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Sorry to hear about that. Since the horn is sounding the intermitant beeps, that represents the oil injection system, which has two sensors sending signals to the warning module.

One is the Low Oil Sensor in the cap of the engine mounted oil tank. The other is the Motion Sensor on the oil injection pump, to make sure it is rotating.

If everything in the oil system is function properly, one of those two sensors must be defective.

Thee is also a powerhead overheat sensor, (brown wire) but that makes a continuous sound, not a beep. So not likely to be the problem.

Last possible cause according to the service manual is a faulty engine ignition system, which means an incorrect voltage pulse is being sent to the warning module. This is the green wire. A bad coil would cause this.

You may have to go to Merc shop to get this fixed.