Another boat

I was surfing craigslist again and found this boat advertised for 450 dollars. I went and bought it for 350. It is a 20 foot Bayliner. The main problem with the boat is that it spent some time under water. I need the spare tire and holder for my other boat trailer. A new spare and holder is about 150 bucks.
The boat is still worth 350 bucks though. I am sure that the trailer alone is worth that. I got it as a parts boat to strip. I am considering seeing what it would take to fix it up though.
If these seats fit my other boat I will probably use them. They are better than the ones I have and new ones are 189 dollars apiece.
The gauges are filled with mud. I am certain that they are not usable.
The motor is a Chevy 305 V8. The marine name is a Mercruiser 898. I think they are pretty much toast after they have been drowned.

I will research how much it would cost to fix it and then see if I could get a used one for a better price.