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Power steering fluid leak? 200 1991

Well, it may be time to retire the old girl. She's a 240 and has 350,000 miles and is relegated to getting me to and from the train station each day. This morning, while backing out of the drive, I saw drips on the pavement in my headlights. There was a whirring sound when I turned the wheel. When I got to my parking place, there was a steady drip and a nice puddle of watery black fluid on the pavement. It was not very oily, more watery.

Any ideas on what I'm looking at and what the prognosis might be? I am not skilled enough to fix myself, so I was wondering what the $$$ might be to repair this and then I can donate the old brick.

Thanks for the help!






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