How many volts should my stater put out , mine is only showing 3.987 on my volt meter , if it goes bad will it put out a small amount of volts , are will it go out all the way an put out nothing

Here are some tests you can perform and to help you understand.

What Is the Function of the Stator on a Sportster Motorcycle? | eHow (http://www.ehow.com/info_8710643_function-stator-sportster-motorcycle.html)