There is some discussion of this at
viewtopic.php?f=5&t=69598 . If I'm reading things right the tranny sensor is part of the solenoid pack inside the transmission and if PN52119435AA is right the part runs ca. $150 list. Replacement requires dropping the tranny pan and, apparently, the valve body then putting thing back together. Pretty straight forward job might be 1.5hr labor plus cost of ATF+4 refill so $300 sounds reasonable. Be sure they use ATF+4 not some sort of "universal" tranny fluid (unless you really know the shop ask for the ATF+4 empties to prove that's what they used) and while in there spend a bit more an replace both filters to complete a routine tranny service.