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Ford no longer licenses Mercon & has back specified Mercon V to be used in place of the old Mercon fluid on this TSB 07-1-7***MERCON® ATF REPLACED BY MERCON® V AS A SERVICE FLUID FOR SOME POWER STEERING SYSTEMS.
Mercon V is a semi-synthetic fluid that's a higher quality than the old Mercon recipe.
All that said, you could use either of the above fluids, or a Mercon V fluid in your power steering system. If your drive cycle is severe, with lots of slow city driving in hot weather, I'd consider using the full synthetic Maxlife, or a Mercon V fluid, or the less expensive WalMart fluid in that order. Some thoughts for consideration.
Its a '99, FCOL, its got MERCON and NOT MERCON V in the system already. He can USE any brand that meets MERCON requirements. WTH!!!Splitting hairs here!!! No wonder the world is in chaos, nobody just wants to get along...