What was found
ENROUTE, THE FLIGHT CREW REPORTED AN ELECTRICAL BURNING ODOR, POSSIBLY TRANSPONDER, ATC CONFIRMED THAT THEY WERE NOT RECEIVING TRANSPONDER DATA. DIVERTED AND MADE A SAFE UNSCHEDULED LANDING. AVIONICS FOUND THE KT 70 TRANSPONDER FAULTY. VERIFIED THIS UNIT BY ALSO NOTICING SLIGHT BURNING ODOR. REMOVED THE UNIT. VERIFIED AND INSPECTED THE CONDITION OF THE WIRING WITH NO DEFECTS NOTED. INSTALLED REPLACEMENT UNIT, ALL TESTED AND OPS CHECKED GOOD WITH NO FURTHER DEFECTS FOUND IAW DMC-12-A-34-54-01-00A-920A-A AND COMPLETED ATC TRANSPONDER AUTOMATIC PRESSURE ALTITUDE REPORTING SYSTEM DATA CORRESPONDENCE TESTS AND INSPECTIONS.