IMAC won't start up !

I need help. My boss just gave me an old iMac G3 but when I start it up, it makes the nice start up noise, but then the screen just shows an image of a floppy disk with a question mark in the middle and the computer makes a click noise every second or so. Any ideas what's causing this and if it's cost effective to repair?
Thanks

The flashing ? means it isn't finding a working system folder. Either the hard disk is dead or the system folder has been removed or erased. Did your boss erase the hard disk before he gave it to you? Try starting from the installation or restoration CDs or from a utility disk. (Hold the c down while booting with the CD in the drive).
Badger

I don't think he erased the hard disk, but he didn't give me a restoration CD either. Can you buy those or can a good repair place use their own?
Thanks for the quick reply Badger!!

You can buy OS 9 restore disks for quite a resonable price on eBay. If the harddrive is gone, pick up a small cheap Apple compadable Harddrive from ebay.

It will be worthwhile to get a set of install/restore disks. They will help you track down whether it is the system or the hard disk; and either way you will need to install a new system. If you need to go to a new HD here are 2 links with info on how to do a replacement: for the original, CD tray-loading models - http://www.djonmac.com/index.html and for the slot-loading - http://www.appletalk.com.au/forums/index.php?showtopic=436.
Good Luck.
Badger