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A reputable shop that does quality work and provides good warranty service will quote you a base overhaul plus hard parts price. And because they can't see inside the transmission they will not be able to give you a firm price until they tear it down and inspect the internal parts. E4ODs _can_ be an expensive overhauls but not always. Diesel E4ODs are higher but a 5.8 gas in a 150 chassis is a little less.
You will want to know what the O/H price includes. If you want it done right it will have to have a new solenoid block and a quality torque converter. At my shop we put a Superior (brand) pump kit in every E4OD we build. A new solenoid block ain't cheap and the re-man blocks are junk. There is a wide range in quality of torque converters too.
The bottom line price will also vary depending on where you are. Prices in major urban areas are always higher than small towns. And by as much as 50% in some cases. Personally, I would run from any shop that quoted less than $1500 for an E4OD. You just can't do a quality job for that cheap and stay in business. I would also run from any shop that quotes a flat rate for an overhaul on an E4OD, especially if they lowball you. That is a garanteed ripoff. At the upper end, in a major city $2300 is probably reasonable.
If you have any questions about what they are telling you let me know.