Man, just save your money for school books or something. Buy another hydrometer. I am still using the same one I started out with. Sorry you got a bad one but they work fine and dont cost near that kind of money.
check out EBAY.. they go for about $20 bucks and if you get a good seller, it should be OK. There is one seller that seems to sell them direct from the manufacturer. His go for $20 plus about $8 shipping. My LFS sells the identical one for $70