Hisense LED LCD TV Model No.50K360G is stuck on flashing blue screen

My Hisense LED LCD TV Model No.50K360G when powered on flashes between a blue screen to black blank display continuously every 2-3 seconds (Shown in both states in the photos).

I have attempted standard troubleshooting steps including cycling the power to reset, checking for power cord damage, switching outlets, and placing in a different location to test for emf interference.

I also checked for a firmware update ( I could not for find any for this model), does anyone have any idea of what hardware/software failure is occurring and/or possible solutions?

I got the TV from outside an apartment dumpster, its served me well for a couple years but I can't really justify spending more then $100 bucks to fix it or investing more then a couple hours of time/labor.

Thanks in advance!