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Inkjet Print Costs

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We have now had a HP130 for 6 months, and I'm wondering if anyone has managed to figure out any decent formula for calculating print costs?

Figuring the paper price is easy, but how do you work out ink costs to add to the paper costs?

I have Epson quoting a cost (net) price for an 8x10 on their machine at $A2.95 which sounds a little high to me.

I'd appreciate any feedback anyone has.

On the HP we have found it to be excellent and very frugal on ink. Most of our work has been canvas, and remarkably, it has also been mostly black and white, which makes colour management a breeze.

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