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What is this job worth? 700 1989

I have recently acquired an 86 740 wagon with only 140K on it. I am unable to get a title for it so in becomes a parts car. A friend in the landscaping business just cooked the engine in his 89 760 and I have agreed upon a swap with him. I am selling the engine for $500, and we are trading labor, (he makes my yard beautiful and I make his car run). So, what is the engine job worth? I figure it is worth about 15 to 20 hours so I want to put a monetary value on it. Is a labor figure of $500 to 700 realistic? What would you guys with more experience in billing out jobs charge? I want to be fair.
Jon






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