$795 is about right ......
Cost a good new bearing is ~$100 + $5 for new flax packing .... that leaves 10 hours labor (typical now is $70/hr.)Open/separate coupling, jack coupler off shaft, remove shaft (dress shaft if necessary, replace if severely galled), cut/press out old bearing, clean and dress bore, press in new bearing, reinstall ahsft and coupling, realign engine, repack stuffing box, test-drive for vibrations. For a good mechanic, 10 hours is fast. Always best to pull the shaft and inspect the 'running' surfaces for adverse wear, scores, pits, etc. The down side with an 24 year old boat is the coupler 'may' be so 'frozen onto the shaft that it may need to be cut and new shaft (+$400-$600) 'may' be needed. If the coupler is solidly frozen to the shaft, then its a good idea to press out the old cutless without pulling the shaft ... and simply 'pray' that the shaft surface is OK. If you're handy with wrenches, etc. all of the above can be done DIY. The hardest part usually is getting that coupler off the shaft, especially if the 'connection' is not a tapered one ... the biggest problem usually is that rust/corrosion has formed inside a 'straight connection' and once you 'release' it and clean it the coupler will be too loose, etc. to go back on correctly, etc. Most 'production' boats have 'straight connection' (non-tapered) coupler to shaft joints .... so pulling such a cutless without shaft removal may be a BIG plus. Some marinas use specialized large hydraulic presses that can remove a cutless without removing the shaft .... if a DIY is not in your future you may want to seek out a yard that has such a 'press'