Whats the best way to fix this?

[Mike Hall]

How would you go about fixing this rust when the rest of the quarter and outer tub is in perfect shape? If it was just the quarter that had holes in it I would cut that section off the quarter and replace it but the outer tub has holes in it too. Anyone have a good idea on what to do? I sure do not want to have to replace the whole quarter and tub just for 7" of rust along the lip.

Thanks
Mike