Its in the distributor. Paid ~20 bucks for mine. Its hard if you dont have a gear puller and make sure you know how to set the engine to TDC(TOP DEAD CENTER).
PIP would be the stator inside the dizzy....Get a rebuilt dizzy for 99.00 or so...either that you can tear into the dizzy and replace the stator youself...Never did that...someone while chime in with the skinny...