How Much Does It Cost to Fix the Xbox 360 Red Ring of Death?

I bought it about 3 months ago but it's refurbished and I got it online

Suggestion:

You must sell your soul to the devil and also you need to know how badly your hardware is damaged. My best estimate would be $50 to more then if you just bought a new xbox.($500). The only ring your xbox should have is a Halo.