I would spend the $200-$300 and refoam. I was drum fishing one night in my 81 CC with the live well going not knowing it was leaking like a sieve. It wasn't obvious because my bilge was dry due to all the water running to the bow of the boat.
I only realized something was wrong once my livewell intake was above the water line.
I like to think that the foam occupied that space that the water would have gone before realizing I had a real problem in the middle of the Pamlico Sound that night.
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