That's nasty /ubbthreads/images/graemlins/frown.gif
It looks like it's had a repair before, maybe a skim of filler there,,,,,,,,,,,,,?
I'd say a good 'Chips Away' guy would do that for £60- £80 and you wouldn't even know about it afterwards.
BUB /ubbthreads/images/graemlins/beerchug.gif