Wow. Snapped in half while you were sailing it? Unless your name is Ahab and you laugh at storms, that shouldn't happen.
There must have been some corrosion and/or stress cracking where the bail bolt went through the mast. I would be afraid to trust it myself, since one problem often indicates others. If replacing it doesn't break the bank, I would go that route.
And give the hairy eyeball to all other structural connections and rigging. A boom snapping in heavy wind must have been traumatic. Imagine if it was a chainplate or stay!