1997 Toyota Corolla Engine repairs

Engine problem
1997 Toyota Corolla 4 cyl Wheel Drive Type unknown Manual 225000 miles

I have a 97 corolla with 225000 kms on it. I had my engine light come on 2 days back and I need a new exhaust manifold and both oxygen sensors. Parts and labor is about $1200. My question is if I should spend money on this or just sell the car at this stage. The car looks and runs fine apart from this problem. I live in Canada so would wonder how much more mileage I can expect from the car at this stage.