Ouch man.... that looks like it hurt. Really sorry to see that. I would get that fixed asap, but from my experience (wife fender bender before), that should be around $700 - $1000. It will be fixing the dent, plus repainting at least that area, if not the whole bumper.
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2012 5.0 GT Prem, Kona Blue, 6MT, HID, Brembo, 3.73 -- Ordered: 9/20/11, Born on: 10/20/11, Delivered 11/15/11"Marilyn" GT500 mufflers/flaps, MGW shifter, FRPP K springs, BMR panhard bar, Boss coil covers, 3DC spoiler, Llumar Tint (35% and 20%), 3M ClearBra
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