Is it Toast? Suggestions?
Maybe not. It may be a simple fusible link inside the notebook that "blew" in order to protect the rest of the notebook. This is something a qualified technician should be able to easily determine, and if that is all that is wrong, easily (and affordably) repair.
Not all notebook boards have a fusible link.
Some fusible links are simple fuses that pop out and can be easily replaced.
Others are hardwired (soldered) in.
If you feel handy and comfortable opening up the notebook, you can inspect the area near the power connector and perhaps spot and replace the fuse yourself. But sadly, not all are readily identifiable. So again, taking it to a qualified tech may be your best bet.
I would call around to local shops, explain what happened, and see if they will give you an upfront estimate - explaining you have no desire to sink a lot of money into it.
That said, because troubleshooting electronics is often the most challenging and time consuming part of electronics repair (replacing the part is easy - finding which part to replace is the hard part), not all shops give up-front or free estimates. And some charge for the estimate but apply that fee towards the repair cost (if you let them repair it).
And having said all that, much more severe damage could have occurred here too. There's really no way to tell without having a tech take a look. Should you decide to get rid of the notebook, be sure to pull the drive and attach it to another computer then "wipe" it clean of all data before handing it off to a stranger.