It may be better to cut the shank off, make a new one and set the barrel back and rechamber and headspace it. But before you screw it back into the receiver, turn a new shank and thread for the muzzle break too, while it's on centers of the lathe, and set it up to be concentric with the BORE, not the outside of the barrel.
You will loose about 1-1/8" to 1-3/8" of barrel length to make these repairs, but that's cheaper then a whole new barrel.
Any good smith with a lathe can do these things for you. In fact, any good machinist can also. It's pretty basic.
