Crank Shaft Position Sensor?

Yesterday my 2000 Jeep Cherokee Sport started to stall/die while I was driving it. I was driving and all of a sudden the engine would just go dead so I would put it into park turn the ignition and it would start just fine. This morning I tried to drive it in to a repair shop but the car would not start. The car turned over but nothing was firing. I had it towed to a shop and they said the issue was with a crank shaft position sensor and that it would cost $300 to replace. Does that sound right?

The price is reasonable. The part alone runs about $100.