The old axle can be recycled. It's worth about .08 a pound as scrap metal. In a big city, you can put a FREE sign on it and place it in the ally. Otherwise you haul it to a metal recycler. They will melt it down and make a new Toyota out of it.
Glad the panic is over. Just get ready for the next attack. I had one yesterday when I thought my new holding tank dump valves were sticking. I used the wrong lube on the seals. I thought I was going to have to tear it all apart to replace the seals in the valves. But I was able to spray a little RV antifreeze in there and they freed right up. Whew, panic over.
Your youth is showing. Them is "drums" not rotors. You may never have owned a car with drum brakes! Disc brakes have rotors, drum brakes have, well drums. Our old Airstreams have drums brakes. Even most of the new ones still have drum brakes. Disc brakes on trailers are a lot more complex as you need hydraulic power to operate them.