Taurus 92 - reverse gear problem

Hello all,
A few days ago a reverse gear on my Taurus suddenly has gone. In the very beginning it did not work at all. If I put clutch to the
reverse gear the car did not react at all (i.e. it was the same effect if I shift the gear to neutral). If the car was parked downhill then it would start moving ahead even though it was on the reverse gear.
After some while the reverse gear started slowly return back to work, although the traction on the reverse was really anemic and inadequate.
Today the signs of traction on the reverse disappeared again. Mechanic advised to replace the whole transmission and the total cost of the replacement is 70% of what the car worth.
Did anybody have similar problems? The other gears are fine. Would the problem with the reverse effect the other gears?
This is Taurus -92 3.0 automatic,

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