You should be able to get a satisfactory bottle for cooking for $8-$10. If you plan on cooking with wine again I have a trick that we use...your recipe probably won't use the whole bottle...we save leftover wine (both red and white) by pouring it into ice trays and freezing it...then keep the cubes in a baggie in the freezer. It lasts virtually forever and you just thaw out enough cubes of whatever wine you need for whatever recipe you are doing...
We also occasionally make sangria for parties...one neat thing to do is take the ice trays and drop a red grape or fruit slices in each one...then pour part of the sangria in the trays...then use these ice cubes when you serve the sangria...it looks good and the melting ice doesn't water down the sangria...