Cost to replace a motherboard on a new iMac?

I recently purchased a new iMac (24-inch Intel Core 2 Duo 2.8 Ghz) to replace my other first gen iMac of the same spec.
I had problems with it not booting up and slow-downs getting progressively worse until the only way that I could get the iMac to work was by re-installing the OS software every 24 hrs.
DiskWarrior was reporting disk malfunctions and eventually was unable to see the hard disk, repair the directory or permissions.
I put up with this for 4 days before taking it to an unofficial Mac repair centre in London.
After they had spent 3 hours trying to work out the exact problem they advised me that I needed to replace both the data disk and the motherboard.
Add the labour cost to this was almost the same price as purchasing a new iMac, which is what I felt I had to do.
Can anyone confirm how much it would actually cost Apple to replace a motherboard including labour just so I know that the £760 price I was given for this part alone was indeed accurate?

Sorry, but it wasn't clear on what system is was that you were referring to. So you believe your 2.8Ghz is out of warranty? Apple says that the early 2008 iMac wasn't released until April of 2008, so if that is indeed the model you have, it should still be under warranty. Confirm the model and warranty here:
https://selfsolve.apple.com/GetWarranty.do
You may instead have a Mid 2007 model.
If the system's warranty has indeed expired, the price you were quoted for the logic board still seems high, though logic boards for a 2.8Ghz iMac are rather hard to come by. I'd still suggest that you get a diagnosis and estimate from an authorized Apple service center or Apple store. You can then decide what to do.

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