I have a pool light that keeps on tripping and thought I could simply replace the gasket on the glass thinking it was a leak; however, when I opened the light, the inside is all corroded including the edison socket. It just doesn't seem safe to keep it running.

I'm not 100% sure what exact version it is but on the ring, I see Swipquip 5055-11. Voltage of the light inside is 120V and 500W.

Pictures here: https://photos.app.goo.gl/x1f4XvDyb46ojjX18

What would be the most cost efficient way to replace the light and at same time convert the bulb to LED?

Thank you.