Depends on which transmission he has. He didn't specify enough detail to know. The 4R70 has individual solenoids. $27 each. The 4R100 has a complete solenoid pack, not individuals. $187 Prices from
www.bulkpart.com. Dealership will be considerably higher.
Personally, since this code is an electrical fault, not a mechanical one, I'd be checking the resistance of the solenoid's coil before ordering anything or dropping any pans. This code can also be caused by a wiring harness fault or by a defective PCM.
Failure of this solenoid will not cause slipping, it will cause incorrect gear selection. Actual gear selected vs commanded gear depends on wheter it's staying in the OFF or in the ON condition.
See the DRIVETRAIN portion of the Service manual for specific diagnostics.
Steve