Let the wallet bleeding begin!

You have the rectangular-shaped master cylinder, correct? Have you disassembled the MC yet? If the bore is pitted or otherwise gerfunken, it may not be useful. Have heard of some folks doing a re-sleeve but that's not always possible.
You may want to look for a used replacement that is in good nick. They are out there. I have had good luck sourcing used Airhead parts from Re-Psyle BMW Parts in the small town of Lithopolis, Ohio. Suggest you call them and discuss your needs. Emailing and going thru their website is about as fast as molasses on a cold morning.
http://www.re-psycle.com/Default.aspGood luck, amigo.