No Power- is best option to extract HD?

I read dozens of these posts attempting to figure why my iMac wasn’t powering on. It was asleep one minute and completely dead the next. I made the cardinal mistake of not backing things up properly. So I’m trying to understand what my options are.

The computer itself is old & is in poor shape (is missing the glass screen, has loads of dust/dirt on the inside + and some webpages don’t load properly). I removed all the screws, and located what I believed to the the area of the LED lights. But NO lights, not even the first one. So perhaps it’s a power issue. So here’s my dilemma - keeping in mind the computer is 16yrs old- do I:

A) replace and repair the power unit and hope that’s the issue. Or,

B) remove the HD, purchase a Wavlink (of similar) docking station to transfer all the data to our other iMac (also an old computer), but allows me to access the data and ultimately back it up.

Plan B seems like the way to go but I’d love your input. Perhaps there’s another option I haven’t considered? And if there’s a data cloning or transfer device you’d recommend- I’m listening! :)

Thanks!!