Sony 35" TV problem

My 35" Sony TV just died. First I lost picture and then sound. I am unable to see even the Menu. When I use the remote control to turn it on, all I see is the red standby/timer light flshing. Seven years ago I had purchased this brand new TV. The model no. is KV-35V36. What could be the potential problems? How much it would cost including parts and labor to fix the problems? I am in the USA. Thank you in advance for your prompt response.

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