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Q: Price to fix possible serpentine belt failure? on 2001 Audi S4

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I was driving on the highway today and lost power steering and the battery light came on. The voltage gauge dropped to 11V from 14V. The engine kept driving fine, despite the loss of power steering.

I've been reading and it seems like my serpentine belt has slipped off or snapped.

Does this sound right, and if yes what should I expect to pay for a replacement?
(2) Answers