|HP Support document|
HP Notebook PCs - Troubleshooting LED Blink Codes or Beep Codes During Startup or Boot
That says your problem is the CPU.
They vary depending on which bios brand the brand name system bios version is based on, and whether or not the brand name system's version has modified that brand of bios version's possible beep codes.
"PC is fairly new , only 14 months , never dropped , update etc.."
Are you the ONLY person who has had physical access to this notebook ?
If NO, then someone else may have dropped it, or did something otherwise to it that damaged it, and they have NOT told you they did that.
"They told me at support it should be the CPU , send them over $300 and they will fix it , is this the only way out? "
The term CPU is frequently mis-used. The notebook's base part of it's case and it's internal hardware components IS NOT a CPU. The CPU is the processor (microprocessor) integrated chip that's installed on the mboard.
One of the LEAST likely causes of your problem is there is something wrong with the CPU.
If someone has dropped the notebook or otherwise subjected it to a physical jolt, or has spilled liquid on it or has exposed it to liquid such as rain or has sprayed it with liquid, it's a lot more likely something else is damaged, which is causing your CPU to not work properly.
If it's possible someone else has had access to the notebook and dropped it , remove the main battery, unplug the AC adapter, and remove and re-seat your ram modules. If you don't know how to do that, most User's or Owner's manuals have info about how to do that properly, or most HP or Compaq models have a Maintenance manual download that has that info.
If that doesn't help, whether it is or is not still covered under it's warranty, if you live in a reasonably large place, you probably don't need to ship it anywhere. There are probably local places that are authorized to work on HP notebooks that can analyze what the problem is for a standard fixed fee, and give you an estimate of what it would cost to fix it if a piece or pieces must be replaced.
If it's ONLY the CPU that is your problem, which is extremely unlikely, if you can get it repaired locally
- if it's installed in a socket on the mboard, it can probably be replaced for a lot less than $300 including labour.
- if it's soldered into the mboard, the whole mboard must be replaced - that MAY cost you up to $300 or so, or more, including labour.