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Its really hard to estimate ink usage, but I'd say somewhere between about 20 cents (basic black text) to about 80 cents (full color picture). Add that to the ~75 cents per Magic Jet transfer paper (depending on how many you buy at a time)... so something around $1.50 per sheet. I really can't say I know for sure though.

One other note, don't forget that there are bulk ink systems you can purchase, which will drop the ink cost-per-page down to like 10 cents. (But, of course, require the initial investment on the bulk system.)
 
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