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BMW E34 Speedometer problem

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awfulagnes | 15:46 Mon 02nd Jul 2007 | Cars
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I drive a 1995 520sei Automatic (E34 Spec) and my speedometer, windscreen wipers and mileometer have all stopped working. I have followed instructions found on the web and have discovered that my speed sensor, located beside my differential, has a broken wire. Can this be fixed? If so how and how much will it cost me? Please keep your answers suitable for motoring for dummies... thank you.
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I had a similar problem a few years ago when I had an E34.

I don't remember how much it cost to replace the part, but I do know that I didn't collapse with shock when I was told a) how much the part was or b) how much it would cost to fit (by an independant mechanic).

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