If the bios chip is removable because it is installed in a socket, your cheapest option is probably to get a replacement bios chip already flashed with the latest update for your mboard. E.g. the Badflash web site can fix you up.
If the bios chip is soldered into the mboard, some places can replace it with a replacement bios chip already flashed with the latest update for your mboard, but the cost of the chip and them flashing it, the labour charge for removing and installing the chip, and shipping costs add up to near what you would pay for a new mboard, if your model is still available, or you may be able to find a used identical mboard for less, or another mboard model new or used that is compatible with your cpu and ram for less. E.g. Badflash can do that, but only if you are in the US. (There is a similar site in the Netherlands (Holland) that can do that if you're in Europe)
However, you MUST supply the correct information about your model to them - the correct entire model number, and often it's Version (V or Ver) or Revision (R or Rev) number printed on the mboard itself - that is usually readily apparent on Asus mboards.
Some places offer bios upgrades, which cost more. The bios chip or bios version software is custom programmed to enable all the features the overall bios version and your mboard chipset will support, including the support for recognizing all the cpu types - this is often superior to the latest bios update availble from the mboard manufacturer.
If your mboard is not booting, and the floppy led does not come on at all, this is an option only if the bios chip is removable.
