From www.Cobra.com
"Where do I connect the three power wires? (radios with 3 power leads)
Answer: Connect the black wire to chassis ground.
Connect the red wire to a switched +12 volt source, such as the fuse for the AM/FM
radio.
The orange wire is for the memory retention of your CB radio, and
should be connected to a constant +12 volt source. The fuse for the
brake lights is usually a good choice.
With the radio wired as above, the radio will turn off when the
ignition is turned off. The orange wire will provide power to the radio
so that it remembers the channel.
If you are installing your Cobra CB radio in an application where you
wish to utilize a cigarette plug to power the unit, connect the black
wire to the negative lead (side terminal) on the plug. Connect both the
red and orange wires together to the positive lead (center tip) of the
plug. Your unit will function properly this way but will not retain the
channel memory. When power is applied your radio will come up on
channel 9."
If you do have 12vdc on the output of the power switch, you need to look for burnt traces or look at the 8vdc regulator. Chances are that you blew the regulator.
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