the basic belt job is around 350-400. with the water pump, all pullies and belts around 800. if the belt failed, you may want to be certain the valves are not bent.. if they are add another 1200-1500.
The T belt will run around $500. The only issue is why did it break. If you need a water pump or tensioner it will be a couple hundred more. Keep in mind I am from NH and the labor rate is $90 per hour. This engine in not known to last long. I would take a look at the car as a whole and make a decision from that. It is only worth around 1000-1300.