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If you were to do the whole motor, it would depend on what you buy new, and what is good. It can be pretty cheap if you keep everything, and get pretty expensive if you start replacing things. You should find out what is bad though, because you may think its a bearing when you really have a valve tap. If it were me, I'd just look into fixing what is wrong. If it's a valve tap, which it very well may be, it's not too hard or expensive to fix if it's just a lifter. If it's anything more than a lifter, it's probably not worth it for a 305. You'd be better off finding another used motor...people like to sell them cheap.
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