****, I was able to push+twist to rest my trip oddometer.
You can either order the correct **** from a provider, or do what I did, and go to advance auto parts and pick a generic **** up - this required that I dremmel a small section of the tip of the reset cable flat.